Price Cuts: 432 Park pad slashed by $2.6M; 'Castle on Convent' reduced by $200,000

By CityRealty Staff | From Future New York Thursday, May 1, 2025

432 Park Avenue, #37A (Corcoran Group)

As CityRealty data shows, the sales pace in New York City has held relatively steady year-over-year. But throughout the United States, a report by the National Association of Realtors found that sales of previously owned homes in March 2025 fell by 5.9% month over month, making for the slowest March sales pace since 2009 (which would have been in the wake of the Great Recession).

CNBC cites high mortgage rates and broader economic concerns as factors for sluggish selling pace and high inventory, and predicts that between concerns about inflation, jobs, and higher tariff-induced prices across the board, the numbers are not likely to improve any time soon. It is against this backdrop that over 350 condos, co-ops, condops, and townhouses experienced price reductions from April 22-28, 2025, a noticeable week-over-week spike.

These included three units at 277 Fifth Avenue, a Rafael Vinoly-designed condominium that was instrumental in establishing NoMad as a residential neighborhood. At the time of its completion, 277 Fifth Avenue dethroned Trump Tower as the tallest residential building on Fifth Avenue. However, it would not hold onto that position for long: 520 Fifth Avenue now holds that honor. And a few blocks away, the forthcoming 262 Fifth Avenue threatens to steal its neighbor's thunder, not to mention some of its impressive south-facing views.

-0.1% | -$4,999

277 Fifth Avenue, #49B
$4,990,000

Flatiron/Union Square | Condominium | 2 Bedrooms, 2 Baths | 1,557 ft²

277 Fifth Avenue, #49B (Douglas Elliman Real Estate)

From the Listing: With exposures to the east and south, Residence 49B is truly NoMad living at its finest. This two-bedroom home features 5 1/2" wide American White Oak flooring, 10' ceilings, and floor-to-ceiling windows that frame iconic New York views. The open chef's kitchen boasts a full suite of stainless-steel finished Miele appliances including a retractable ventilation hood and wine cooler. See floor plan and full details here.

To the northeast, 432 Park Avenue makes a commanding statement in the skyline with its towering height and crisp, minimalist-style facade. But in April 2025, the building's condo board sued developers Harry Macklowe and CIM Group, alleging that they hid widespread cracks in the building's signature facade from buyers and city inspectors. The board says the cracks have led to flooding and corrosion throughout the building.

A short time later, the half-floor four-bedroom Residence #37A had its price reduced. Initially listed for $25,000,000 in November 2021, the most recent reduction brings it down to $16,900,000. Public records show that the seller, identified only through an LLC, would roughly break even, having bought it from the sponsor for $16,489,758 in May 2017, if it goes for this price.

219 East 49th Street, Turtle Bay townhouse

219 East 49th Street, aka Morris B. Sanders Studio and Apartment (Compass)

But for all the towering new construction transforming the iconic Manhattan skyline, New York City has no shortage of historic, eye-catching townhouses. A case in point may be found at 219 East 49th Street, a townhouse located up the street from Turtle Bay Gardens. In the mid-1930s, architect Morris Sanders and his wife, Barbara Castleton Davis, originally planned to remodel an old brownstone previously on the site, but ultimately replaced it with a six-story structure distinguished by its blue brick facade and glass block windows. The white marble-clad ground floor was used as Mr. Sanders' studio; he and his wife lived in the upper-level triplex and rented out a lower-level duplex.

The Sanders family lived in the triplex until Mr. Sanders' death in 1948, and the house sold a year later. Since then, the house has only changed hands twice and was designated a New York City Landmark in 2008. It was listed for $5,300,000 in March 2025, but was reduced to $4,995,000.

Further uptown, 336 Convent Avenue is described as a "castle on Convent," and it is easy to see why with its medieval-style facade and corner tower where Rapunzel might not feel out of place. Located a few blocks from the City College of New York, 336 Convent Avenue houses seven market-rate units and is being marketed as an investment opportunity. It was listed for $3,500,000 in October 2023, but a price reduction brings it down to $3,300,000.

