Renovating a New York apartment has always been a challenge, but labor shortages and supply chain issues have only added to the woes in recent days. A recent report from UrbanDigs found that Manhattan buyers are going to great lengths to avoid all that: The gap in sales prices between newly renovated apartments and those requiring work has widened by 30 percent, the second-largest divide in a decade. The Real Deal spoke with brokers who cited pied-a-terre buyers and the continued remote work as factors at work here.
In this article:
“Buyers are willing to spend an additional $100,000 to $200,000 to purchase a fully renovated home” - Ted Karagannis, Warburg Realty
The report comes at a time when there were 307 price-improved sale listings over the past week at a median discount of 6% ($60,000). The median asking price of a discounted listing was $1.04 million, skewing mostly unrenovated post-war co-ops and consistent with the recent trends.
Eagle Warehouse & Storage Company via Compass
Among the discounted listings was the Brooklyn Heights loft that was previously owned by David Burke, who was the first (and so far only) American to win the prestigious Meilleurs Ouvriers de France Diplome d’Honneur during his tenure as executive chef at River Cafe. His current New York restaurants include David Burke Tavern and Mister French, both of which showcase Mr. Burke’s contemporary and creative approach to the classics. However, after moving to New Jersey in 2016, he has opened a number of restaurants throughout the state, the most recent being 1776 by David Burke in Morristown. (His firm also operates BLT Prime, the main lobby restaurant in Trump International Hotel Washington, DC.)
Last week, Mr. Burke's Brooklyn apartment was discounted by $600K to $1.65 million. Appropriately enough for a chef, the apartment’s kitchen features generous quartz countertops and appliances by Bosch and Sub-Zero.
Last week, Mr. Burke's Brooklyn apartment was discounted by $600K to $1.65 million. Appropriately enough for a chef, the apartment’s kitchen features generous quartz countertops and appliances by Bosch and Sub-Zero.
Another notable discount took place at 232 West 15th Street, a Greek Revival townhouse located where the West Village gives way to Chelsea. The townhouse has been on and off the market since 2008, and current listing photos show that some of the more unique details have been removed. The townhouse’s mechanicals have been updated, and features include a backyard, private roof deck, four fireplaces, two saunas, and an indoor saltwater pool. However, the recent renovations and attractive location still fail to entice: The price was reduced by $550K last week.
↓ The townhouse is currently configured as a triplex garden apartment with two full-floor units, but can be used as a single-family home.
↓ The heart of the garden level is a 30-foot saltwater pool enhanced by exposed brick and a cascading waterfall.
↓ The pool level also houses a sauna, poolside wet bar, and double-height solarium opening up to the backyard.
↓ Interior features include exposed brick walls, floating staircase, self-irrigated planters, and state-of-the-art kitchen.
↓ An oversized primary suite enjoys direct garden views and a free-standing tub in the bath.
↓ The two-bedroom simplex features a wood-burning fireplace, exposed brick walls, and northern and southern exposures.
↓ The two-bedroom penthouse is flooded with natural light from a massive skylight.
↓ The roof deck features a sauna, laundry room, plantings, and open neighborhood views.
All images of 235 East 57th Street via Compass
From the Listing: Welcome home to this move-in ready, generously proportioned alcove studio on Billionaires Row! Located on a high floor, this home provides ample light through an entire wall of windows, as well as fantastic views of the city. The alcove provides for a separate sleeping area large enough to accommodate a king-sized bed. In addition to a coat closet and linen closet, there is an enormous dressing room. See floor plan and full details here.
All images of 707 Willoughby Avenue via Nest Seekers
From the Listing: Features of this chic apartment include beautiful wide plank oak floors, oversized wood casement windows with aluminum-clad exteriors and Eastern exposure, an LG washer/dryer, and a spacious balcony perfect for morning coffee or evening wine. A welcoming entryway flows into an expansive open-concept living room, dining room, and kitchen saturated with natural light. The living area leads out onto the balcony, while dining room has easy access to a stylish kitchen equipped with an eat-in peninsula, custom white matte laminate cabinets, elegant white stone countertops, a bold Calcutta porcelain backsplash, and a suite of high-end Blomberg appliances. The bedroom has a large reach-in closet and easy access to a pristine full bathroom adorned with Italian porcelain walls and floors, a custom floating vanity, sleek matte black fixtures, and a deep soaking tub. See floor plan and full details here.
