Repriced New Development Condos up to 25% off

By CityRealty Staff | From Future New York Monday, November 27, 2023

53 West 53rd Street, #63

According to CityRealty data, the median price of a sponsor listing in a new development Manhattan condominium is a whopping $2,475,000, or an average price per square foot of about $2,400. Unsurprisingly, the Upper East Side's Gold Coast is the most expensive neighborhood to buy a condo in (at an average price per square foot of nearly $6,000), largely in part that condo buildings are rare and new developments are few and far between in the staunchly protected historic area.

Indeed, new development condo listings in any part of New York are priced at a premium, about one-third to 40% higher than their non-new development counterparts on average. Units in these new buildings typically feature state-of-the-art appliances and finishes, lofty ceiling heights, and access to an expansive amenities package.

According to public listings, there are 746 new development sponsor units available in Manhattan. However, this number is substantially less than the actual number of unsold sponsor units since developers typically unload their units in phases. We have pegged the number of unsold new development inventory to upwards of 7,500, a figure that could take about half a decade to clear at the current pace of sales

With so many apartments to sell, many sponsors have adjusted their prices since their first approved offering plan. Below, see a selection of some of the more visible price reductions in new development condominiums in Manhattan and Brooklyn and a selection of listings that compare their current asking price to the price stated in the initial development offering plan.

Central Park Tower
14 sponsor availabilities from $6.5M - $195M

Central Park Tower, #80E
$29,500,000 (-10.8%)

Midtown West | Condominium | 4 Bedrooms, 4.5 Baths | 4,295 ft²

Central Park Tower, #80E (Corcoran Sunshine Marketing Group)

From the Listing: This north-, east-, and south-facing, three-bedroom, three-and-one-half bathroom residence boasts Central Park views from the Living/Dining Room. The formal entry foyer and gallery are fitting for this classic layout featuring ceiling heights of approximately 11-7. Floor-to-ceiling windows span the perimeter of the entire residence, filling this home with light. The layout is perfect for entertaining and provides privacy and comfort with en-suite bathrooms as well as a separate powder room for guests. Crafted by the renowned Smallbone of Devizes, the gourmet kitchen includes premium Miele appliances. See floor plan and full details here.

53 W 53
15 sponsor availabilities from $3.355M - $46.395M

53 West 53, #53A
$17,890,000 (-14.8%)

Midtown West | Condominium | 3 Bedrooms, 3 Baths | 3,889 ft²

53 West 53, #53A (Douglas Elliman Real Estate)

From the Listing: Balancing grand scale living with the intimate feeling of home, Residence 53A at 53 West 53 comprises 3,889 square feet, offering three bedrooms and a windowed study, three-and-a-half bathrooms, and north- and east-facing exposures. Gracious proportions and ceilings ranging up to approximately 11 feet set the awe-inspiring stage for world-renowned designer Thierry Despont's masterfully conceived interiors. Bespoke detailing typically reserved for privately commissioned homes abounds, while a rich yet soft palette of museum-quality finishes imbues each space with both modern glamour and timeless elegance. See floor plan and full details here.

One Wall Street
8 sponsor availabilities from $1.15M - $3.21M

One Wall Street, #830
$2,375,000 (-5.8%)

Financial District | Condominium | 2 Bedrooms, 2 Baths | 1,095 ft²

One Wall Street, #830 (Compass)

From the Listing: Immediate Occupancy. This true two bedroom 2 bathroom has a gracious open living/dining area overlooking Wall Street facing north and east. The morning light is welcoming in both bedrooms with the primary en suite. The kitchen is finished with a complete Meile package including a washer and dryer, Ten-foot ceilings throughout the living space, french oak finished floors, and custom art deco-designed molding completing this true two-bedroom home. See floor plan and full details here.

77 Greenwich Street
12 availabilities from $1.749M - $5.5M

Rendering of 77 Greenwich Street (Binyan Studios)

77 Greenwich Street, #36A
$5,500,000 (-6.4%)

Financial District | Condominium | 4 Bedrooms, 4 Baths | 2,277 ft²

77 Greenwich Street, #36A (CORE Group Marketing LLC)

From the Listing: Private In-Person & Virtual Appointments Available – Immediate Occupancy. 77 Greenwich is a LEED-certified condominium featuring direct water views from every unit and over 10,000 square feet of amenities. Residence 36A is 2,277 square feet with four bedrooms and three-and-a-half bathrooms. This brand-new home embraces abundant natural light and offers views of the harbor and Hudson River. Designed by Deborah Berke, details include stunning wide plank white oak floors, expansive floor-to-ceiling wraparound glass windows, 11-foot ceilings, custom-crafted millwork, radiant heated marble floors, and Poliform kitchens with fully integrated appliances from Wolf, Sub-Zero, and Miele. See floor plan and full details here.