These units are among a selection of notable listings that may be seen below, as well as a full list of last week's price cuts. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.

-13.3% | -$2,600,000

432 Park Avenue, #37A
$16,900,000

Midtown East | Condominium | 4 Bedrooms, 4.5 Baths | 4,003 ft²

432 Park Avenue, #37A (Corcoran Group)

From the Listing: Redefining the Manhattan skyline and 1,396 feet above Park Avenue, your new luxury home is situated in a renowned premier location with easy access to the best of Manhattan living. Interior features include a private elevator landing, solid oak flooring, soaring 12'6" ceilings, and stunning 10' x10' windows. An elegant gallery opens to a gracious dining room and corner living room that is encompassed by the iconic large windows that offer northern and eastern exposures with open city views to Central Park. See floor plan and full details here.

-3.3% | -$500,000

One Brooklyn Bridge Park, #1216
$14,495,000

Brooklyn Heights | Condominium | 6+ Bedrooms, 4.5 Baths | 8,500 ft²

One Brooklyn Bridge Park, #1216 (Sothebys International Realty)

From the Listing: Masterfully designed with an exquisite blend of luxury and refinement, this exceptional duplex penthouse offers an unparalleled luxury living experience. For those seeking picturesque views of New York Harbor, the Brooklyn Bridge, the Statue of Liberty, and the Lower Manhattan skyline— no need to look further! This exceptional home redefines indoor-outdoor living, offering magnificent views from every window and an array of thoughtfully designed features, making it the ultimate dream home. A large deeded storage unit is located on the same floor. See floor plan and full details here.

-20% | -$1,500,000

The Briarcliffe, #6B
$5,999,999

Midtown West | Condominium | 4 Bedrooms, 4.5 Baths | 2,800 ft²

The Briarcliffe, #6B (R New York)

From the Listing: Be the first to live in this stunning, turn-key residence directly across from the prestigious Carnegie Hall on Billionaire’s Row. Enter through a private keyed elevator landing, shared with only one other residence in this exquisite doorman building. A 44-foot-long space featuring a mesmerizing eco-friendly fireplace, ensuring zero emissions and no fire risk.

Cellar-level storage unit included. Gift with purchase: one-year membership to Spa Nalai at the prestigious Park Hyatt next door. See floor plan and full details here.

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-10.6% | -$554,999

The Chelsea Mercantile, #10X
$4,695,000

Chelsea | Condominium | 3 Bedrooms, 3 Baths | 2,386 ft²

The Chelsea Mercantile, #10X (Compass)

From the Listing: Beautifully renovated three-bed plus bonus room in the Chelsea Mercantile offers distinct separation between private and communal areas. The loft-like corner living/dining room features four oversized windows, open southern and western exposures, and views of the landmarked Chelsea Hotel. The open kitchen offers abundant storage between a walk-in pantry and white industrial glass cabinets, and premium appliances include a wine cooler. See floor plan and full details here.

-12.2% | -$655,000

Ariel West, #27B
$4,695,000

Riverside Dr./West End Ave. | Condominium | 4 Bedrooms, 3.5 Baths | 2,930 ft²

Ariel West, #27B (Brown Harris Stevens Residential Sales LLC)

From the Listing: Residence #27B features an impressive great room with dual corner exposures for sweeping panoramic views from the eastern city skyline clear across to the Hudson River. Expansive southern views welcome you home through floor-to-ceiling windows as you enter the foyer off the semi-private landing, shared with just one other apartment on the floor. Spanning more than 53 feet from east to west, the open living and dining room allows for endless opportunities to entertain as well as ample space to design and decorate. See floor plan and full details here.

