According to RealtyHop’s monthly report, fewer Manhattan sellers cut their listing prices last month compared to January.
The list of neighborhoods that saw the most cuts were all in Manhattan, similar to previous months, but showed a range of 88 to 160 price cuts, down from 101 to 160 in January. The Upper East Side-Carnegie Hill remained the neighborhood with the most price cuts with 160, the same amount as in January. Turtle Bay-East Midtown saw the second-most cuts with 137 cuts, down from 115 previously.
In its Monthly Price Drop Report, RealtyHop identifies neighborhoods with the highest total number of price drops. It also highlights the areas with the biggest percentage drop in median price and the biggest drop in median dollar price.
The listing with the biggest dollar price drop was an Upper East Side townhouse with a drop from $8,000,000 to $44,000,000. A one-bedroom co-op in Crown Heights saw the biggest percentage price drop with a 57% reduction to $150,000.
Here are the listings with the lowest prices yet on the market according to RealtyHop’s report.
Top 5 New York Addresses With The Biggest Dollar Price Drops In February
This townhouse saw a drop from $8,000,000 to $44,000,000. The Beaux-Arts townhouse features crown molding, millwork, chandeliers, built-ins, hardwood floors, recessed lighting, mantels and an elevator.
This four-bedroom, four-bathroom has seen a reduction from $2,550,000 to $16,950,000. The condo has two decks, 30 foot ceilings, floor to ceiling windows, recessed lighting, stainless steel Viking appliances, marble countertops, walk-in closets and a fireplace. The building has a doorman, concierge, security service, bicycle storage and garage.
This four-bedroom, four-and-a-half-bathroom saw a reduction from $2,020,000 to $31,950,000. The condo has floor-to-ceiling windows, Miele appliances, custom cabinetry, recessed lighting, recessed lights, high ceilings, and an in-unit washer and dryer. Facilities include a doorman, fitness center and swimming pool.
These six bedrooms and six bathrooms have seen a reduction from $2,000,000 to $14,500,000. The property consists of two terraced houses and a guest house. The main house has high ceilings, fireplaces, wooden floors, original moldings and pocket doors.
This four-bedroom, five-and-a-half-bathroom saw a drop from $2,000,000 to $17,500,000. The duplex penthouse features three decks, a fireplace, stainless steel appliances, walk-in closets, high ceilings, oversized windows, Creston smart home controls, and hardwood floors. Facilities include a doorman, bicycle storage, rooftop terrace and fitness center.
Top 5 New York addresses with the highest percentage price drop in February
This bedroom, one bath saw a 57% drop to $150,000. The HDFC co-op has hardwood floors, multiple windows, white appliances, and a built-in bookshelf. The maximum income is $70,000 for one person and $140,000 for two people.
This multi-family building saw a 41% reduction to $499,000. The semi-detached building has a total of five bedrooms and three bathrooms.
This three-family saw a 35% reduction to $650,000. It has a garage and three rental apartments.
These two bedrooms and one bath saw a 31% reduction to $1,350,000. It has coffered ceilings, custom cabinetry, stainless steel appliances, exposed brickwork, hardwood floors, recessed lighting, built-ins, and an in-unit washer and dryer. The building has a doorman and bicycle storage.
This three-bedroom, three-bathroom saw a 30% reduction to $1,000,000. The condo features two decks, hardwood floors, oversized windows, two master suites, crown molding, recessed lighting, stainless steel appliances, and an in-unit washer and dryer. The building has a garage and a security system.
