Selling at a Loss: Underwater listings include Metal Shutter Houses' penthouse designed by Shigeru Ban

By CityRealty Staff | From Great Listings Friday, March 12, 2021

Metal Shutter Houses, #PH

Manhattan real estate is a well-known as a safe investment. Even in this deep buyer's market and the unprecedented situation surrounding it, approximately 3/4 of apartments sold between 2014 and 2020 are asking an average of 18% more above their original purchase price (figures per CityRealty data and current listings). At the same time, a quarter of the returning listings that sold after 2014 are available for less than the prior sale.

Sellers have various reasons for wanting to offload their apartments quickly, even if that means taking a loss on the sale. Some may have lost or struggled with their businesses in the economic fallout. Some may be facing increased carrying costs (such as in land-lease buildings) or might have found that renting an apartment out was not as profitable as they had hoped, but they might be eligible for more favorable tax treatment. And still others might wish to decamp to another locale immediately (think Donald Trump Jr. moving to Florida or his detractors moving out of his branded buildings).

It must be noted that selling in a down market presents incredible opportunities for deal searchers. The market is beginning to find its footing with buyers taking advantage of lower price points and purchasing faster than they were during this time period in 2019. When the pandemic fades and some semblance of normalcy returns, these buyers may very well reap tremendous rewards on their investments. In the meantime, see a selection of apartments where the owner is poised to sell at a substantial loss.

-25% off from 2016 Closing Price of $795,000

43 East 10th Street, #3C – Greenwich Village

$599,000 (-19%) | Cooperative | Studio, 1 Bath

From the Listing: This dramatic oversized studio which features ~13-foot ceilings, exposed brick, and a mezzanine lofted bedroom (accessible via interior staircase), is located on one of Greenwich Village's most coveted blocks. Huge windows showcase warm Southern light and charming tree-lined street views. The unit includes hardwood floors throughout, a generous kitchen with stone countertops and stainless-steel appliances, tiled bathroom, and three large closets. See floor plan and full details here.

-25% off from 2010 Closing Price of $1,300,000

The Osborne, #11BDE – Midtown West

$975,000 (-15%) | Cooperative | 2 Bedrooms, 2 Baths

From the Listing: The only Central Park view apartment in the legendary landmarked Osborne is now available for sale! With two corners and north, east and west exposures, large sash windows provide light, a Central Park view and open city views for the two bedrooms and two baths, living room and kitchen. The high ceilings can be exposed to show the unique vaulted brick ceilings. Restore this classic and you will love living in the Osborne, one of the great pre-war cooperatives on West 57th Street. See floor plan and full details here.

-25% off from 2014 Closing Price of $5,214,800

737 Park Avenue, #10F – Park/Fifth Ave. to 79th St.

$3,895,000 | Condominium | 2 Bedrooms, 2.5 Baths

From the Listing: Private Terrace and Views, 2 Bedrooms, 2.5 Baths on Park Ave condo, you just can't beat this location. In perfect condition with abundant East and South light, this corner two-bedroom is everything you want in a full-time or part-time Manhattan residence in a superb building with first-rate amenities. At the corner of Park Avenue and 71 Street, you are truly at the in the heart of the Upper East Side. See floor plan and full details here.

-25% off from 2016 Closing Price of $3,950,000

10 East 70th Street, #10D – Park/Fifth Ave. to 79th St.

$2,950,000 | Cooperative | 2 Bedrooms, 3 Baths

All images of 10 East 70th Street via The Corcoran Group

From the Listing: Perfectly situated mid-block on East 70th Street just off Fifth Avenue, this distinguished and elegantly proportioned two bedroom and two and a half bathroom home offers captivating views over The Frick Collection to Central Park. The entire apartment has been impeccably renovated and is flooded with light through wall-to-wall windows - a quality shared by every room. A separate foyer opens to an expansive entry gallery from which all rooms are approached. The particularly spacious 26' x 15' living room is punctuated by handsome custom bookshelves and includes a marvelous sweep of views to Central Park. See floor plan and full details here.

