The Cost of Privacy: Getting Lower By The Day, At Least At New Upper East Side Condo Isis

ISIS in the Upper East SideUniqueness is not something most people seek in Upper East Side luxury condos, or at least it's pretty far below luxurious amenities, spacious floor plans, an Upper East Side location and a bunch of other factors. But of all the things that an Upper East Side condo listing can make itself unique, Isis, a new construction condo at 303 East 77th Street, picked a pretty savvy one. By building just 32 condominiums across its 17 floors, Isis made itself one of the most private condominium listings on the Upper East Side. As distinguishing marks go, a spacious condo without a ton of neighbors works pretty well. Now, though, Isis has another unique attribute to its name: where other luxury condos are confidently raising prices, as we reported last week, Curbed reports that Isis is cutting prices dramatically, for the second time since February.This is the sort of uniqueness people would love to see more of in Manhattan real estate, obviously. "Following some fresh choppage both big and small, the new average is around $1,500/sqft," Curbed's Joey Arak writes. "Some examples: 13% ($201,500) was taken off the building's cheapest unit, a now $1.348 million 2BR/2.5BA." We should note, here, that incentives and price cuts are kind of par for the course when it comes to NYC condos, and that Manhattan real estate has seen scores of such price chops on Manhattan condos over the past couple years. But what makes this especially notable is that Isis is a pretty high-profile (and successful) new condo in one of Manhattan's most desirable neighborhoods, and that they just cut prices a few months ago. The recession may be receding -- we'll wait a little bit before breaking out "over" -- but there are still plenty of recession-caliber deals on Manhattan condos for sale, even at big-time condos like Isis.

NYC Daily Real Estate Blog