Soori High Line
3 availabilities from $4.6M - $17.55M

Soori High Line exterior West Chelsea condos

Soori High Line, #5C
$5,600,000 (-21.7%)

Chelsea | Condominium | 3 Bedrooms, 3.5 Baths | 2,278 ft²

Soori High Line, #5C (Compass)

From the Listing: This 2,278 SF floor through three-bedroom, three-and-a-half-bathroom residence is designed with the distinction of a privately commissioned home, offering generous proportions and abundant light throughout. Upon arrival through an Augsburg oak paneled private elevator landing, you are welcomed into a grand double-height living room with soaring 18-foot ceilings, expansive floor-to-ceiling windows that offer sun-filled exposures, Augsburg oak paneled walls, and an elegant gas fireplace with floating Nero Marquina marble slab hearth. See floor plan and full details here.

100 Franklin Street
One availability for $6.795M

DDG

100 Franklin Street, #PH
$6,795,000 (-2.9%)

Tribeca | Condominium | 3 Bedrooms, 3.5 Baths | 2,854 ft²

100 Franklin Street, #PH (Douglas Elliman Real Estate)

From the Listing: Introducing the Penthouse at 100 Franklin Street. Offering 2,854 square feet of grandiose Tribeca living. This three-bedroom, three-and-a-half bath duplex residence features an expansive 946 square-foot private roof terrace, offering prime city views.Light abounds with a wall of windows facing East and a Southern corner in both the primary bedroom suite and enormous entertaining room. See floor plan and full details here.

277 Fifth Avenue
5 availabilities from $2.01M - $9.995M

277 Fifth Avenue, #46B
$9,995,000 (-13.1%)

Flatiron/Union Square | Condominium | 3 Bedrooms, 3.5 Baths | 2,333 ft²

277 Fifth Avenue, #46B (Douglas Elliman Real Estate)

From the Listing: .Introducing Loggia Residence 46B, an exceptional three-bedroom, three-and-one-half bathroom home spanning 2,333 interior SF. With exposures to the North, East, and South, Loggia Residence 46B also features a private 206 SF Southern-facing terrace. An entertainer's dream, Loggia Residence 46B boasts spectacular ceiling heights up to 20' and 5 1/2" wide American White Oak floors. Massive floor-to-ceiling windows frame jaw-dropping views of Downtown Manhattan, The Empire State Building, and both East and Hudson Rivers. See floor plan and full details here.

200 East 59th Street
16 availabilities from $1.745M - $42.5M

(Macklowe)

200 East 59th Street, #26D
$4,395,000 (-21.9%)

Midtown East | Condominium | 2 Bedrooms, 2.5 Baths | 1,555 ft²

200 East 59th Street, #26D (Douglas Elliman Real Estate)

From the Listing: This spacious, half-floor 1,555 square-foot, two-bedroom, two-and-a-half bath residence features floor-to-ceiling windows and an expansive north-facing terrace with sweeping views of the iconic Queensboro Bridge and East River.The 354 square-foot terrace seamlessly connects the great room to an open kitchen outfitted with Italian white glass and aluminum trim cabinetry by Aran Cuchine, book matched honed Calacatta marble slab countertops, a natural white oak island and full-height backsplashes, and integrated Brilliant White glass appliances by Miele including an integrated wine refrigerator. See floor plan and full details here.

35 Hudson Yards
12 availabilities from $4.2M - $16.995M

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35 Hudson Yards, #7801
$13,750,000 (-22.6%)

Midtown West | Condominium | 4 Bedrooms, 4.5 Baths | 3,848 ft²

35 Hudson Yards, #7801 (Corcoran Group)

From the Listing: This expertly planned four-bedroom residence boasts 10'10" ceilings, lavish satin finish wide plank French oak floors, and stunning views of the Hudson River from every room. The expansive corner Great Room and separate Dining Room make this the perfect home for entertaining! The windowed eat-in kitchen has been outfitted with luxurious Smallbone of Devizes cabinetry with opal white marble counters and backsplash. See floor plan and full details here.

