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150 West 15th Street, #TH (Compass) 150 West 15th Street, #TH (Compass)
From November 5-11, 2024, over 250 condos, co-ops, condops, and townhouses in core areas of New York City experienced price reductions. These included the eighteenth-floor simplex at The Sherry Netherland, which attracted notoriety after a two-alarm fire in March 2023. The fire broke out hours after the apartment's owner, Chinese financier Guo Wengui, was arrested on charges of wire fraud, securities fraud, bank fraud, and money laundering; some speculated that it was started remotely (h/t New York Post).

Mr. Guo was convicted on nine of 12 counts in July 2024, and his sentencing is set for later this month. In the meantime, the apartment's listing notes that "an extensive amount of architectural planning as well as demolition has been done in recent months," presumably to repair damage from the fire. However, the well-proportioned rooms, three large terraces, and spectacular views of Central Park and the Manhattan skyline remain intact.

The fire is largely blamed for the apartment's drop in price. Mr. Guo initially sought to sell the apartment for $55 million in March 2020, five years after an LLC linked to him bought it for $67.5 million, and it has been on and off the market at gradually lower price points ever since. The most recent price reduction brings it down to $19,500,000.
25 Broad Street

In this article:

The Parkville Avenue Condominiums, 215 Parkville Avenue
The Parkville Avenue Condominiums, 215 Parkville Avenue Flatbush
The Osborne, 205 West 57th Street
The Osborne, 205 West 57th Street Midtown West
The Peter Warren Cooperative, 45 West 10th Street
The Peter Warren Cooperative, 45 West 10th Street Greenwich Village
Rockefeller Apartments, 17 West 54th Street
Rockefeller Apartments, 17 West 54th Street Midtown West
The Sherry Netherland, 781 Fifth Avenue
The Sherry Netherland, 781 Fifth Avenue Park/Fifth Ave. to 79th St.
Further downtown, prices were reduced on four listings at The Broad Exchange Building. After the Clinton & Russell-designed building was constructed in the early 20th century, 25 Broad Street was the city's highest-valued office building owing to its close proximity to the New York Stock Exchange. Over 100 years later, the Italian Renaissance Revival-style facade and double-height lobby were carefully preserved as the interiors were converted to one- and two-bedroom condos with open layouts, high-end appliances, and access to over 8,000 square feet of indoor and outdoor amenities. But the Financial District's evolution into a live-work-play neighborhood has made for an increasingly crowded residential market that includes other office conversions as well as new construction condos.
A selection of notable listings, as well as a full chart of last week's price cuts, may be found below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.



18 Gramercy Park South, #PENTHOUSE (Douglas Elliman Real Estate)

The Sherry Netherland, #18thFloor (Sothebys International Realty)

150 West 15th Street, # (Compass)

The Century, #7Q (Corcoran Group)

One Brooklyn Bridge Park, #202 (Sothebys International Realty)

The Cass Gilbert, #PHA (Coldwell Banker Warburg)

24 Gramercy Park South, #1/2E (Compass)
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240 Park Avenue South, #14B (Douglas Elliman Real Estate)

130 William, #35E (Corcoran Sunshine Marketing Group)

The Cammeyer, #3H (Elegran LLC)

77 Greenwich Street, #23A (Christies International Real Estate Group LLC)

The Broad Exchange Building, #20I (Christies International Real Estate Group LLC)

The Butler Collection, #9A (Douglas Elliman Real Estate)

The Grand Beekman, #15C (Corcoran Group)

The Boulevard, #706 (Corcoran Group)

4 West 16th Street, #4A (Douglas Elliman Real Estate)

80 Central Park West, #12C (Compass)

1st & First, #2S (Sothebys International Realty)

Rockefeller Apartments, #10A (Compass)

The Peter Warren Cooperative, #LH (The Agency Brokerage)

The Osborne, #6DE (Sothebys International Realty)

The Parkville Avenue Condominiums, #6B (Serhant)

56 West 82nd Street, #13 (Compass)
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Or call us at (212) 755-5544
Would you like to tour any of these properties?