-26% off from 2011 Closing Price of $10,100,000

1 East 66th Street, #16B – Park/Fifth Ave. to 79th St.

$7,500,000 | Cooperative | 2 Bedrooms, 2.5 Baths

From the Listing: Perched above Central Park, with views over the trees to Central Park West and Central Park South, this residence has been renovated throughout with attention to every detail. The 30-foot terrace, which runs the length of the living room facing the Park, features a low iron glass railing, a full irrigation system and a motorized awning. See floor plan and full details here.

-26% off from 2010 Closing Price of $1,625,000

Ritz Tower, #18D – Midtown East

$1,199,000 (-20%) | Cooperative | 2 Bedrooms, 2 Baths | 1,400 ft²

From the Listing: THE MOST INCREDIBLE DEAL ON PARK AVENUE! Address of distinction! Residence 18D is a grand 2 bedroom, 2 bathroom Park Avenue apartment located at The Ritz Tower, the apogee of urban living. The unit boasts stunning city views, gorgeous light from open southern and eastern exposures, oak herringbone floors, custom millwork, new sound-proof picture windows, in-unit washer/dryer and abundant closets. See floor plan and full details here.

-26% off from 2019 Closing Price of $1,960,000

Jardim, #3B – Chelsea

$1,459,000 | Condominium | 1 Bedroom, 1 Bath | 758 ft²

From the Listing: Meticulously conceived by award-winning Brazilian architect Isay Weinfeld, this 1-bedroom, 1-bathroom residence comprising of 758 interior and 20 exterior square feet highlights the hallmarks of Weinfeld's inimitable design. Ideal proportions and warm materials imbue this residence with Isay Weinfeld's signature modernist elegance. An open eat-in kitchen that offers Gaggenau appliances and sleek stainless steel countertops and backsplash leads to the living/dining room, where a sliding glass pocket window opens to reveal the outdoor space. See floor plan and full details here.

-26% off from 2017 Closing Price of $2,011,044

The Beekman Residences, #24B – Financial District

$1,495,000 (-25%) | Condominium | 1 Bedroom, 1 Bath | 855 ft²

All images of The Beekman Residences with Sotheby's International Realty

From the Listing: Enjoy the convenience of downtown's most dynamic new neighborhood and the magnificence of The Beekman Hotel and residences. A gallery entry leads to the open north/east corner living room, dining area and designer kitchen. Floor-to-ceiling windows provide scintillating light, breathtaking sunsets and night-time twinkling views. The chef's kitchen boasts Miele appliances, wine chiller, stone counters and cabinetry galore. The king-sized bedroom has custom closets and striking City Hall views. The plush limestone bath includes a large soaking tub, sumptuous glass enclosed shower, hand held sprayers and custom vanity. Additional customized closet space, washer/dryer and motorized shades throughout make this luxury one-bedroom a “bring your suitcase” and move right in experience. See floor plan and full details here.

-26% off from 2019 Closing Price of $2,350,000

4 West 21st Street, #14B – Flatiron/Union Square

$1,750,000 (-5%) | Cooperative | 3 Bedrooms, 3 Baths | 1,674 ft²

All images of 4 West 21st Street via Douglas Elliman

From the Listing: Mint condition three bedroom, three bathroom with washer/dryer, central-air conditioning, full-time doorman and amazing location in the heart of Flatiron! Enter into a graceful gallery and immediately take in the huge living room with high ceilings, floor to ceiling windows and amazing built-ins! Beautiful wide-plank hardwood floors, central air-conditioning and modern finishes are just some of the luxury features of this home. An enormous kitchen with stainless steel integrated appliances, endless custom cabinets, stone counters and a large center island are the perfect setting for your culinary skills. See floor plan and full details here.

