Price Cuts: "Queen of Versailles" penthouse slashed by over $6M; Reductions at Gracie Green

By CityRealty Staff | From Future New York Wednesday, November 6, 2024

From October 29 - November 4, 2024, approximately 200 condos, co-ops, condops, and townhouses in the greater New York City area experienced price reductions. Among them was a top-floor penthouse at Emigrant International Savings Bank turned luxury condominium 49 Chambers Street owned by Jackie and David Siegel, the couple featured in award-winning documentary and future Broadway musical The Queen of Versailles. They sought $19.5 million for it when they listed it in January 2024, but a price reduction brings it down to $12,950,000. But even at this lower price, they still stand to make a profit, having paid $8.7 million for it in 2023. The Siegels are only the second owners of the penthouse.

-33.6% | -$6,650,000

49 Chambers Street, #PHB
$12,950,000

Tribeca | Condominium | 3 Bedrooms, 3 Baths | 3,924 ft²

49 Chambers Street, #PHB (Douglas Elliman Real Estate)

From the Listing: Welcome to Penthouse B at 49 Chambers; the epitome of urban luxury, offering 4,800 square feet of interior and exterior living. Situated on the top floor of one of Manhattan's most iconic Beaux-Arts landmark buildings, this 3-bedroom (plus study), 3-full and 2-half-bath residence spans two floors of exquisite attention to detail. As you step into the expansive living and dining area, you are greeted by abundant natural light and iconic New York City views streaming in from three exposures - south, east, and west. A grand staircase from the living room leads to your private outdoor terrace, spanning over 850 square feet. See floor plan and full details here.

Further uptown in Yorkville, four units at boutique condominium Gracie Green experienced price reductions. All residents enjoy abundant light from oversized casement windows, sleek kitchens with top-of-the-line appliances, a thoughtful amenity package, and a tranquil Upper East Side address near Carl Schurz Park and Asphalt Green. However, it is located in an increasingly crowded Upper East Side market, with flashier and more centrally located buildings commanding luxury buyers' attention.

A borough away in Brooklyn's Flatbush neighborhood, three units at Avanti had their prices reduced. The one-bedroom units all offer private balconies, oversized double-pane windows, open-concept layouts, sleek kitchens with stainless steel appliances, luxurious baths, and in-unit laundry. The building is nearly 50% sold, and the reductions come at a time when, as the listings note, the final phase of sales is underway in the building.

These homes, along with other notable listings and a full chart of price reductions, may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.

Listings with notable price reductions

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-7.6% | -$496,000

353 Central Park West, #7
$5,999,000

Central Park West | Condominium | 4 Bedrooms, 4 Baths | 2,733 ft²

353 Central Park West, #7 (Brown Harris Stevens Residential Sales LLC)

From the Listing: This remarkable full-floor condominium boasts breathtaking views of Central Park and the city skyline, spanning a sprawling and flexible layout encompassing 3-4 bedrooms, 4 full bathrooms, a formal dining room, and a contemporary windowed kitchen. Upon exiting the elevator, you're welcomed into a grand entry foyer adorned with opulent white marble, leading into a generous gallery space. The expansive 30-foot corner living room captivates with its open East and South exposures, framed by floor-to-ceiling windows offering captivating vistas of Central Park and the city. Private storage for each apartment. See floor plan and full details here.

-16.5% | -$950,000

One Beekman, #STUDIOAB
$4,800,000

Beekman/Sutton Place | Cooperative | 5 Bedrooms, 3.5 Baths | 4,400 ft²

One Beekman, #STUDIOAB (Next Stop NY)

From the Listing: This rare and unique duplex garden apartment in an exclusive cooperative redefines elegance and sophistication. Spanning 11 exquisite rooms, the residence features 4 lavish bedrooms, a wood-paneled library, a formal dining room, and a jaw-dropping 24'6" x 42'6" living room with soaring double-height ceilings. A private elevator enhances convenience and privacy by allowing seamless access between floors. Enjoy the serenity of your private garden with an exclusive entrance from 49th Street, perfect for intimate gatherings or events. See floor plan and full details here.

-16.9% | -$875,000

551W21, #4A
$4,300,000

Chelsea | Condominium | 2 Bedrooms, 2.5 Baths | 2,113 ft²

551W21, #4A (Corcoran Group)

From the Listing: Inspired by the works of Oscar Niemeyer, Lina Bo Bardi, and Jorge Almeida, no expense was spared in creating this aspirational "Brazilian Modern" designed oasis. Residence 4A offers refined elegance where every detail has been thoughtfully considered. Throughout this spacious home, floors have been expertly refinished, and the finest textiles were incorporated throughout the apartment, including top-tier vendors such as Raf Simons, Sandra Jordan, and Holland & Sherry. With extensive built-ins, custom furniture, and some of the most impressive millwork done today, 4A is a special property for the most discerning buyer. See floor plan and full details here.

