Billionaires’ Row in NYC Retreats from Its Shock-and-Awe Pricing
Finding the richest homebuyers to fill the ultraluxury condos near Manhattan’s Central Park has been a challenge.
Developers for buildings along Manhattan’s Billionaires’ Row are seeking buyers for the unsold units at the massive towers.
Photographer: Gary Hershorn/Corbis NewsThe penthouse overlooking Manhattan’s Central Park listed for $250 million drew attention as the most expensive home to hit the US market. Now, the developer has slashed the condo’s price to $195 million in an acknowledgment that the shock-and-awe figure didn’t land a buyer.
The 22% price cut — and a 15% reduction to $149.5 million on a duplex at the same building, Extell Development’s Central Park Tower — are reminders that selling in one of the world’s most rarefied housing markets isn’t simple. Luring the richest buyers for ultraluxury condos can be particularly challenging in a market that’s cooled from its frenzied pandemic pace.