-26% off from 2014 Closing Price of $1,792,120

The Leonard, #7C – Tribeca

$1,325,000 | Condominium | 1 Bedroom, 1.5 Baths | 951 ft²

All images of The Leonard via Compass

From the Listing: Welcome home to this generously sized loft-like one bedroom one and a half bathroom with an additional home office/den perfectly positioned in the heart of TriBeCa. This luxurious south facing apartment with 10.5 ft. ceilings and European oak flooring is pin-drop quiet overlooking Leonard Street. The sleek, open Biefbi custom Italian kitchen with abundant counter space is fit for a chef featuring a Liebherr refrigerator, Grohe fixtures, vented Miele stove and Miele dishwasher. The bedroom can easily fit a king bed and contains two closets, one being a large walk-in. The elegant ensuite bathroom is outfitted with limestone tiles, a vanity sink, backlit mirrors and has tons of storage. A storage unit is included in the sale. See floor plan and full details here.

-28% off from 2018 Closing Price of $2,725,000

Ritz Tower, #27A – Midtown East

$1,950,000 (-35%) | Cooperative | 2 Bedrooms, 2 Baths

All images of Ritz Tower via Douglas Elliman

From the Listing: This superb, recently renovated, two bedroom/two bath apartment on Park Avenue and 57th Street in the tower of the Legendary Ritz Tower, is now converted into a remarkably elegant one bedroom unit, with impressive entertaining space incorporating a formal home office (formerly second bedroom and bath). The sumptuous master bedroom has an en suite bathroom, large dressing room, and an enormous amount of closet space with large windows. The apartment has magnificent panoramic, open, city views to the North, South and West. White marble floors through-out, replaced single pane windows, discreet ceiling lighting, central air conditioning, ample built-in closets, enlarged stainless steel kitchen, updated bathrooms and motorized window shades all reflect a sophisticated aesthetic and contribute to this beautiful gem. See floor plan and full details here.

-28% off from 2015 Closing Price of $7,200,000

Chelsea Stratus, #PH1C – Chelsea

$5,200,000 (25%) | Condominium | 3 Bedrooms, 2.5 Baths | 2,320 ft²

All images of Chelsea Stratus via Douglas Elliman

From the Listing: This highly coveted 3 bedroom and 2.5 bath penthouse has two private terraces, a fireplace, and soaring 11' ceilings. The impressive entry gallery is an art lover's delight. The enormous loft like great room faces south and east with floor to ceiling windows and is perfect for entertaining. The windowed eat-in Kitchen has a 36' Sub-Zero refrigerator, Wolf cook top and oven, a Viking microwave, and a Fisher & Pykel double dishwasher and wine fridge. The primary bedroom faces north and east with a private terrace with Empire State Building views, floor-to-ceiling window with dramatic Clock Tower views, and an en-suite spa-like bathroom. See floor plan and full details here.

-29% off from 2014 Closing Price of $25,529,393

737 Park Avenue, #19A – Park/Fifth Ave. to 79th St.

$18,000,000 | Condominium | 5 Bedrooms, 6+ Baths | 5,479 ft²

From the Listing: Stylishly renovated and sprawling, this 4-5 bedroom condominium apartment boasts open and sunny exposures and enjoys glimpses of Central Park towards the West as well as glorious vistas of the Southern and Northern city skyline. The sun truly pours into the high floor 5,479 square foot residence at all times of the day.

The 19th-floor simplex is accessed via a private elevator landing which leads to a large Gallery complete with a coat closet and powder room. The apartment features a corner Great Room that functions as the formal Living Room and Dining Room plus there is a large Den and a formal Library overlooking Park Avenue. A very large Eat-in Kitchen complete with state of the art appliances features a cozy Breakfast Nook. A fully equipped Laundry Area is located off the Kitchen as well. See floor plan and full details here.

-30% off from 2003 Closing Price of $850,000

Tower East, #11B – Lenox Hill

$595,000 | Cooperative | 2 Bedrooms, 2 Baths

From the Listing: Enjoy open city views from this move-in ready, sunny, spacious and corner, 2-bedroom, 2-bathroom with a wonderful split layoutApartment 11B features a grand 25-foot-wide living room including modern built-ins and oversized windows. This east-facing apartment has a large dining area that makes it perfect for enterta ining guests. See floor plan and full details here.

-31% off from 2011 Closing Price of $1,1455,312

Metal Shutter Houses, #PH – Chelsea

$7,950,000 (-11%) | Condominium | 4 Bedrooms, 4 Baths | 3,319 ft²

From the Listing: Located on a prime West Chelsea gallery district block, this meticulous 4 bedroom/4 bath duplex penthouse at the Metal Shutter Houses designed by Shigeru Ban spans 3,319sf with almost 2,000sf of landscaped terraces with views to the Empire State Building. See floor plan and full details here.

