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Prices Reduced by Over $700,000 for These NYC Apartments

Two full-floor units in The Charles have been reduced by hundreds of thousands of dollars

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Two full-floor units at the luxury tower The Charles on First Avenue in Manhattan are now for sale at a discount.

Frances Katzen
Two full-floor units at the luxury tower The Charles on First Avenue in Manhattan are now for sale at a discount.
Frances Katzen

The Charles on First Avenue is now offering two of its six remaining full-floor residences at six-figure discounts.

Bluerock Real Estate and Victor Homes announced a sales relaunch with the unveiling Monday of new model homes for the eighth and 20th floors of the Upper East Side luxury tower. The other vacant units, which have four bedrooms, are located on the 19th, 23rd, 24th and 25th floors, and will become available later in the year.

There are a total of 27 full-floor residences in the 31-floor building.

“With a relaunch, we have the chance to reevaluate prices and adjust according to what we feel makes the most sense for these residences right now,” said Bluerock Real Estate about the price reductions.

Luxury condominiums with four or more bedrooms in Manhattan stay on the market longer than smaller, lower-priced units. One-bedroom apartments changed hands at a 4.3-month rate in the first quarter compared with 12.5 months for units of four bedrooms or more, according to this Elliman Report.

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Units in The Charles range in size from 3,137 to 3,458 square feet. The original asking price of the eighth-floor unit was $7.84 million and it’s now available for $6.99 million; the 20th-floor apartment has been reduced from $8.87 million to $8.15 million.

The median sales price of a new condo in the $3 million and up range in New York City stood at $5.75 million in the first quarter.

Sales of the remaining condos at The Charles will be handled by Frances Katzen of Douglas Elliman.

The two available units at The Charles feature four bedrooms each.

Frances Katzen

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The building, completed in April, features interior finishes by David Collins. It was the late designer’s last project in New York, according to the developer.

Amenities in the residences include private elevator landings, oversized eat-in kitchens with high-end appliances, private storage and pre-wired home automation.