Price Cuts: Suspense novelist's UWS home gets $355K haircut; Price reductions at Olympic Tower

By CityRealty Staff | From Great Listings Wednesday, August 21, 2024

When the Aristotle Onassis-developed Olympic Tower opened in the mid-1970s, it immediately changed the game for Fifth Avenue. The condos start on top of office space to make the most of views of the Manhattan skyline and St. Patrick's Cathedral through floor-to-ceiling windows, which were a rarity in residential buildings at the time. It also offers full-service amenities and excellent access to points of interest like Rockefeller Center, Fifth Avenue designer flagships, Grand Central Terminal, the Theater District, and Midtown offices. As such, it quickly attracted a wealthy, high-profile tenant base.

The past, present, and future of Olympic Tower, trend-setting Midtown condo skyscraper

However, recent years have seen an influx of Fifth Avenue residential buildings with higher ceilings, newer finishes, and more luxurious amenities — Aman New York Residences, Mandarin Oriental Residences Fifth Avenue, and the residential component of The Plaza come immediately to mind. Moreover, the 1,000-foot-tall 520 Fifth Avenue will offer its own residents spectacular views of the Manhattan skyline through magnificent arched windows, but is positioned in a way that obstructs Empire State Building views from Olympic Tower (see below). It is against this backdrop that four units in Olympic Tower had their prices reduced.

-14.3% | -$551,000

Olympic Tower, #36H
$3,299,000

Midtown East | Condominium | 1 Bedroom, 1.5 Baths | 1,780 ft²

Olympic Tower, #36H (Douglas Elliman Real Estate)

From the Listing: Located in one of Manhattan's premier luxury condominiums on Fifth Avenue, this southwest corner unit sits high in the sky, boasting 18 floor-to-ceiling windows. This exceptional space in the heart of Midtown Manhattan offers unbeatable views all the way down to New York City Harbor and the Freedom Tower. See floor plan and full details here.

Also of note last week, three units at Hell's Kitchen condominium NINE52 experienced price reductions. Residents of this low-rise prewar building enjoy a range of indoor-outdoor amenities like a coworking lounge, fitness center, wine tasting lounge, and courtyard with koi pond, not to mention easy access to the Theater District, Central Park, Hudson Yards, and Hudson River Park. However, a wave of new development buildings may be stealing its thunder.

329 West 71st Street, #3 (Douglas Elliman)

Further uptown, the price was reduced on the former Upper West Side home of Edgar Award-winning novelist Lawrence Sanders. According to his obituary, Mr. Sanders was born in Brooklyn, grew up in the Midwest, and returned to the city after college and a stint in the Marines. Many of his suspense and mystery novels took place in New York City, though the settings shifted to Palm Beach after Mr. Sanders moved there. His apartment has changed hands since his departure, and was most recently listed for $3.35 million in April 2024. The price was just reduced to $2,995,000, but the unidentified seller still stands to make a tidy profit, having paid only $700,000 for it in early 2009.

These homes were among approximately 130 condos, co-ops, condops, and townhouses that experienced price reductions from August 13-19, 2024. A selection of notable listings, as well as a full chart of last week's discounts, may be found below. Please be advised that all quotes figures reflect cumulative price cuts as opposed to the most recent reductions.

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-9.3% | -$51,000

142 East 49th Street, #7B
$499,000

Midtown East | Condop | 1 Bedroom, 1 Bath

142 East 49th Street, #7B (Compass)

From the Listing: Sprawling oasis one block from the iconic Waldorf Astoria has an expansive living room with a separate, windowed chef's kitchen featuring stainless steel appliances. Separate from the living room is an oversized bedroom with two closets and large windows. Adjacent to this is the updated marble bathroom - a serene escape after a long day conquering the city. See floor plan and full details here.

-12.8% | -$95,000

The Lumiere, #2I
$645,000

Midtown West | Condominium | Studio, 1 Bath | 502 ft²

The Lumiere, #2I (City Connections Realty Inc)

From the Listing: Hell's Kitchen studio boasts a perfectly sized foyer with an adjacent coat closet upon entry. The living/sleeping area is serene and accentuated by south-facing, floor-to-ceiling windows, now custom-outfitted with Hunter Douglas shades for your comfort. Central air-conditioning, bamboo flooring throughout, and a private balcony overlooking the Zen Garden complete the home, ensuring a calm and comfortable living environment. Separate storage bin in the basement included. See floor plan and full details here.

-12.1% | -$100,000

Gramercy Towers, #5H
$725,000

Gramercy Park | Cooperative | 1 Bedroom, 1 Bath

Gramercy Towers, #5H (Corcoran Group)

From the Listing: This spacious home in a doorman building has western exposure and partial views of townhouse gardens and blue skies. Oversized windows allow excellent light and the serenity of an exceptionally quiet home facing away from the street. This apartment is freshly painted, skim coated and touched up, awaiting its next owner. Key to Gramercy Park included. See floor plan and full details here.