-31% off from 2012 Closing Price of $13000000

One Beacon Court, #48B – Midtown East

$9,000,000 (-5%) | Condominium | 3 Bedrooms, 3.5 Baths | 2,669 ft²

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From the Listing: Make your home high above the city skyline in this breathtaking three-bedroom, three-and-a-half-bathroom residence beautifully renovated by AD100 interior designer Suzanne Lovell. . See floor plan and full details here.

-32% off from 2008 Closing Price of $1,583,378

J.W. Marriott Essex House, #1817 – Midtown West

$1,080,000 | Condominium | 1 Bedroom, 1.5 Baths | 830 ft²

From the Listing: With its over 10-foot, coffered and beamed ceilings, crown molding and blond wood, wide-plank, herringbone flooring, Residence 1817 echoes the fine details of Essex House, originally completed in 1931 in the Art Deco style. This spacious one-bedroom, 1.5-bath home offers both space for two separate home offices by day and comfortable and quiet areas in which to rest and to relax by night. Tall, northwest-facing windows overlook a classic New York City view with architectural styles both classic and contemporary. See floor plan and full details here.

-32% off from 2013 Closing Price of $4,429,388

Azure, #28CD – Yorkville

$2,995,000 (-14%) | Cooperative | 4 Bedrooms, 4.5 Baths | 2,952 ft²

From the Listing: Welcome to apartment 28CD boasting nearly 3,000 square-feet, four-bedrooms, four full en-suite bathrooms and one half-bath, an oversized chef's kitchen for entertaining, flanked by two large great rooms, a private balcony, and floor-to-ceiling windows. Experience three open skyline exposures with full southern views of NYC's most iconic buildings as well as eastern views of the river and western views toward Central Park. See floor plan and full details here.

-32% off from 2017 Closing Price of $5,716,145

965 Fifth Avenue, #8B – Park/Fifth Ave. to 79th St.

$3,900,000 | Cooperative | 2 Bedrooms, 3 Baths

All images of 965 Fifth Avenue via Douglas Elliman

From the Listing: A gracious gallery welcomes you to this six room, prewar residence in an Emery Roth-designed cooperative. Enjoy sweeping views of Central Park from the grand living room and master bedroom. The master suite is completed by two large closets and an en suite bathroom. The second bedroom has ample closet space and an en suite bath. From the opposite end of the gallery, enter the formal dining room, which is perfect for entertaining. This elegant layout is completed by a well-proportioned kitchen, large staff room, and full staff bath. The apartment's classic details include beautiful beamed ceilings and herringbone hardwood floors. See full details here.

-33% off from 2006 Closing Price of $635,000

The Excelsior, #30D – Midtown East

$425,000 | Cooperative | 2 Bedrooms, 1 Bath | 1,100 ft²

From the Listing: This incredible home boasts an expansive layout with a large terrace, a gracious formal foyer with 3 entryway closets + a walk-in closet, oversized windows that flood the space with sunlight and city views, and a grand living room large enough to create a separate dining area. See floor plan and full details here.

-35% off from 2015 Closing Price of $2,291,063

50 United Nations Plaza, #7D – Turtle Bay/United Nations

$1,495,000 (-15%) | Condominium | 1 Bedroom, 1.5 Baths | 1,147 ft²

All images of 50 United Nations Plaza via Brown Harris Stevens

From the Listing: This spacious and flowing 1 Bedroom, 1 Bathroom plus Powder Room condominium residence is now being offered for sale. Living and Dining Room with floor to ceiling windows allow sunshine and light all day. An exclusive valet parking spot is also available for purchase with this home. The bath has a Poliform teak vanity, Kohler ironworks soaking tub, Duravit water closet and bidet, radiant heat floor and Dornbracht fittings. The kitchen is outfitted in Poliform white lacquer cabinetry, honed absolute black granite countertops and Miele, Sub-Zero and Bosch appliances. The Noir du Roi marble floors provide the back drop for the dramatic Powder Room. Miele washer and dryer is included. A Sponsor funded carrying cost subsidy is in place until June 2022 resulting in discounted common charges for each unit. See floor plan and full details here.