Flatiron House
8 available listings for $3.55M - $15.95M

Flatiron House and view south over lower Manhattan

Flatiron House, #19A
$12,750,000 (-17.7%)

Chelsea | Condominium | 4 Bedrooms, 4 Baths | 3,192 ft²

Flatiron House, #19A (Corcoran Sunshine Marketing Group)

From the Listing: Designed by COOKFOX Architects and encompassing a full floor, Residence 19A offers a 3,192 SF interior and 932 SF of private terrace and planted irrigated loggia. This four-bedroom, four-bathroom home has sweeping 360-degree landmark views from floor-to-ceiling windows. Views include the Empire State Building, The Clocktower, the Flatiron Building, and One World Trade Center. See floor plan and full details here.

1289 Lexington
9 availabilities from $2.495M - $10.75M

1289 Lexington Avenue, #14E
$5,000,000 (-23.0%)

Carnegie Hill | Condominium | 3 Bedrooms, 3.5 Baths | 2,835 ft²

1289 Lexington Avenue, #14E (Brown Harris Stevens Residential Sales LLC)

From the Listing: Apartment 14E is a sprawling 2,835' duplex with three oversized bedrooms, three-and-a-half baths, soaring 11' ceilings, walls of windows that fill the apartment with eastern light, and bespoke finishes by Architectural Digest Hall of Famer Lee Mindel of SheltonMindel. See floor plan and full details here.

The Brooklyn Grove
7 availabilities from $675K - $1.795M

The Brooklyn Grove, #16M
$675,000 (-6.9%)

Downtown Brooklyn | Condominium | Studio, 1 Bath | 467 ft²

The Brooklyn Grove, #16M (Nest Seekers LLC)

From the Listing: Residence 16M at 10 Nevins is a 467 Square foot studio featuring a spacious open living area, ceiling heights just shy of 10’, a large walk-in closet, washer/dryer and a gracious entry foyer. With interiors designed by ODA New York, The Brooklyn Grove features a subtle mingling of organic materials and lush textures. See floor plan and full details here.

Bloom on Forty Fifth
15 availabilities from $785K - $2.051M

Bloom on Forty Fifth via Compass

Bloom on Forty Fifth, #327
$1,840,000 (-26.1%)

Midtown West | Condominium | 2 Bedrooms, 2 Baths | 1,112 ft²

Bloom on Forty Fifth, #327 (Keller Williams NYC)

From the Listing: This remarkable 2-bedroom, 2-bathroom residence is the first resale within this prestigious community, offering an exclusive opportunity. Spanning an expansive 1,112 square feet, this residence boasts South and East exposures, allowing an abundance of natural light to flood the space through floor-to-ceiling, double-glazed windows. See floor plan and full details here.

LUNA
One availability for $1.895M

LUNA, #101
$1,895,000 (-5%)

Gowanus | Condominium | 2 Bedrooms, 3 Baths | 1,918 ft²

LUNA, #101 (THE DEVELOPMENT MARKETING TEAM)

From the Listing: Upon entering this duplex unit, you're greeted by stunning oversized arched windows leading to your private terrace - perfect for entertaining and maximum relaxation.Effortlessly convert the lower level into a grand primary suite complete with additional outdoor space, in-unit laundry, an oversized full bathroom, a walk-in closet, and a private entrance.Other features in the home include a kitchen with custom cabinetry imported from Italy, Carrara marble countertops, and Miele appliances. The bathrooms feature custom designed vanities with backlit arch-topped medicine cabinets tying in the arched windows seen throughout the home.The building offers a part-time doorman with virtual back-up, lounge seating in the lobby, furnished rooftop terrace with views of the Manhattan skyline, fitness center, playroom, and bicycle storage. Private storage included. See floor plan and full details here.

One United Nations Park
12 availabilities from $1.2M - $6.5M

One United Nations Park, #42H
$4,450,000 (-24.6%)

Murray Hill | Condominium | 3 Bedrooms, 3.5 Baths | 2,164 ft²

One United Nations Park, #42H (Corcoran Sunshine Marketing Group)

From the Listing: Residence 42H at One United Nations Park is a 2,164sf three bedroom, three-and-a-half bathroom residence with breathtaking Manhattan skyline and river views. With northwest exposure, this residence boasts views of the Empire State, the Chrysler Building and the United Nations. The generous layout features an expansive great room and open kitchen with a large island, separate laundry room and wide entry foyer. See floor plan and full details here.

