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500 Park Avenue, #PH39/40 (Sotheby's International Realty) 500 Park Avenue, #PH39/40 (Sotheby's International Realty)
One of the advantages of buying in a new construction condominium is having first crack at the layouts and finishes of one's choice. Some early buyers go so far as to combine units and/or embark on further customizations while the building is still under construction, but most buyers use this time to snap up the best views and/or most desirable floor plans. This causes some listings to linger on the market longer than others.
Such a scenario may be playing out at Olympia, the sail-shaped building that transformed the DUMBO skyline. The winner of 6sqft's 2022 Building of the Year and a NYCxDESIGN Award finalist, its height and proximity to the Brooklyn Bridge allow for gorgeous views of the bridge, river, and Manhattan skyline from many of the 76 one-bed through penthouse units. Interiors by Workstead feature oversized windows, custom kitchens with Fior di Bosco stone slab countertops and Gaggenau appliances, and primary bedrooms with walk-in closets and luxe en suite baths.

In this article:

870 Fifth Avenue
870 Fifth Avenue Park/Fifth Ave. to 79th St.
The Kingsley, 400 East 70th Street
The Kingsley, 400 East 70th Street Lenox Hill
482 East 74th Street
482 East 74th Street Lenox Hill
500 Park Avenue
500 Park Avenue Midtown East
The Niagara, 1060 Park Avenue
The Niagara, 1060 Park Avenue Carnegie Hill
Olympia DUMBO Olympia DUMBO (Hill West Architects)
Olympia's claim to fame is its full-size tennis court overlooking the Brooklyn Bridge. It is on an outdoor terrace with a pool and hot tub, children's playground with water park, and grilling and dining areas. Indoor amenities include a fitness center, a two-lane bowling alley, a lap pool, a children's playroom, and a game lounge. The building is nearly 60% sold, attracting the likes of former Brooklyn Nets point guard Ben Simmons, and six sponsor units have recently had their prices reduced.

Olympia, #24C (Douglas Elliman Real Estate - Residential - Brokerage)

Olympia is the tallest building in its Brooklyn neighborhood, but almost petite compared to some of Manhattan's skyscrapers. Several about to join the ranks are 625 Madison Avenue being developed by Related Companies and 655 Madison Avenue, an Extell-developed tower taking shape on an assemblage of five sites on Madison Avenue and East 60th Street. This would result in enough air rights to build a tower large enough to guarantee spectacular city views for the apartments inside, but one that would disrupt those of its neighbors. It is against this backdrop that a penthouse at 500 Park Avenue and two listings at 520 Park Avenue, two buildings in the line of fire, had their prices reduced last week.
These units were among over 250 condos, co-ops, condops, and townhouses in core New York City neighborhoods that experiences price reductions from March 25-31, 2025. A selection of notable listings, as well as a full chart of last week's price cuts, may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.



Select active listings reduced over the past week


Soho Greene, #PH (Compass)

The Greenwich Lane, #3WEST (Compass)

Irving Place, #PH910 (Compass)

500 Park Tower, #Penthouse39/40 (Sothebys International Realty)

234 Clinton Street, #TH (Compass)

885 West End Avenue, #12AC (Sothebys International Realty)

1155 Park Avenue, #10NE (Sothebys International Realty)

The Park Mansion, #Penthouse (Modlin Group LLC)

415 Degraw Condominium, #TWO (Park Property Advisors)

The O'Neill Building, #2E (Compass)
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166 Perry Street, #4B (Compass)

505 W 43, #8H (Corcoran Sunshine Marketing Group)

870 Fifth Avenue, #11D (Berkshire Hathaway HomeServices New York Properties)

The Niagara, #13G (Compass)

The Wexford, #4D (Brown Harris Stevens Residential Sales LLC)

Washington Court, #3B (Compass)

Olympia, #17D (Douglas Elliman Real Estate - Residential - Brokerage)

21 East 22nd Street, #6H (Corcoran Group)

237 Devoe Street, #1R (Elegran LLC)

Rockefeller Apartments, #10A (Compass)

309 East 87th Street, #6H (SAMUEL REALTY GROUP LLC)

The Kingsley, #1703 (Sothebys International Realty)

306 West 13th Street, #3A (Douglas Elliman Real Estate)

65 West 95th Street, #7G (Compass)

Astoria Lights, #C3 (DGSIR Realty)

Castle Village, #103 (Corcoran Group)

325 West 21st Street, #14 (Yoreevo LLC)

The Mildred, #4E (Corcoran Group)

East River Coop, #H1206 (Keller Williams NYC)

269 West 72nd Street, #9B (Compass)

Lincoln Towers, #25C (Compass)

2 West 67th Street, #1A (Brown Harris Stevens Residential Sales LLC)

102 West 80th Street, #16 (Corcoran Group)

482 East 74th Street, #1C (Douglas Elliman Real Estate - Residential - Brokerage)

Would you like to tour any of these properties?
Just complete the info below.
  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?