-5.6% | -$50,000

Smithsonian Place, #508
$849,000

Harlem | Condominium | 2 Bedrooms, 2 Baths | 893 ft²

Smithsonian Place, #508 (Douglas Elliman Real Estate)

From the Listing: Residence #508 is a 893-square-foot two-bedroom and two-bathroom, offering incredible value for the space and the quality. Crisp detailing and calm colors merge effortlessly with the warmth of the late 19th-century architecture. Expansive double-glazed casement windows saturate each home with natural light, typical ceiling heights from 9 to 10 feet, white oak hardwood flooring and fitted bedroom closets and washer/dryer cabinets. See floor plan and full details here.

-9.1% | $100,000

Fabric Astoria, #306
$995,000

Astoria/LIC | Condominium | 2 Bedrooms, 2 Baths | 955 ft²

Fabric Astoria, #306 (MNS)

From the Listing: Featuring split bedrooms and an open kitchen, living, and dining concept, this expansive residence also includes an en-suite primary bathroom and floor-to-ceiling windows, offering a truly remarkable living experience. Featuring brand-new quality construction, with a robust collection of indoor and outdoor amenities, this one-of-a-kind residence elevates the concept of Queens living with a full lifestyle offering of quality design, shared community, and a culturally vibrant neighborhood. 20-year tax abatement in effect. See floor plan and full details here.

-4.4% | -$51,000

Gracie Green, #3C
$1,099,000

Yorkville | Condominium | 1 Bedroom, 1 Bath | 717 ft²

Gracie Green, #3C (Corcoran Group)

From the Listing: Residence 3C is a corner one-bed with an excellently designed layout flooded with natural light with floor-to-ceiling French casement inswing windows, high ceilings, and solid white oak flooring throughout. Seamlessly pre-wired to integrate with a home automation system to suit your lifestyle, whether it be motorized shades, speakers, or temperature control with the incorporated Mitsubishi heating and cooling system. The living and dining room opens to a 58-square-foot private terrace, blending beautifully into the crafted kitchen. See floor plan and full details here.

-7.3% | -$110,000

The Peter Stuyvesant, #AABB
$1,390,000

Riverside Dr./West End Ave. | Cooperative | 3 Bedrooms, 2 Baths | 1,476 ft²

The Peter Stuyvesant, #AABB (Corcoran Group)

From the Listing: This spacious corner 3-bedroom has large western-facing windows with lovely tree top views of Riverside Park. With an expansive living/dining area there is plenty of space for game night, Monday night football, and a private sit-down dinner with 20 of your closest friends. The kitchen has two sinks, stainless steel appliances including a dishwasher. Once two doctor offices combined into one, this beautiful apartment offers a floor plan that is truly unique. See floor plan and full details here.

-11.8% | -$200,000

The Vantage, #22A
$1,495,000

Murray Hill | Condominium | 2 Bedrooms, 2 Baths | 1,295 ft²

The Vantage, #22A (Douglas Elliman Real Estate)

From the Listing: High-floor home's expansive living and dining room offers views of the East River, Lower Manhattan, and the Empire State Building. The windowed kitchen has just been beautifully renovated and offers brand-new stainless-steel appliances, marble countertop and backsplash and white custom cabinetry. The south and east-facing primary suite boasts a walk-in closet, an en-suite bathroom and stunning views of Lower Manhattan and the Empire State Building. See floor plan and full details here.

-6% | -$105,000

NINE52, #323
$1,645,000

Midtown West | Condominium | 2 Bedrooms, 2 Baths | 1,710 ft²

NINE52, #323 (Douglas Elliman Real Estate)

From the Listing: This duplex loft in an amenity-driven building has 22-foot high ceilings and an open concept kitchen with custom cabinetry and stainless steel appliances. This spacious unit has hardwood floors throughout, washer/dryer, and plenty of space for entertaining. This home also has a multi-zone HVAC system with individual climate control and energy efficient water heat pump system. See floor plan and full details here.

-14.1% | -$325,000

Breen Towers, #8HJ
$1,975,000

Greenwich Village | Cooperative | 1 Bedroom, 2 Baths | 1,250 ft²

Breen Towers, #8HJ (Elegran LLC)

From the Listing: Nestled at the convergence of the West Village and Soho, Residence #8HJ blends post-war charm with modern updates. Its oversized windows showcase unobstructed landmark views spanning north, south, and east, bathing the open living space in natural light. A second bedroom, office space, and/or both, make this living room very versatile adjusting to your lifestyle and needs. The windowed kitchen, equipped with Miele and Sub-Zero appliances, epitomizes contemporary luxury. See floor plan and full details here.

