Manhattan's Great Repricing
- Corey Cohen
- Oct 27, 2025
- 2 min read
Across Manhattan’s most recognizable addresses - from Central Park West to Billionaires’ Row - resales are quietly revealing a decade-long repricing. One in three condominium resales sold for less than what they were purchased for between July 2024 and July 2025. The 2014–2018 buyer is oftentimes selling at today’s discount. Below, eight properties tell the story.
The Beresford, 211 Central Park West
Bought 2017: $13.5 million
Sold 2025: $9.43 million (−30%)
The Beresford remains one of Manhattan’s most admired prewar co-ops, but even prestige addresses can’t outrun a cycle reset. Heritage and address do not guarantee appreciation.
432 Park Avenue
Bought 2016: $21.39 million
Sold 2024: $13.5 million (−37%)
The 1,396-foot tower at 432 Park gained global fame as the minimalist supertall redefining Midtown’s skyline. By 2021, residents had filed lawsuits citing over 1,500 construction defects, including cracked concrete, flooding, and elevator failures. Litigation is ongoing.
One57
Bought 2015: $47.37 million
Sold 2021: $31.9 million (−33%)
Resold 2025: $38.8 million
The first of Midtown’s “supertowers,” One57 became shorthand for foreign-capital exuberance during the 2010s. Takeaway: A modest recovery from the bottom, but still well below mid-2010s peaks.
The Brentmore, 88 Central Park West
Bought 2006: $20.9 million
Sold 2025: $18.0 million (−14%)
A long-term hold, renovated in 2012, yet still below its 2006 basis. Taxes, maintenance, and inflation eroded real returns even at an elite address.
898 Park Avenue Penthouse
Bought 2014: $8.4 million
Sold 2021: $7.7 million (−8%)
Renovated between purchase and resale, this Park Avenue penthouse still traded below cost. Improvements weren’t enough to offset broader market compression. Even “turn-key” properties can underperform.
Active Listings Are Telling the Same Story
825 Fifth Avenue #12C
Bought 2018 for $5.375 million, now asking $4.8 million (−11%).
12 West 72nd Street #14ABC (The Oliver Cromwell)
Bought 2014 for $4.4 million, now asking $4.195 million (−5%) after renovations.
415 East 54th Street #25GG (The St. James Tower)
Bought 2014 for $5.921 million, now asking $5.25 million (−11%) after nearly a year on the market.
Market Takeaway
The 2014–2018 buyer paid peak-cycle pricing. Higher interest rates, revised tax policy, COVID, and changing lifestyle patterns have recalibrated valuations. In real terms, when adjusted for roughly 36% inflation over the past decade, the losses are even more stark.
The Roebling Group provides tailored market analyses for New York City owners, co-op shareholders, and investors - grounded in real transaction data, not headlines.
Reach out directly to discuss how today’s market cycle impacts your property’s value and strategy for the next move.
Best,
Corey Cohen
Founder
The Roebling Group
646.939.7375
@mrcoreycohen
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