All images of The Blair House via Compass
From the Listing:
Located on a high floor with fantastic light, this apartment has endless possibilities. The large living area can easily be converted to include a second bedroom. The primary bedroom can accommodate a king-sized bed, and includes a double-wide closet. The spacious galley kitchen features cabinets and countertops on both sides. See full details here.
860 United Nations Plaza via Brown Harris Stevens
From the Listing: Every corner of apartment 10D has been reimagined with a master's eye for detail. Enter into an expansive living room featuring newly installed European walnut floors in a herringbone pattern. As you pass through doorways, all have been lifted to a uniform 9 feet high, giving the illusion of soaring ceilings. The walls are covered in stucco veneziano, this handcrafted finish catches and reflects the light from the windows that span the width of the entire apartment. An overall impression of clean lines, glittering light, and sumptuous surfaces define this elegant space. There is a gorgeous glimpse of the east river and when you have a need for privacy there are automatic sunshades that easily close. See floor plan and full details here.
All images of 124 East 84th Street via Compass
From the Listing: This classic pre-war two bedroom apartment, located between Park and Lexington Avenues, features two spacious bedrooms, a large living room/dining area and bright southern exposures! The windowed pass-through kitchen has granite countertops, a Bosch refrigerator, and a dishwasher. The bathrooms are nicely appointed with subway tiles and floors complimenting the original prewar style. The south-facing apartment has 1.5 baths, 9 foot beamed ceilings, herringbone wood floors, and excellent closet space throughout (a walk-in closet in the primary bedroom), and updated windows. See floor plan and full details here.
140 East 40th Street via Sotheby's International Realty
From the Listing: Unique split two-bedroom, two-bathroom seamlessly combined unit located in convenient Murray Hill is a prewar co-op opportunity you won't want to miss. Entering into the proper foyer, to the left is the living and dining area with a northern exposure allow for soft light to flood the space throughout the day. This area sits adjacent to the windowed-kitchen with a full (breakfast) bar perfect for either hosting or casual dining. Moving onto the rather large master bedroom with an en-suite master bathroom and walk-in closet. Finally, a second bedroom with adjacent full bathroom allows for tremendous flexibility. See floor plan and full details here.
All images of Be@William via Core Group NYC
From the Listing: Ideally situated in the Financial District, this well-laid-out, one-bedroom plus home office enjoys modern upgrades, soaring ceilings, and 1,072 square feet of living space in a sought-after, full-service condominium. Defining features include double-pane insulated windows, solid white oak hardwood floors, and an in-unit washer/dryer. The sleek kitchen, open to the living and dining room, is outfitted with white glacier countertops and custom appliances. A private storage unit located on the same floor is included in the sale, and residents enjoy an unmatched amenity package including a 24-hour doorman and concierge, Sky Lounge featuring a state-of-the-art entertainment center with iPod docking station, billiards table, kitchenette, indoor and outdoor fireplace, a landscaped Sky Terrace featuring a barbeque grill, wet bar, and rooftop fitness center. See floor plan and full details here.
357 West 30th Street via Corcoran
From the Listing: Imagine one of NYC's favorite neighborhoods, with amenities from the famed Chelsea Market, galleries and eateries, to the entrance of the amazing High Line, and you in the heart and soul of it all in a prewar condo, in Chelsea/Hudson Yards. This spacious top floor, two-bedroom, two-bath condo is well-laid-out with huge bedrooms, a large and bright open kitchen, and two fireplaces, and is just waiting for your fine-tuning! See floor plan and full details here.