-17.7% | -$601,000

The Briarcliffe, #8C
$2,799,000

Midtown West | Condominium | 3 Bedrooms, 3 Baths | 2,578 ft²

The Briarcliffe, #8C (Compass)

From the Listing: Experience unparalleled elegance and space in this expansive 3-bedroom, 3-bathroom residence boasting nearly 2,600 square feet of luxurious living space, with the potential to convert seamlessly into a 4-bedroom layout. Towering ceilings and oversized windows flood the interiors with natural light, enhancing the sense of space and airiness. Entertain guests in the separate dining room, creating unforgettable culinary experiences. See floor plan and full details here.

-10.6% | -$355,000

329 West 71st Street, #3
$2,995,000

Riverside Dr./West End Ave. | Cooperative | 3 Bedrooms, 3.5 Baths | 1,965 ft²

329 West 71st Street, #3 (Douglas Elliman Real Estate)

From the Listing: Filled with history, this loft-like triplex home was previously owned by a famous author. The apartment features five fireplaces, including one on the private terrace. The living area boasts gorgeous windows looking out to 71st Steet and custom built-ins, creating the perfect ambiance. The chef's kitchen, featuring a La Cornue gas range, invites gourmet inspiration and casual gatherings. The 10-foot ceilings, hand-scraped hardwood floors throughout and a tempered glass staircase add modern flair. See floor plan and full details here.

-12.8% | -$500,000

Olympic Tower, #30F
$3,400,000

Midtown East | Condominium | 2 Bedrooms, 2.5 Baths | 1,700 ft²

Olympic Tower, #30F (Douglas Elliman Real Estate)

From the Listing: Luxuriously renovated two-bedroom home boasts south-facing views of the iconic Empire State Building and the NYC skyline! Residence 30F is the only unit in Olympic Tower with this unique, split two primary suite layout, and both bedrooms come with oversized dressing areas. The apartment also boasts an award-winning Siematic custom kitchen with Miele kitchen appliances, and Miele washer/dryer. Sold furnished including Fendi bedroom set, Samsung flat screen televisions, and French red crystal chandelier. See floor plan and full details here.

-11.2% | -$546,000

The Stanwick, #10
$4,349,000

Chelsea | Condominium | 4 Bedrooms, 2 Baths | 3,000 ft²

The Stanwick, #10 (Compass)

From the Listing: Enter through your private key-locked elevator into a sprawling grand-scale living space with walls of windows facing north and west; the loft is bathed in natural light, creating a warm and inviting atmosphere, gorgeous original details, and exposed brick. The heart of the home is the professionally designed chef's kitchen, equipped with top-of-the-line stainless-steel appliances, a spacious center island, a wine cooler, and custom cabinetry offering ample storage. See floor plan and full details here.

-7.2% | -$500,000

The Rushmore, #PH1A
$6,495,000

Riverside Dr./West End Ave. | Condominium | 4 Bedrooms, 3 Baths | 3,056 ft²

The Rushmore, #PH1A (Coldwell Banker Warburg)

From the Listing: With 35 oversized windows framing unobstructed views spanning from the Hudson River to the George Washington Bridge, Central Park, Battery Park, and the Triboro Bridge, residents of this penthouse are treated to a breathtaking spectacle from every angle. Upon entering the unit via your private landing, you're immediately greeted by the enchanting New York City skyline visible through the foyer. The home has undergone a complete redesign, boasting modern amenities and sophisticated finishes throughout. See floor plan and full details here.

-17.9% | -$2,500,000

The Parkside, #11AB
$11,495,000

Park/Fifth Ave. to 79th St. | Condominium | 4 Bedrooms, 6+ Baths | 4,000 ft²

The Parkside, #11AB (Sothebys International Realty)

From the Listing: This triple mint condition Park Avenue home renovated and designed by acclaimed decorator David Kleinberg, resulting in a one-of-a-kind space that must be seen to be believed. The full floor apartment was converted from 11 rooms into 8 and is situated on a high floor with breathtaking unobstructed views in all directions. The sun-flooded prewar condo features a grand scale living room, a large gallery, and a formal dining room with 10-foot ceilings throughout the space. A private parking space in the building is included with the apartment. See floor plan and full details here.

-17.7% | -$3,001,000

Olympic Tower, #A3738
$13,999,000

Midtown East | Condominium | 4 Bedrooms, 4.5 Baths | 3,650 ft²

Olympic Tower, #A3738 (Douglas Elliman Real Estate)

From the Listing: This sophisticated duplex located in one of Manhattan's most coveted areas in the heart of Manhattan offers calm and tranquility high above Fifth Avenue. Exquisitely designed by Fran Murphy, this 10-room residence, blends light, space, and seclusion with 36 floor-to-ceiling windows wrapping around the northwest corner and accented by 9-foot ceilings. The large entrance and glamorous foyer leads into expanses of a 34 foot wide grand salon with beautiful mother-of-pearl walls. The dining area features a stunning Swarovski Crystal chandelier and the open layout is perfect for comfortable living and entertaining. The apartment is delivered turnkey and fully furnished. See floor plan and full details here.