-27.7% | -$1,625,000

77 Greenwich Street, #36A
$4,250,000

Financial District | Condominium | 4 Bedrooms, 3.5 Baths | 2,277 ft²

77 Greenwich Street, #36A (Christies International Real Estate Group LLC)

From the Listing: Introducing Cloud Club Residences at 77 Greenwich Street! Every home in this luxury defining condominium features a direct view of the New York Harbor. This brand new four-bedroom, three and a half-bath, 2,277-square-foot home includes floor-to-ceiling crystalline glass windows allowing for an abundance of natural light, stunning water views and soaring ceilings of close to 11 feet. The Deborah Berke custom designed European Poliform kitchen is equipped with an elegant, honed Blue de Savoie marble countertop and backsplash, Grohe faucets, and fully-integrated top of the line appliances from Wolf, Sub-Zero, and Miele. See floor plan and full details here.

-23.1% | -$902,000

Park Avenue Court, #R26D
$2,998,000

Carnegie Hill | Condominium | 3 Bedrooms, 3.5 Baths | 1,832 ft²

Park Avenue Court, #R26D (Berkshire Hathaway HomeServices New York Properties)

From the Listing: Don't miss this rarely available high-floor three-bedroom, three-and-a-half-bathroom home featuring grand proportions, move-in ready designer interiors, stunning open-sky views and a tranquil ambiance. Ceilings soar 11-13 feet tall over gleaming stone tile, luxurious carpeting and expansive windows along the northern and eastern exposures. A gracious foyer with an oversized coat closet ushers you into the sun-splashed great room, an impressive space where large open-plan living and dining areas feature wide-open city views and custom under-window built-in cabinetry. Chefs will adore the amazing windowed eat-in kitchen. See floor plan and full details here.

-16.7% | -$500,000

19 East 88th Street, #7A
$2,500,000

Carnegie Hill | Cooperative | 3 Bedrooms, 2.5 Baths

19 East 88th Street, #7A (Compass)

From the Listing: Located in a stunning Art Deco-era building, this prewar gem features grandly proportioned rooms that are flooded with light and, at an estimated 1,800 square feet, this beautiful home can easily be reimagined into a full 3-bedroom. You enter through a spacious foyer that leads to an elegant sunken living room. The highlight of this graciously sized room are the large corner windows that afford breathtaking south-facing city views. The foyer also flows seamlessly to a large, formal dining room as well to an oversized primary suite. See floor plan and full details here.

-7.8% | -$195,000

101 South 4th Street, #1
$2,295,000

Williamsburg | Condominium | 2 Bedrooms, 3.5 Baths | 2,288 ft²

101 South 4th Street, #1 (Ferenets Iryna)

From the Listing: Welcome to your new home in this stunning, modern, sun-flooded 2-bedroom, 3.5-bathroom triplex. This luxurious residence features high-end finishes, central AC, heated radiant floors, and an expansive private garden, all within a boutique condominium in the heart of Williamsburg. Upon entering, you’ll be captivated by the spectacular entertainment dining area and open kitchen, adorned with natural wood tones and Bosch appliances. The generous living room, with floor-to-ceiling windows, overlooks a private backyard. See floor plan and full details here.

-15% | -$300,000

The Morningside Condominiums, #PH7A
$1,695,000

Harlem | Condominium | 3 Bedrooms, 2.5 Baths | 1,501 ft²

The Morningside Condominiums, #PH7A (Compass)

From the Listing: Residence PH7A at 306 West 116th Street, presents an unparalleled opportunity to own a full-floor penthouse surrounded by two terraces. Upon entry, an inviting foyer leads to the open living and dining areas, highlighted by floor-to-ceiling windows. The open layout of the kitchen flows seamlessly into the living room space and adjoining terrace which is accessed by double glass doors. Off the foyer, down the hall, lies the serene and private south-facing primary bedroom. The apartment transfers with one large storage cage in the basement. See floor plan and full details here.

-5.1% | -$80,000

The Dovecote, #FL5
$1,495,000

Harlem | Condominium | 3 Bedrooms, 2 Baths | 1,402 ft²

The Dovecote, #FL5 (Brown Harris Stevens Residential Sales LLC)

From the Listing: Experience sustainable luxury in this 3-bed, 2-bath residence at The Dovecote, where design, functionality, and Passive House sustainability converge seamlessly. Accessed through a private elevator vestibule, the home features premium interior finishes, sound-attenuating windows for natural light, timeless white oak flooring, and an efficient VRF HVAC system. The heart of the home includes a kitchen with Caesarstone countertops, Porcelanosa backsplash, custom lacquered cabinetry, and a prominent Bosch stainless steel appliance suite. See floor plan and full details here.