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All images of 432 West 52nd Street via Compass
From the Listing: This beautiful two bedroom corner unit features a light-filled master with en suite bathroom, as well as a spacious great room. The home is topped by 9-foot ceilings while white oak hardwood floors run underfoot. The great room provides ample space for living and dining areas while the nearby open kitchen is a model of efficient, attractive design with integrated refrigerator, stainless steel appliances, lacquer cabinets and sleek Caesarstone countertops. The large windowed primary suite is a serene space with a wall of closets, plus additional closets throughout the home ensure that storage is never an issue. The sleek bathrooms features custom vanity, frameless glass walk-in shower, gorgeous floor-to-ceiling tile and radiant heat flooring. Central climate control, energy-efficient windows and an in-unit washer-dryer provide the ultimate in comfort and convenience. See full details here.
All images of W Downtown Hotel & Residences via The Nassimi Group
From the Listing: The W Residence New York Downtown features a David Rockwell-designed lobby. Amenities include a courtyard, roof deck, terrace, exercise room, maid service, laundry service, cable TV-ready, and health club. See floor plan and full details here.
The Oliver Cromwell via Corcoran
From the Listing: Two-bedroom home in an Emery Roth-designed building's very large living/dining room has views of the historic Dakota. Both of the large bedrooms have excellent closet space, and both baths have been renovated. There is a separate fully-equipped kitchen with large pantry closet. See floor plan and full details here.
All images of 205 East 63rd Street via Warburg Realty
From the Listing: A seamless combination of two apartments, approximately 2,400 square feet, has created a sprawling and one-of-a-kind 9-room home. Renovated with no detail overlooked, this quiet 4-bedroom, 3-bathroom features a spacious and sunny living room with a small private terrace, as well as a comfortable dining area which all are perfect for entertaining. The eat-in kitchen with a separate service entrance is a chef's dream with Poggenpohl cabinets, double stainless-steel Sub-Zero refrigerators, double Miele ovens and dishwasher, and 5-burner Wolf range. The masterfully designed primary bedroom suite includes a home office study, abundant storage, and an oversized all white Porcelanosa renovated bathroom. Completing the home, there are three additional bedrooms, all with built-ins, and two fully renovated Porcelanosa bathrooms. See floor plan and full details here.
All images of The Fitzgerald via Brown Harris Stevens
From the Listing: Upon entering unit 6D, you will immediately see and feel the perfect combination of taste, sophistication, peace, quiet and space you have been looking for. This sprawling, convertible 3-bed, 2-bath home offers a gracious open concept layout that feels expansive, yet serene. The split, oversized bedrooms of the home easily fit king sized bedroom furniture and offer room for a sitting area or office nook in each of the bedrooms. With a stunning color palette, beautiful accents and modern design, the space feels current and is move in ready upon closing. Entertain in style with the open concept white lacquer chef's kitchen, which includes quartz countertops Viking appliances a Liebherr refrigerator and garbage disposal. The oversized island offers the prep space and additional seating you have been seeking and is perfect for your entertaining needs. See floor plan and full details here.
All images of Eagle Warehouse & Storage Company via Compass
From the Listing: As a landmark building, The Eagle Warehouse is a full service doorman building that dates back to the 1890's. Walt Whitman was an editor for the Brooklyn Eagle Newspaper when it is was housed in the warehouse. Townhouse G is one of the largest apartments in the building, boasting loft like living with soaring 14 foot ceilings in a 2,700-square-foot triplex space that is without question, impressive.
The apartment can allow for 3-4 sleeping areas, a separate dining room, living room, den, office/studio/work space, and a cooks kitchen to die for. An ample island and counter space is there for a chef's spread. Townhouse G was previously owned by the renowned chef David Burke. The kitchen has quartz countertops with Bosch and Sub-Zero appliances.
See floor plan and full details here.