-35% off from 2019 Closing Price of $1,825,000

35 Sutton Place, #15E – Beekman/Sutton Place

$1,195,000 | Cooperative | 1 Bedroom, 2 Baths | 1,450 ft²

All images of 35 Sutton Place via Brown Harris Stevens

From the Listing: Enter into a wide open floorplan with large living room, dining room, and sun room with bright views facing west including the magnificent 59th Street Bridge. A large walk-through kitchen has Bosch dishwasher, Sub-Zero refrigerator and freezer, and six-burner stove making it a chefs delight. A home office offers a spacious extra room which could be used for work, exercise, or even a small sleeping area. The primary suite has bright views facing west where sunsets will delight the next owner, and views of the 59th Street Bridge are also seen from this bedroom. See floor plan and full details here.

-37% off from 2013 Closing Price of $750,000

The Morad Beekman, #7D – Beekman/Sutton Place

$475,000 (-15%) | Cooperative | 2 Bedrooms, 2 Baths

From the Listing: Streaming sun and southern city views greet you upon entering this spacious, move-in condition two bedrooms, two bathroom home. The customized layout provides numerous decorating opportunities. Upon entry you are greeted with beautiful wood-planked floors. The living room is large , newly painted with crown moldings and the dinning room can easily be converted to a den. See floor plan and full details here.

-37% off from 2012 Closing Price of $1,578,287

W Downtown Hotel & Residences, #50G – Financial District

$995,000 (-34%) | Condominium | 1 Bedroom, 1 Bath | 708 ft²

From the Listing: Perched high in the sky, Apartment 50G offers dramatic exposures, design-forward finishes and luxury hotel-style amenities. This competitively priced, corner one bedroom boasts breathtaking views of the Hudson River, Downtown Manhattan, and the Statue of Liberty from every room. . See floor plan and full details here.

-39% off from 2015 Closing Price of $2,295,000

Southgate, #9GJ – Beekman/Sutton Place

$1,395,000 (-30%) | Cooperative | 3 Bedrooms, 3 Baths

All images of Southgate via Douglas Elliman

From the Listing: This beautiful residence in an Emery Roth-designed building near the East River is perched on a high floor with a lengthy terrace facing south and east with bright open views! This comfortable, quiet and airy home has a large windowed kitchen with state of the art appliances including a five-burner Fisher Paykel range and dishwasher and lengthy Burlington Elterwater stone counters. The serene and spacious primary bedroom has a gorgeous marble windowed bathroom with a large shower stall and Dornbracht fixtures. See floor plan and full details here.

-42% off from 2014 Closing Price of $10,302,750

Trump Park Avenue, #3B – Park/Fifth Ave. to 79th St.

$5,995,000 (-25%) | Condominium | 4 Bedrooms, 6.5 Baths | 4555 ft²

All images of Trump Park Avenue via Compass

From the Listing: The epitome of elegance, this stylish 4-bedroom, 6.5-bath condo with a huge terrace in the sought-after 502 Avenue was designed for luxurious comfort. With 4,555 square feet of meticulously-appointed living space and a wonderful 1,462-square-foot private terrace, you, your family and guests will enjoy the finest New York has to offer whether you're in or outdoors. The uniquely laid out floor plan seamlessly accommodates entertaining, while affording privacy for the sleeping quarters. The welcoming entry gallery that greets you leads to another wide open gallery area that stretches from the living room and library on one side, to the formal dining room/den on the other creating an open, airy flow across the home for natural light and hosting gatherings. See floor plan and full details here.

-41% off from 2014 Closing Price of $1186261

Belmont 79, #3C – Lenox Hill

$695,000 | Cooperative | 2 Bedrooms, 2 Baths

From the Listing: BACK ON MARKET. ALL CASH BUYER ONLY. Spacious and cheerful, this 2-bedroom, 2-bathroom home situated in the heart of the Upper East Side is an exceptional value. A gracious entry foyer leads to a living/dining room with a custom bookcase and tree-top views on to 79th Street. The kitchen has been thoughtfully designed with plenty of counter and storage space, as well as professional-grade stainless steel appliances. See floor plan and full details here.