-17.2% | -$800,000

133 Pacific Street, #2
$3,850,000

Cobble Hill | Townhouse | 4 Bedrooms, 2.5 Baths

133 Pacific Street, #2 (Douglas Elliman Real Estate)

From the Listing: Nestled above the tree-lined streets of Cobble Hill, this luminous triplex in a grand 25' wide Greek Revival townhouse offers a serene setting for the best of Brooklyn living. Enter the triple-height atrium, where a skylight bathes the living spaces in a soft, natural glow. Custom oak floors with contrasting hardwood inlays add warmth to the expansive living room, anchored by a wood-burning fireplace promising cozy evenings. A spacious dining room, perfect for family meals or lively dinner parties, opens to a bespoke cook's kitchen. See floor plan and full details here.

-5.7% | -$199,999

336 Convent Avenue, #MLTFMLY
$3,300,000

Hamilton Heights | Rental | 6+ Bedrooms, 6+ Baths | 4,952 ft²

336 Convent Avenue, #MLTFMLY (Compass)

From the Listing: Located on the picturesque tree-lined corner of Convent Avenue and West 144th Street this Queen Anne showpiece with its medieval facade dominated by a corner tower with a faceted conical cap is a visual delight. Currently, the brownstone consists of 7 free-market apartments which range in size from studios to two (2) bedroom apartments all with their own distinctive character. See floor plan and full details here.

-11.8% | -$399,999

336 West End Avenue, #7CD
$2,995,000

Broadway Corridor | Cooperative | 4 Bedrooms, 3 Baths

336 West End Avenue, #7CD (Compass)

From the Listing: This stunning home has been artfully reimagined by Mark Stumer of Mojo Stumer Associates to create an expansive and seamless layout—ideal for sophisticated entertaining and effortless everyday living. A gracious entry foyer, adorned with striking herringbone floors, leads to an expansive living room featuring both a cozy sunken den and formal living room. Opposite the living room is a versatile dining room perfect for dinner parties or casual meals at home. See floor plan and full details here.

-13.2% | -$379,999

325 West 52nd Street, #PHG
$2,495,000

Midtown West | Cooperative | 4 Bedrooms, 4 Baths | 2,700 ft²

325 West 52nd Street, #PHG (Douglas Elliman Real Estate)

From the Listing: Every detail of this penthouse has been meticulously crafted-from the expansive private roof deck to the spacious, light-filled interiors-creating an urban retreat that perfectly balances sophistication and comfort. Upon entering, you're welcomed by a grand south-facing living room, where high ceilings and abundant natural light enhance the airy ambiance. At the heart of the residence lies a renovated, open-concept kitchen designed for both culinary creativity and seamless entertaining. See floor plan and full details here.

-1.1% | -$24,999

Maverick, #12A
$2,350,000

Chelsea | Condominium | 2 Bedrooms, 2 Baths | 1,115 ft²

Maverick, #12A (Douglas Elliman Real Estate)

From the Listing: Presenting Residence #12A, a split two-bedroom, two-bathroom residence featuring northeastern exposures with oversized tilt-and-turn windows, and seven-inch-wide white European oak flooring throughout. The open kitchen boasts a fully integrated Miele appliance package including a dishwasher and wine fridge. The primary bedroom showcases two exceptionally large bedroom closets as you make your way to the en-suite bathroom. Sponsor to pay two years of common charges and taxes on newly signed contracts for a limited time only. See floor plan and full details here.

-28.2% | -$774,999

1 Fifth Avenue, #19A
$1,975,000

Greenwich Village | Cooperative | 2 Bedrooms, 2 Baths

1 Fifth Avenue, #19A (Ann Weintraub Ltd)

From the Listing: Way up high, in the fabled tower of One Fifth Avenue, sits a totally renovated two-bedroom apartment. All day long, glorious sunshine flows in and enhances the eastern, landmark views from the all glass, oversized, tilt/ turn picture windows. Designer, mahogany built-ins frame the rooms providing a huge amount of storage as well as a beautiful, warm esthetic. The open, designer kitchen has top-of-the-line appliances and also boasts an island with barstools for informal gatherings. Price negotiable! See floor plan and full details here.