All images of The Parkmor via Compass
From the Listing: Perched between two of the city's renowned parks, The Parkmor offers a limited selection of 14 impeccably crafted residences with timeless design elements and distinguished details. Each apartment blends luxury with functionality. From designer kitchens with high-quality appliances and components including Liebherr, Bertazzoni, Miele, Bosch, Kalista, and Waste King, to bathroom sanctuaries with top-of-the-line fixtures including Waterworks, Kohler, and Toto. Beautifully appointed 2 and 3-bedroom homes with your own outdoor space provide a perfect layout for maximum enjoyment and practicality. See floor plan and full details here.
300 East 74th Street via Brown Harris Stevens
From the Listing: Apartments needn't be cramped or places where the occupants are always usurping each other's space. This apartment is a 3- or 4-bedroom, 3-bath home of many choices. Where to sit and chat -- where to read quietly -- or where to watch TV or movies in the media room. Where to eat? At the counter that adjoins the kitchen -- or more formally at a dining room table. Owners have their choice of bedrooms -- and any one of the three beautiful bathrooms. Outside, there is a north balcony and a south balcony, and the big surprise is the little park just around the corner. See full details here.
All images of 45 West 67th Street via Douglas Elliman
From the Listing: Twenty-six floors above Central Park, and ten floors above the penthouses of Central Park West, your living room/ dining room and kitchen hang over the Park and the entire Upper East Side skyline. Besides the 30 feet of east facing frontage on the Park, framed by 10 foot wide picture windows, this corner apartment features an additional 30 feet of south facing windows overlooking Lincoln Center and the Metropolitan Opera. A gut renovation in 2018 created 35' of book ended maple cabinetry below the living room picture windows, exceptionally bright low-voltage recessed lighting in all rooms, individually controlled AC in each room, new electric, 5" white ash flooring, and new bathrooms with custom Leroy Brooks fixtures. A built in desk overlooking the Park provides an inspiring aerie for working from home. See floor plan and full details here.
57 Laight Street via Corcoran
From the Listing: Rare opportunity to own an exceptional floor-through loft in a classic prewar co-op building. This two-bedroom, two-bathroom, full-floor apartment has a large, flexible footprint which includes an open kitchen, den, and home office. Upon entering this generous space through your key locked elevator, you'll be greeted by high-ceilings and 15 oversized windows, pouring vibrant light into every room from it's northern and eastern exposures. Perfectly designed for entertaining, the gorgeous chef's kitchen features a huge island, high-end, stainless steel appliances (Sub-Zero fridge with vented range), custom cabinetry, and plenty of pantry space. Additional amenities include an in-home laundry room as well as spacious walk-in closet and abundant, built-in storage. See floor plan and full details here.
All images of Park Avenue Place via Sotheby's International Realty
From the Listing: High above on the 44th floor of Park Avenue Place condominium, this palatial duplex penthouse is a model of elegance and sophistication. Be dazzled with the double-height living room with soaring 22.5' ceilings and marvel at the exquisite Murano glass chandeliers from La Murrina. Relish on the dramatic views and the light that floods through every floor-to-ceiling window. Relax in the 53' long terrace, accessible through the living room or the kitchen. 360-degree views capture the East and Hudson Rivers, Central Park, the 59th Street Bridge, and the iconic architecture of Midtown Manhattan. The gourmet eat-in kitchen features white lacquer cabinetry, absolute black granite countertops and floors, Dornbracht fixtures, Subzero refrigerators, Miele appliances, built-in Miele coffee system and wine cooler. See floor plan and full details here.
All images of 37 East 12th Street via Brown Harris Stevens
From the Listing: Residence Four features a full-floor layout spanning over 3,000 square feet, private keyed elevator entrance, 11-foot vaulted ceilings, original cast iron columns, imported steel and hand-blown glass doors, and wood-burning fireplace. The kitchen features first white oak custom cabinetry, marble countertops, arched ceilings, subway tiled backsplash, and appliances by Miele, Wolf, and Sub-Zero. The primary bath features Calacatta marble walls, custom mosaic tile floors, stall shower and water closet, and freestanding soaking tub from Lefroy Brooks. See floor plan and full details here.