-12.4% | -$199,000

Gracie Green, #2B
$1,400,000

Yorkville | Condominium | 2 Bedrooms, 2 Baths | 1,147 ft²

Gracie Green, #2B (Douglas Elliman Real Estate)

From the Listing: Residence #2B is a luminous and oversized 2-bed, 2-bath apartment with 2 private balconies at Gracie Green, a stunning new development in a tranquil pocket of the Upper East Side. This pin-drop quiet residence spans the entire length of the building and offers two private outdoor spaces with southwest and northwest double exposures, along with nearly 10' ceilings, white-oak flooring and oversized French casement windows. The sleek kitchen features honed marble countertops and backsplash, custom lacquer cabinetry with LED lighting, and a top-of-the-line appliance package. See floor plan and full details here.

-16.7% | -$250,000

The Williamsburg Firehouse Lofts, #C2
$1,250,000

Williamsburg | Condominium | 1 Bedroom, 2 Baths | 1,911 ft²

The Williamsburg Firehouse Lofts, #C2 (Corcoran Group)

From the Listing: Bursting with history, charm and emanating the spirit of Brooklyn, this quintessential conversion offers a truly once-in-a-lifetime opportunity to own a piece of New York City history, and to make it your dream home. Jaw-dropping, 16-foot barrel vaulted ceilings, and walls of beautiful exposed brick envelope each space. Loft C2 is a massive, nearly 2,000-square-foot space on the ground floor with a 550-square-foot yard and 18' ceilings See floor plan and full details here.

-15.7% | -$185,000

Worldwide Plaza, #5DD
$990,000

Midtown West | Condominium | 1 Bedroom, 1 Bath | 769 ft²

Worldwide Plaza, #5DD (Brown Harris Stevens Residential Sales LLC)

From the Listing: Enjoy life in the city that never sleeps in this sun-filled duplex one-bedroom oasis at the iconic Worldwide Plaza. Relish in open city views, with the added bonus of a private terrace that's ideal for morning coffee or evening wind downs. On the first floor, the renovated kitchen, outfitted with stainless steel appliances, opens into the spacious living area, with space for dining - perfect for hosting guests or winding down after a day's exploration in the city. Upstairs, the landing provides a gracious entry to the large bedroom and the bathroom. See floor plan and full details here.

-7.1% | -$64,000

The Regency, #15C
$835,000

Lenox Hill | Cooperative | 1 Bedroom, 1 Bath | 800 ft²

The Regency, #15C (Douglas Elliman Real Estate)

From the Listing: This beautifully appointed and newly renovated, high floor home offers a spacious layout with elegant trimmings throughout. The sunlit apartment boasts excellent views, a spacious living room and open layout to the dining room, new kitchen with high-end appliances and a large bathroom with heated floors. The crown moldings and oak floors offer an elegant feel and flow thought the apartment. See floor plan and full details here.

-10.9% | -$85,000

310 West 106th Street, #16D
$695,000

Riverside Dr./West End Ave. | Cooperative | 1 Bedroom, 1 Bath

310 West 106th Street, #16D (Compass)

From the Listing: Apartment #16D is a beautiful pre-war one-bedroom cooperative apartment with open skyline, Riverside Park, and Hudson River views. Classic prewar charm includes high ceilings, crown moldings, a glass transom leading into the kitchen, and hardwood floors. Unusual in a prewar apartment, 16D has abundant closet space, including an enormous walk in closet in the foyer. See floor plan and full details here.

-14.3 | -$104,000

11 Irving Place, #2B
$625,000

Clinton Hill | Condominium | 1 Bedroom, 1 Bath | 664 ft²

11 Irving Place, #2B (Corcoran Group)

From the Listing: Nestled in the heart of Clinton Hill, Residence #2B presents an unparalleled blend of intimacy and opulence in a cozy, 8-unit walk-up building. Step inside to discover elevated elegance complemented by beautiful hardwood floors that flow seamlessly throughout the space, illuminated by recessed lighting. The living room, bathed in natural light from its east-facing windows, overlooks a tranquil garden, creating a peaceful retreat for relaxation or entertaining. See floor plan and full details here.

