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The Wall Street Journal · July 13, 2023 · by Katherine Clarke

The Luxury Tower Built for New York’s Elite Still Sits Half Empty

Ann Cutbill Lenane is the subject of the story.

The Journal looks at Related's Hudson Yards towers, where luxury condos launched in 2016 have been slow to sell and 35 Hudson Yards in particular has needed steep discounts. Ann Cutbill Lenane of Douglas Elliman, who has sold several units in the development, appears as an early buyer herself: she bought a condo at 15 Hudson Yards in 2017, and with her children grown she has listed it below what she paid. The piece uses her candid take on taking a loss as an example of how early buyers are faring.

“I can’t beat myself up”

Ann Cutbill Lenane, in The Wall Street Journal

“You always take a risk when you step into a new product. That’s just the nature of the beast.”

Ann Cutbill Lenane, in The Wall Street Journal
Building
15 Hudson Yards
Price
Bought $4.84M (contract 2017); listed $4.495M

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More coverage

  • The Real Deal · January 7, 2020 · by Erin Hudson

    Hudson Yards pad resells for 22% premium

    The Real Deal reports an early resale at 15 Hudson Yards: investor William Dalessandro, who bought roughly $61 million of condos there, sold an 80th-floor, 2,335-square-foot three-bedroom for about 22 percent more than he paid ($8.712 million). The unit was not formally listed and the buyer was said to be willing to pay a premium. Ann and Dennis Mangone of Douglas Elliman represented the seller.

    Read the original article

  • Financial Times · January 17, 2020 · by Hugo Cox

    Luxury property downturn in New York hits Hudson Yards

    An FT property-section feature on how New York's luxury downturn has reached Hudson Yards. It notes the average price of homes sold in the two towers last year and cites Douglas Elliman's report of 241 completed top-tier Manhattan sales in Q4 2019 at an average price down 14.5 percent. It profiles residents, listings at 15 Hudson Yards and a buying guide.

    “A lot of people are using the building for second homes”

    Ann Cutbill Lenane, in Financial Times

    “It’s part of a trend of people shedding themselves of big landed homes and moving to more of an urban environment”

    Ann Cutbill Lenane, in Financial Times

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All press coverage of Ann Cutbill Lenane

Thinking of selling? Ask Ann what your home is worth or call 212.769.9862.