-41% off from 2008 Closing Price of $1,940,000

205 East 63rd Street, #11GH – Lenox Hill

$1,150,000 (-12%) | Cooperative | 3 Bedrooms, 3 Baths

From the Listing: Large 3 bed/3 bath on the corner of 63rd st + 3rd ave. Refinished hardwood floors. Large windows + crown moldings throughout, Windowed kitchen w/ granite countertops, Viking & Bosch stainless steel appliances, dishwasher and wine fridge. Master bedroom has separate sitting area, lots of storage and its own bathroom. Washer/Dryer in unit. See floor plan and full details here.

-44% off from 2014 Closing Price of $1,350,000

12 Beekman Place, #9F – Beekman/Sutton Place

$760,000 | Cooperative | 1 Bedroom, 1 Bath | 850 ft²

All images of 12 Beekman Place via Douglas Elliman

From the Listing: This light-filled one bedroom home measures over 900 square feet and features the original, and still beautiful, parquet floors. There is a windowed kitchen with lots of counter and cabinet space. The living room is 30 feet long with room for separate media and dining areas. In addition, the former dining L is ideal for a home office. The bathroom is off a bedroom hall, allowing access for guests, when entertaining, while keeping your bedroom private. There are fantastic closets including a dressing room size closet in the bedroom. The apartment features a touch of prewar elegance with postwar architecture including expansive windows with views to the beautiful townhouses and treelined streets of Beekman Place. See floor plan and full details here.

-44% off from 2014 Closing Price of $11,700,000

The Residences at The Ritz-Carlton New York Battery Park, #PH2A – Battery Park City

$6,495,000 (-44%) | Condominium | 3 Bedrooms, 5 Baths | 3,513 ft²

All images of The Residences at The Ritz-Carlton New York Battery Park via Compass

From the Listing: Iconic city and harbor views fill every room of this exquisitely updated convertible four-bedroom, five-bathroom duplex with private outdoor space in the illustrious Residences at The Ritz-Carlton Battery Park. Beautifully reimagined to maximize sunlight and flow, this elegant 3,513-square-foot home invites you to discover picture-postcard views of Hudson River, Harbor and One World Trade Center from the sprawling corner living room. Floor-to-ceiling walls of windows wrap the high-floor haven from west to north while herringbone hardwood floors and a fireplace add warmth. French doors reveal a breathtaking study that opens to the massive 47-foot-long terrace to create the perfect indoor-outdoor work-from-home space. See floor plan and full details here.

-47% off from 2009 Closing Price of $16,900,000

The Majestic, #28EF – Central Park West

$8,900,000 (-25%) | Cooperative | 2 Bedrooms, 4 Baths | 3,370 ft²

From the Listing: Seize this rare opportunity to own a full-floor tower residence at The Majestic on Central Park West and 72nd Street. Occupying the entire 28th floor, this elegant home affords spectacular 360-degree views overlooking Central Park Lake and Strawberry Fields, sweeping south to the towers of Midtown and Central Park South and extending north past the George Washington Bridge. A seamless combination of two apartments, the layout flows effortlessly from one room to the next. See floor plan and full details here.

-55% off from 2006 Closing Price of $1,900,000

The Excelsior, #43G – Midtown East

$850,000 (-42%) | Cooperative | 4 Bedrooms, 4.5 Baths | 3,300 ft²

From the Listing: ENCHANTING! To witness 43G is to see an exquisitely designed apartment of approximately 3300 square feet. The open design and gorgeous white marble floors, enhance the magnificent views of New York City. From its huge soundproof windows and Southern Terrace, one can see South past the World Trade Center and the tip of the City; East over the East River, North West over the Park, and the George Washington Bridge. It contains 3 Bedrooms plus a Maid's room or office, 4 large Bathrooms and a beautiful Powder Room. See floor plan and full details here.