All images of LOFT67 via Douglas Elliman
From the Listing: This immaculate full-floor apartment boasts 4,650 square feet, a private elevator entry, a 42' long personal terrace, and a private deeded parking spot. As you step off the elevator into your private entryway, lined with Edelman Leather, an oversized pivot door with custom Nanz hardware opens into the gallery of the apartment featuring white lacquered walls and French Limestone, which continue into the great room. The grand living/dining space, features cerused oak panel walls as well as oversized windows with both southern and eastern exposures, allowing for sunlight all day. Located off the great room is a one-of-a-kind den starring wide wale corduroy on the floors, walls, and ceiling with exotic Brazilian wood lining the custom cabinetry. See floor plan and full details here.
All images of 111 Leroy Street via Douglas Elliman
From the Listing: This 2,985-square-foot, 2-bedroom, 2.5-bathroom full-floor penthouse residence with a 1,875-square-foot private rooftop terrace and north-, south-, and west-facing exposures is truly a masterpiece, conceived for extraordinary daily living and exceptional entertaining alike. Through the commanding blackened metal entry door, an entry foyer segues to the massive corner Great Room with approximately 13' ceilings, where striking proportions and a serene yet distinguished palette of finishes foster an elegant, warm, loft-like sensibility, and floor-to-ceiling south-and west-facing windows frame tranquil Hudson River views and bathe the space in dramatic light. The adjoining windowed chef's kitchen features rich book-matched walnut millwork with blackened metal trim, honed Statuary marble countertops and waterfall island, Flos blackened steel track lights, and top appliances by Sub-Zero, Wolf, and Miele. See floor plan and full details here.
All images of The Greenwich Lane via Compass
From the Listing: Spanning a luxurious 2,547 square feet, this home in a celebrated West Village condominium greets you with a gracious foyer opening to exceptional open-plan living spaces flooded with western light. Relax and entertain in the lavish great room, surrounded by tall ceilings and deep-stained hardwood floors. Floor-to-ceiling glass doors open to the wide paved terrace, creating an excellent indoor-outdoor flow and the perfect setting for coffee or cocktails alongside mesmerizing open-sky and city views. Anchored by a large center island, the open kitchen dazzles with marble countertops and top-notch appliances by Sub-Zero, Wolf, and Miele. Head to the lavish owner's suite to find more western views and a decadent dressing area filled with custom cabinetry and hanging rods. See floor plan and full details here.
All images of The Pierre via Christie's International Real Estate
From the Listing: Residence 2704, located on a high floor of the mythical five-star Hotel Pierre, features south, west, and northern exposures which allows for breathtaking Central Park and legendary skyline views. Stunning vistas of sunset and daybreak light emanate from the master bedroom, second bedroom and living room. Custom designed millwork by David Linley include parquet floors, closets, book shelves, doors, paneling, boiserie, and crown molding using ebony that was then polished with added black polish. Renovation and Interior Design by renowned English Decorator Anouska Hempel compliment and elevate this grand and gracious home to the highest level. Rarely available in the Pierre, this tower floor contains only two private apartments, which could be combined to create a double corner full floor 5-bedrooms and 6.5-bathroom with over 50 feet of frontage on the park and approximately 4,200 square feet of luxurious interior. See floor plan and full details here.
151 Wooster Street via Douglas Elliman
From the Listing: Impressively scaled, 6,014-square-foot duplex provides an ultra-rare opportunity to own such a sprawling apartment in the epicenter of Soho. Replete with historical details, such as original barrel vaulted ceilings, the home has two massive, open-plan living spaces, connected by an elegant internal staircase. On the lower level, the great room offers an informal living area and eat-in kitchen, with warm, wirebrushed oak millwork, wide plank floors, and richly hued botanical fabrics. The upstairs level is more urbane, with chevron floors and Art Deco detailing in deep green lacquered wood paneling with brass and glass accents. See floor plan and full details here.
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