-5.6% | -$25,000

Avanti, #3A
$425,000

Flatbush | Condominium | 1 Bedroom, 1 Bath | 578 ft²

Avanti, #3A (Corcoran Group)

From the Listing: The final phase of sales has commenced at the Avanti, a 45-unit boutique condominium located in the heart of booming and bustling Flatbush. With comfort, convenience, and function at the forefront of design, these beautiful condominiums offer plenty of room for living, dining, storage and more. King-sized bedrooms, commodious foyers, private terraces, and an array of in-unit and building amenities elevate the standard of living to the next level. See floor plan and full details here.

Would you like to tour any of these properties?

This is your member's center

-33.6% | -$6,650,000

49 Chambers Street, #PHB
$12,950,000

In this article:

Listings with notable price reductions

Select which properties are of interest to you:

-7.6% | -$496,000

353 Central Park West, #7
$5,999,000

-16.5% | -$950,000

One Beekman, #STUDIOAB
$4,800,000

-16.9% | -$875,000

551W21, #4A
$4,300,000

-27.7% | -$1,625,000

77 Greenwich Street, #36A
$4,250,000

-23.1% | -$902,000

Park Avenue Court, #R26D
$2,998,000

-16.7% | -$500,000

19 East 88th Street, #7A
$2,500,000

-7.8% | -$195,000

101 South 4th Street, #1
$2,295,000

-15% | -$300,000

The Morningside Condominiums, #PH7A
$1,695,000

-5.1% | -$80,000

The Dovecote, #FL5
$1,495,000

-12.4% | -$199,000

Gracie Green, #2B
$1,400,000

-16.7% | -$250,000

The Williamsburg Firehouse Lofts, #C2
$1,250,000

-15.7% | -$185,000

Worldwide Plaza, #5DD
$990,000

-7.1% | -$64,000

The Regency, #15C
$835,000

-10.9% | -$85,000

310 West 106th Street, #16D
$695,000

-14.3 | -$104,000

11 Irving Place, #2B
$625,000

-5.6% | -$25,000

Avanti, #3A
$425,000

This is your member's center

-33.6% | -$6,650,000 49 Chambers Street, #PHB$12,950,000

In this article:

Listings with notable price reductions

Select which properties are of interest to you:

-7.6% | -$496,000 353 Central Park West, #7$5,999,000

-16.5% | -$950,000 One Beekman, #STUDIOAB$4,800,000

-16.9% | -$875,000 551W21, #4A$4,300,000

-27.7% | -$1,625,000 77 Greenwich Street, #36A$4,250,000

-23.1% | -$902,000 Park Avenue Court, #R26D$2,998,000

-16.7% | -$500,000 19 East 88th Street, #7A$2,500,000

-7.8% | -$195,000 101 South 4th Street, #1$2,295,000

-15% | -$300,000 The Morningside Condominiums, #PH7A$1,695,000

-5.1% | -$80,000 The Dovecote, #FL5$1,495,000

-12.4% | -$199,000 Gracie Green, #2B$1,400,000

-16.7% | -$250,000 The Williamsburg Firehouse Lofts, #C2$1,250,000

-15.7% | -$185,000 Worldwide Plaza, #5DD$990,000

-7.1% | -$64,000 The Regency, #15C$835,000

-10.9% | -$85,000 310 West 106th Street, #16D$695,000

-14.3 | -$104,000 11 Irving Place, #2B$625,000

-5.6% | -$25,000 Avanti, #3A$425,000

Select which properties are of interest to you:

Listings in this article

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-33.6% | -$6,650,000

49 Chambers Street, #PHB
$12,950,000

-7.6% | -$496,000

353 Central Park West, #7
$5,999,000

-16.5% | -$950,000

One Beekman, #STUDIOAB
$4,800,000

-16.9% | -$875,000

551W21, #4A
$4,300,000

-27.7% | -$1,625,000

77 Greenwich Street, #36A
$4,250,000

-23.1% | -$902,000

Park Avenue Court, #R26D
$2,998,000

-16.7% | -$500,000

19 East 88th Street, #7A
$2,500,000

-7.8% | -$195,000

101 South 4th Street, #1
$2,295,000

-15% | -$300,000

The Morningside Condominiums, #PH7A
$1,695,000

-5.1% | -$80,000

The Dovecote, #FL5
$1,495,000

-12.4% | -$199,000

Gracie Green, #2B
$1,400,000

-16.7% | -$250,000

The Williamsburg Firehouse Lofts, #C2
$1,250,000

-15.7% | -$185,000

Worldwide Plaza, #5DD
$990,000

-7.1% | -$64,000

The Regency, #15C
$835,000

-10.9% | -$85,000

310 West 106th Street, #16D
$695,000

-14.3 | -$104,000

11 Irving Place, #2B
$625,000

-5.6% | -$25,000

Avanti, #3A
$425,000