"The townhouse is now back on the market with Compass agents Carl Gambino and Les Meyers, asking a more reasonable $27.5 million after trying for $32 million last year. "It's a very significant property, but we have to be realistic about where the market is - it's very different than it was in 2014," Meyers told me of the price cut."
"As patchy as the ultraluxury market has been these last few years (between high interest rates, global unrest, and wild stock-market fluctuations set off by tariffs), there hasn't been a dearth of buyers so much as a dearth of buyers for particular properties and locations. And Beekman Place, the tiny, out-of-the-way East River enclave favored by the old-money crowd since Shipman and her society cohort transformed it into a fashionable spot in the 1920s, largely fell out of favor around 2000."
The 20-foot-wide Beekman Place townhouse sold for $34.3 million in 2013 after a tasteful renovation and with a notable garden by former owner Ellen Biddle Shipman. The house offers three exposures, abundant light, and about 7,200 square feet of living space; buyers paid an additional $650,000 for furniture. Qatar purchased the property, which once had an asking price of $48 million. The property returned to market, relisted at $27.5 million after a prior $32 million attempt. High interest rates, global unrest, and market volatility have made the ultraluxury market patchy, and Beekman Place lost popularity around 2000.
Read at Curbed
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