-2.5% | -$45,000

Union BK, #5C
$1,750,000

Williamsburg | Condominium | 3 Bedrooms, 2 Baths | 1,216 ft²

Union BK, #5C (Douglas Elliman Real Estate)

From the Listing: Prime three-bedroom, two-bathroom home with excellent light and a large 59-square foot private balcony in the UnionBK Condominium, located in the center of Williamsburg. Finishes throughout the home include high, steel-decked ceilings, floor-to-ceiling windows, and rich oak flooring. The chef's kitchen features custom Italian cabinetry with lots of storage, black Caesarstone countertops, double refrigerator, dishwasher, and a true-vented stove with XO fan. 421a tax abatement in place. See floor plan and full details here.

-13.6% | -$244,999

The Sabrina, #12C
$1,550,000

Riverside Dr./West End Ave. | Condominium | 2 Bedrooms, 2 Baths | 1,281 ft²

The Sabrina, #12C (Brown Harris Stevens Residential Sales LLC)

From the Listing: Step into a grand open concept entrance foyer that leads both to an expansive living room and classic dining room. The designer renovated windowed kitchen is complete with an Italian 6-burner range and hood, Bosch dishwasher, 200-bottle Viking wine cooler, and sleek marble countertops. Custom cabinetry leads from the open kitchen into the dining room for seamless integration and incredible storage, creating an ideal layout for entertaining. See floor plan and full details here.

-11.8% | -$200,000

373 Bleecker Street, #PH5AD
$1,500,000

West Village | Cooperative | 2 Bedrooms, 1.5 Baths

373 Bleecker Street, #PH5AD (Douglas Elliman Real Estate)

From the Listing: Perched on the top floor of a well-maintained townhouse cooperative, this meticulously renovated penthouse is flooded with natural light and boasts tranquil tree-top views, creating a peaceful urban retreat. Upon entering, you'll be greeted by the spacious, west-facing living room, where two skylights and large windows bathe the space in afternoon and evening sunlight. Custom-built bookshelves frame the room, and the open-plan kitchen is a chef's dream. The co-op benefits from a percentage of rent generated by the retail space on the ground floor, helping to reduce monthly maintenance costs significantly. See floor plan and full details here.

-1.5% | -$20,999

NOVA, #PHB
$1,399,000

Long Island City | Condominium | 2 Bedrooms, 2 Baths | 868 ft²

NOVA, #PHB (Modern Spaces)

From the Listing: Boasting approximately 11-foot ceilings, this stunning penthouse features floor-to-ceiling windows, southeast exposure, and breathtaking open views, filling the space with natural light. Located on the same floor as the rooftop deck, this exclusive home is one of only two units on the floor, offering privacy and a boutique living experience. Sponsor will provide stylish, modern furniture to furnish 2-beds, valued at up to $18,000. See floor plan and full details here.

-9.1% | -$124,999

310 West 106th Street, #PH17B
$1,250,000

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

310 West 106th Street, #PH17B (Compass)

From the Listing: Perched atop a beautifully maintained pre-war cooperative building, this sophisticated home boasts a wraparound terrace with panoramic views of the Hudson River and Riverside Park. The spacious living area, warmed by a wood-burning fireplace, provides an inviting ambiance, perfect for relaxation and entertaining while allowing space for a bright home office. The living room is enhanced by a stunning atrium, flooding the space with natural light and offering open, unobstructed views for a seamless indoor-outdoor feel. See floor plan and full details here.

-15.4% | -$199,999

358 Tompkins Avenue, #1
$1,099,000

Bedford-Stuyvesant | Condominium | 3 Bedrooms, 1.5 Baths | 1,137 ft²

358 Tompkins Avenue, #1 (Corcoran Group)

From the Listing: The Garden Duplex's versatile layout effortlessly accommodates relaxation, dining, and entertaining, allowing for seamless transitions between everyday living and hosting with ease. At the heart of the home, the open kitchen is a masterclass in style and function. A private staircase gracefully ascend from the patio to your lush private garden, offering an enchanting setting for gatherings or quiet reflection. See floor plan and full details here.