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In this article:

The past, present, and future of Olympic Tower, trend-setting Midtown condo skyscraper

-14.3% | -$551,000

Olympic Tower, #36H
$3,299,000

Select which properties are of interest to you:

-9.3% | -$51,000

142 East 49th Street, #7B
$499,000

-12.8% | -$95,000

The Lumiere, #2I
$645,000

-12.1% | -$100,000

Gramercy Towers, #5H
$725,000

-5.6% | -$50,000

Smithsonian Place, #508
$849,000

-9.1% | $100,000

Fabric Astoria, #306
$995,000

-4.4% | -$51,000

Gracie Green, #3C
$1,099,000

-7.3% | -$110,000

The Peter Stuyvesant, #AABB
$1,390,000

-11.8% | -$200,000

The Vantage, #22A
$1,495,000

-6% | -$105,000

NINE52, #323
$1,645,000

-14.1% | -$325,000

Breen Towers, #8HJ
$1,975,000

-17.7% | -$601,000

The Briarcliffe, #8C
$2,799,000

-10.6% | -$355,000

329 West 71st Street, #3
$2,995,000

-12.8% | -$500,000

Olympic Tower, #30F
$3,400,000

-11.2% | -$546,000

The Stanwick, #10
$4,349,000

-7.2% | -$500,000

The Rushmore, #PH1A
$6,495,000

-17.9% | -$2,500,000

The Parkside, #11AB
$11,495,000

-17.7% | -$3,001,000

Olympic Tower, #A3738
$13,999,000

This is your member's center

In this article:

The past, present, and future of Olympic Tower, trend-setting Midtown condo skyscraper

-14.3% | -$551,000 Olympic Tower, #36H$3,299,000

Select which properties are of interest to you:

-9.3% | -$51,000 142 East 49th Street, #7B$499,000

-12.8% | -$95,000 The Lumiere, #2I$645,000

-12.1% | -$100,000 Gramercy Towers, #5H$725,000

-5.6% | -$50,000 Smithsonian Place, #508$849,000

-9.1% | $100,000 Fabric Astoria, #306$995,000

-4.4% | -$51,000 Gracie Green, #3C$1,099,000

-7.3% | -$110,000 The Peter Stuyvesant, #AABB$1,390,000

-11.8% | -$200,000 The Vantage, #22A$1,495,000

-6% | -$105,000 NINE52, #323$1,645,000

-14.1% | -$325,000 Breen Towers, #8HJ$1,975,000

-17.7% | -$601,000 The Briarcliffe, #8C$2,799,000

-10.6% | -$355,000 329 West 71st Street, #3$2,995,000

-12.8% | -$500,000 Olympic Tower, #30F$3,400,000

-11.2% | -$546,000 The Stanwick, #10$4,349,000

-7.2% | -$500,000 The Rushmore, #PH1A$6,495,000

-17.9% | -$2,500,000 The Parkside, #11AB$11,495,000

-17.7% | -$3,001,000 Olympic Tower, #A3738$13,999,000

Select which properties are of interest to you:

Listings in this article

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-14.3% | -$551,000

Olympic Tower, #36H
$3,299,000

-9.3% | -$51,000

142 East 49th Street, #7B
$499,000

-12.8% | -$95,000

The Lumiere, #2I
$645,000

-12.1% | -$100,000

Gramercy Towers, #5H
$725,000

-5.6% | -$50,000

Smithsonian Place, #508
$849,000

-9.1% | $100,000

Fabric Astoria, #306
$995,000

-4.4% | -$51,000

Gracie Green, #3C
$1,099,000

-7.3% | -$110,000

The Peter Stuyvesant, #AABB
$1,390,000

-11.8% | -$200,000

The Vantage, #22A
$1,495,000

-6% | -$105,000

NINE52, #323
$1,645,000

-14.1% | -$325,000

Breen Towers, #8HJ
$1,975,000

-17.7% | -$601,000

The Briarcliffe, #8C
$2,799,000

-10.6% | -$355,000

329 West 71st Street, #3
$2,995,000

-12.8% | -$500,000

Olympic Tower, #30F
$3,400,000

-11.2% | -$546,000

The Stanwick, #10
$4,349,000

-7.2% | -$500,000

The Rushmore, #PH1A
$6,495,000

-17.9% | -$2,500,000

The Parkside, #11AB
$11,495,000

-17.7% | -$3,001,000

Olympic Tower, #A3738
$13,999,000