Vandewater
22 availabilities from $1.06M - $4.3M

Vandewater, #9C
$1,750,000 (-6.4%)

Morningside Heights | Condominium | 2 Bedrooms, 2 Baths | 1,243 ft²

Vandewater, #9C (Brown Harris Stevens Development Marketing LLC)

From the Listing: Significant price reduction on select units through 2023. Spacious corner 2 BR / 2 BTH with open eastern views and north garden views. This 1243 sf unit, with double exposure, enjoys 10 windows facing North and East and offers a large foyer, and open kitchen with a wine cooler. The master bedroom includes an en-suite bathroom with a double vanity and a walk-in closet. See floor plan and full details here.

The Benny
Two availabilities from $698K - $1.1M

The Benny, #7D
$1,100,000 (-0.9%)

Prospect Lefferts Gardens | Condominium | 2 Bedrooms, 2 Baths | 1,033 ft²

The Benny, #7D (Real New York)

From the Listing: 95% Sold Immediate closings Last two bed in the building Be the FIRST to live in this beautiful double exposure, floor-through south and north facing two bedroom, two bathroom home. This residence is outfitted in modern, natural finishes: white oak hardwood floors run throughout, while matte white cabinetry and polished white quartz kitchen countertops create a light, airy feel. See floor plan and full details here.

Lexi Condos
5 availabilities from $850K - $2.495M

Lexi Condos, #10C
$1,400,000 (-12.8%)

Murray Hill | Condominium | 1 Bedroom, 1 Bath | 765 ft²

Lexi Condos, #10C (REAVIS PARTNERS LLC)

From the Listing: A brand new Kips Bay condo saturated with natural light, this inviting 1-bedroom, 1-bathroom home is an effortless blend of classic city elegance and contemporary design. Features of this 765 sq. ft. apartment include beautiful white oak floors, floor-to-ceiling windows, custom light fixtures, and a convenient in-unit Miele washer/dryer. See floor plan and full details here.

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Central Park Tower
14 sponsor availabilities from $6.5M - $195M

Central Park Tower, #80E
$29,500,000 (-10.8%)

53 W 53
15 sponsor availabilities from $3.355M - $46.395M

53 West 53, #53A
$17,890,000 (-14.8%)

One Wall Street
8 sponsor availabilities from $1.15M - $3.21M

One Wall Street, #830
$2,375,000 (-5.8%)

77 Greenwich Street
12 availabilities from $1.749M - $5.5M

77 Greenwich Street, #36A
$5,500,000 (-6.4%)

Soori High Line
3 availabilities from $4.6M - $17.55M

Soori High Line, #5C
$5,600,000 (-21.7%)

100 Franklin Street
One availability for $6.795M

100 Franklin Street, #PH
$6,795,000 (-2.9%)

277 Fifth Avenue
5 availabilities from $2.01M - $9.995M

277 Fifth Avenue, #46B
$9,995,000 (-13.1%)

200 East 59th Street
16 availabilities from $1.745M - $42.5M

200 East 59th Street, #26D
$4,395,000 (-21.9%)

35 Hudson Yards
12 availabilities from $4.2M - $16.995M

Select which properties are of interest to you:

35 Hudson Yards, #7801
$13,750,000 (-22.6%)

Flatiron House
8 available listings for $3.55M - $15.95M

Flatiron House, #19A
$12,750,000 (-17.7%)

1289 Lexington
9 availabilities from $2.495M - $10.75M

1289 Lexington Avenue, #14E
$5,000,000 (-23.0%)

The Brooklyn Grove
7 availabilities from $675K - $1.795M

The Brooklyn Grove, #16M
$675,000 (-6.9%)

Bloom on Forty Fifth
15 availabilities from $785K - $2.051M

Bloom on Forty Fifth, #327
$1,840,000 (-26.1%)

LUNA
One availability for $1.895M

LUNA, #101
$1,895,000 (-5%)

One United Nations Park
12 availabilities from $1.2M - $6.5M

One United Nations Park, #42H
$4,450,000 (-24.6%)

Vandewater
22 availabilities from $1.06M - $4.3M

Vandewater, #9C
$1,750,000 (-6.4%)

The Benny
Two availabilities from $698K - $1.1M

The Benny, #7D
$1,100,000 (-0.9%)

Lexi Condos
5 availabilities from $850K - $2.495M

Lexi Condos, #10C
$1,400,000 (-12.8%)

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