-16.8% | -$200,999

333 East 53rd Street, #5KL
$999,000

Midtown East | Cooperative | 2 Bedrooms, 2 Baths

333 East 53rd Street, #5KL (Berkshire Hathaway HomeServices New York Properties)

From the Listing: Step into the classic combination apartment through a gracious foyer, leading into an oversized living room with a beamed ceiling and hardwood floors, facing south. The expansive, windowed kitchen features granite countertops, a Sub-Zero refrigerator, a Viking stove, and a Miele dishwasher, offering ample storage and space for multiple cooks. The primary bedroom, located off the foyer, includes an en-suite renovated bathroom with a large shower. See floor plan and full details here.

-10.7% | -$95,999

205 East 78th Street, #9F
$799,000

Lenox Hill | Cooperative | 1 Bedroom, 1 Bath

205 East 78th Street, #9F (Compass)

From the Listing: Residence #9F, a sunlit corner unit, has southern and western exposures, offering views of the tree-lined streets below. Exuding prewar sophistication, the apartment features a thoughtfully designed layout, a stunning wood-burning fireplace with a Victorian mantelpiece, high beamed ceilings, hardwood floors, and built-in shelving and storage. The windowed eat-in kitchen is well-appointed with high-end appliances, Caesarstone counters and subway tile backsplash along with ample storage solutions, including a pantry, broom closet, and wine storage.

Electricity included in maintenance. Motivated seller! See floor plan and full details here.

-6.5% | -$55,000

Arbor Eighteen, #501
$795,000

South Slope - Greenwood Heights | Condominium | 1 Bedroom, 1 Bath | 690 ft²

Arbor Eighteen, #501 (Compass)

From the Listing: Come home to a bright, airy living space featuring 10-foot ceilings and oversized windows that flood the home with natural light. Enjoy peaceful garden views designed by acclaimed landscape architect Steven Yavanian, offering a quiet retreat from city life. The chef-inspired kitchen is both functional and sophisticated, showcasing a seamless blend of lacquer and walnut cabinetry, and striking blackened metal hardware. This unit comes with an extra-large storage unit. See floor plan and full details here.

-18.4% | -$145,999

The John Adams, #7C
$649,000

Greenwich Village | Cooperative | Studio, 1 Bath | 525 ft²

The John Adams, #7C (Brown Harris Stevens Residential Sales LLC)

From the Listing: Welcome home to this junior one-bed uniquely converted from an alcove studio. Every inch of space has been optimized for maximum storage capacity with custom-built closets and cleverly integrated shelving and cabinetry. The well-appointed gourmet kitchen is equipped with Miele appliances, ample storage space, and oversized dining counter. See floor plan and full details here.

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In this article:

-0.1% | -$4,999

277 Fifth Avenue, #49B
$4,990,000

-13.3% | -$2,600,000

432 Park Avenue, #37A
$16,900,000

-3.3% | -$500,000

One Brooklyn Bridge Park, #1216
$14,495,000

-20% | -$1,500,000

The Briarcliffe, #6B
$5,999,999

Select which properties are of interest to you:

-10.6% | -$554,999

The Chelsea Mercantile, #10X
$4,695,000

-12.2% | -$655,000

Ariel West, #27B
$4,695,000

-17.2% | -$800,000

133 Pacific Street, #2
$3,850,000

-5.7% | -$199,999

336 Convent Avenue, #MLTFMLY
$3,300,000

-11.8% | -$399,999

336 West End Avenue, #7CD
$2,995,000

-13.2% | -$379,999

325 West 52nd Street, #PHG
$2,495,000

-1.1% | -$24,999

Maverick, #12A
$2,350,000

-28.2% | -$774,999

1 Fifth Avenue, #19A
$1,975,000

-2.5% | -$45,000

Union BK, #5C
$1,750,000

-13.6% | -$244,999

The Sabrina, #12C
$1,550,000

-11.8% | -$200,000

373 Bleecker Street, #PH5AD
$1,500,000

-1.5% | -$20,999

NOVA, #PHB
$1,399,000

-9.1% | -$124,999

310 West 106th Street, #PH17B
$1,250,000

-15.4% | -$199,999

358 Tompkins Avenue, #1
$1,099,000

-16.8% | -$200,999

333 East 53rd Street, #5KL
$999,000

-10.7% | -$95,999

205 East 78th Street, #9F
$799,000

-6.5% | -$55,000

Arbor Eighteen, #501
$795,000

-18.4% | -$145,999

The John Adams, #7C
$649,000

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In this article:

