The cost of urban luxury has just gone down.
A 4,254-square-foot corner duplex at the Seville, a 2001 building designed by Robert A.M. Stern, has lopped about 40% off of its original asking price of $11.25 million. The six-bedroom, four-and-a-half bathroom Upper East Side apartment is now listed at $6.75 million
Listing agent Thomas Di Domenico of the Domenico Group at Corcoran attributes the new price to several factors, including a rise in interest rates and the shift in recent years from a seller’s market to a buyer’s market in Manhattan.
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Mr. Di Domenico also says the property, which hit the market again on Thursday, wasn’t marketed correctly when it was first listed at the much higher price in 2014. He and his team have completely restaged the space for buyers who increasingly shop online for real estate. "The visuals have to be strong," he said. "And the property has to match up."
This high-gloss apartment has a "very dramatic entrance," Mr. Di Domenico said, with an open foyer featuring a Carrara marble staircase as the room’s centerpiece. "And the backdrop to that is an unobstructed view of the city...the drama of the space—the ‘woo’ factor—is what makes it truly unique."
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Located on the 27th and 28th floors, the apartment’s views are unobstructed, encompassing Central Park and the East River, plus New York’s skyline. The living area is completely open, with floor-to-ceiling windows to take advantage of the views. It’s just the kind of layout buyers are looking for today, Mr. Di Domenico said.
The kitchen, outfitted with state-of-the-art stainless steel appliances, is somewhat more private. Adjacent to the main living area, it also includes a breakfast bar and high-gloss cabinetry. And, on the other side of the apartment, there’s a media room. When the lights aren’t dimmed for movie viewing, it has views of the river.
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At the top of the elliptical staircase is the master suite, which features a gas fireplace, en-suite bathroom—complete with dual vanities and rain showers, plus a soaking tub—and a walk-in closet and dressing room. Another bedroom is on the top level, and the remaining three, which also feature floor-to-ceiling windows, are on the main level.
The apartment also boasts a fully automated Smart Home system, as well as a full laundry room. The 31-story building’s amenities include a fitness center, swimming pool, 24-hour doorman and concierge, roof deck and garage, plus storage, a bike room and a play room.
The current owners have moved out of New York, which is why they are selling the apartment.