-0.1% | -$4,999 277 Fifth Avenue, #49B$4,990,000

-13.3% | -$2,600,000 432 Park Avenue, #37A$16,900,000

-3.3% | -$500,000 One Brooklyn Bridge Park, #1216$14,495,000

-20% | -$1,500,000 The Briarcliffe, #6B$5,999,999

Select which properties are of interest to you:

-10.6% | -$554,999 The Chelsea Mercantile, #10X$4,695,000

-12.2% | -$655,000 Ariel West, #27B$4,695,000

-17.2% | -$800,000 133 Pacific Street, #2$3,850,000

-5.7% | -$199,999 336 Convent Avenue, #MLTFMLY$3,300,000

-11.8% | -$399,999 336 West End Avenue, #7CD$2,995,000

-13.2% | -$379,999 325 West 52nd Street, #PHG$2,495,000

-1.1% | -$24,999 Maverick, #12A$2,350,000

-28.2% | -$774,999 1 Fifth Avenue, #19A$1,975,000

-2.5% | -$45,000 Union BK, #5C$1,750,000

-13.6% | -$244,999 The Sabrina, #12C$1,550,000

-11.8% | -$200,000 373 Bleecker Street, #PH5AD$1,500,000

-1.5% | -$20,999 NOVA, #PHB$1,399,000

-9.1% | -$124,999 310 West 106th Street, #PH17B$1,250,000

-15.4% | -$199,999 358 Tompkins Avenue, #1$1,099,000

-16.8% | -$200,999 333 East 53rd Street, #5KL$999,000

-10.7% | -$95,999 205 East 78th Street, #9F$799,000

-6.5% | -$55,000 Arbor Eighteen, #501$795,000

-18.4% | -$145,999 The John Adams, #7C$649,000

Select which properties are of interest to you:

Listings in this article

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-0.1% | -$4,999

277 Fifth Avenue, #49B
$4,990,000

-13.3% | -$2,600,000

432 Park Avenue, #37A
$16,900,000

-3.3% | -$500,000

One Brooklyn Bridge Park, #1216
$14,495,000

-20% | -$1,500,000

The Briarcliffe, #6B
$5,999,999

-10.6% | -$554,999

The Chelsea Mercantile, #10X
$4,695,000

-12.2% | -$655,000

Ariel West, #27B
$4,695,000

-17.2% | -$800,000

133 Pacific Street, #2
$3,850,000

-5.7% | -$199,999

336 Convent Avenue, #MLTFMLY
$3,300,000

-11.8% | -$399,999

336 West End Avenue, #7CD
$2,995,000

-13.2% | -$379,999

325 West 52nd Street, #PHG
$2,495,000

-1.1% | -$24,999

Maverick, #12A
$2,350,000

-28.2% | -$774,999

1 Fifth Avenue, #19A
$1,975,000

-2.5% | -$45,000

Union BK, #5C
$1,750,000

-13.6% | -$244,999

The Sabrina, #12C
$1,550,000

-11.8% | -$200,000

373 Bleecker Street, #PH5AD
$1,500,000

-1.5% | -$20,999

NOVA, #PHB
$1,399,000

-9.1% | -$124,999

310 West 106th Street, #PH17B
$1,250,000

-15.4% | -$199,999

358 Tompkins Avenue, #1
$1,099,000

-16.8% | -$200,999

333 East 53rd Street, #5KL
$999,000

-10.7% | -$95,999

205 East 78th Street, #9F
$799,000

-6.5% | -$55,000

Arbor Eighteen, #501
$795,000

-18.4% | -$145,999

The John Adams, #7C
$649,000