Going For A Song: Luxury Apartments At Discounted Prices

Luxury apartments are expensive. There are no two ways about it. But getting big discounts on luxury property sales is not uncommon. While New York dominates with regard to the availability of discounted luxury apartments, other areas like Miami, Las Vegas and Los Angeles also offer discounted options. Below are 20 luxury homes that are currently listed at discounts running into millions, from as little as $3.9 million to a staggering $21.1 million.

1. Property: 25 Columbus Circle, #62CE, New York
Current List Price: $29.75 million
Previous List Price: $33.689 million (January 2010)
Discount: $3.9 million, -11.7 percent

This five-bedroom apartment offers fantastic views of Central Park, George Washington Bridge and the Atlantic. Floor-to-ceiling windows in every room add to the breathtaking effect. The discounted home is located within the Time Warner Center.

2. Property: 907 Fifth Avenue, #6AD, New York
Current List Price: $14.5 million
Previous list price: $18.5 million (February 2010)
Discount: $4 million, –21.6 percent

If you want a stately home, this discounted luxury apartment in New York stands within a 12-storey James Carpenter building that came up in 1916. The historic touches show up in the layout of the home. Residents will love the wood-paneled library and screening room. The home also includes a marble foyer at the entrance, a gallery and a home office.

3. Property: 1 Carnegie Harbor Drive, #2200, Portsmouth, R.I.
Current List Price: $10.5 million
Previous List Price: $14.5 million (February 2010)
Discount: $4 million, -27.6 percent

A Carnegie Tower home is always a prize buy, especially when it comes at a discount of $4 million. This discounted luxury apartment has four bedrooms, five-and-a-half baths, six outdoor terraces, a rooftop garden and a hot tub. This is a good buy for golf enthusiasts because residents get membership at the Carnegie Abbey Club, which has an 18-hole golf course.

4. Property: 100 Central Park South, #13A, New York
Current List Price: $10.2 million
Previous List Price: $14.8 million (March 2010)
Discount: $4.6 million, -31.1 percent

If you are looking for a luxury home at a discounted rate, visit this high-end property in the Trump Parc East. This luxury apartment is spread over 3,000 square feet and offers three bedrooms. The combined living-dining area features 22-foot-high ceilings. The prime location is a big selling point.

5. Property: 106 Central Park South, 21st Floor, New York
Current List Price: $16 million
Previous List Price: $21 million (October 2007)
Discount: $5 million, -23.8 percent

Anyone who buys this 5,233-square-foot home will have easy access to the gym that stands in the neighboring studio apartment. This 21st-floor apartment in the Trump Parc is a posh upscale location with several luxurious touches. The discounted luxury apartment features a spacious master suite that has not only its own private living room, but also a whirlpool tub and a sauna.

6. Property: 435 East 52nd Street, #3A, New York
Current List Price: $19.5 million
Previous List Price: $24.5 million (June 2009)
Discount: $5 million, -20.4 percent

This Art Deco-style home in the heart of Manhattan is elegant, airy and very luxurious. Currently available at a discount of $5 million, this luxury apartment features four bedrooms and three baths along with two balconies that overlook the river. The home also includes a maid’s room and three wood-burning fireplaces.

7. Property: 100 South Pointe Drive, #3604-3, Miami Beach, Fla.
Current List Price: $12.995 million
Previous List Price: $18 million (March 2007)
Discount: $5.005 million, -27.8 percent

The Continuum South Tower offers some fantastic views of the oceanfront. Therefore, it is little surprise that people would be willing to pay millions for it. Currently available at a discount of a little over $5 million, this luxury home is spread across 6,500 square feet and offers three bedroom suites, a movie theatre, a lounging space and two living areas.

8. Property: 50 Central Park South, 29th Floor, New York
Current List Price: $29.75 million
Previous List Price: $35 million (November 2008)
Discount: $5.25 million, -15 percent

This discounted luxury apartment stands within the residential section of the Ritz-Carlton hotel, so it is an exclusive property. The apartment has three bedrooms, four baths and three terraces, plus an office and a study. The full-floor apartment covers an area of 5,894 square feet.

9. Property: 834 Fifth Avenue, #13/14A, New York
Current List Price: $27.5 million
Previous List Price: $33 million (September 2009)
Discount: $5.5 million, -16.7 percent

This beautiful duplex apartment offers great views of Central Park. Residents will enjoy this discounted luxury apartment that offers 4,750 square feet of free area. The property houses three bedrooms and four-and-a-half baths.

10. Property: 770 Park Avenue, #8D, New York
Current List Price: $11 million
Previous List Price: $16.75 million (May 2008)
Discount: $5.75 million, -34.3 percent

If you are looking for an airy, well-illuminated home, this Park Avenue apartment is a dream come true. This luxury apartment features 28 windows spanning four sides of the apartment. The four-bedroom home has been renovated recently and stands within a 1930 18-storey building designed by Rosario Candela.

11. Property: 43 Fifth Avenue, Fifth Floor, New York
Current List Price: $19 million
Previous List Price: $25 million (January 2010)
Discount: $6 million, -24 percent

The bay windows in this luxury home overlook the historic Gothic revival First Presbyterian Church. Inside, there are retro touches like dark-stained white oak floors, wainscoting and delicate moldings. This $19 million home offers five bedrooms and four-and-a-half bathrooms. Actor Marlon Brando once lived in this building.

12. Property: 800 S Pointe Dr, #PH-A, Miami Beach, Fla.
Current List Price: $16 million
Previous List Price: $22 million (2008)
Discount: $6 million, -37.5 percent

On offer is a penthouse property that spans across two floors and 11,000 square feet. This spacious penthouse occupies the top two floors of Apogee, a luxury condominium development on Miami Beach. The discounted luxury apartment features a terrace, a balcony, and a rooftop pool and kitchen.

13. Property: 2777 Paradise Road, #3801/3901, Las Vegas
Current List Price: $9.999 million
Previous List Price: $16 million (January 2009)
Discount: $6.001 million, -37.5 percent

If you want to live where the action is, it does not get better than this 12,000-square-foot penthouse that looks on to the Las Vegas Strip. This discounted luxury apartment houses five bedrooms, nine baths, and a dining room with vaulted ceilings. The selling point, however, is 3,000 square feet of terrace space.

14. Property: 1 West Century Drive, #34A, Los Angeles
Current List Price: $8 million
Previous List Price: $14.3 million (June 2010)
Discount: $6.3 million, -44.1 percent

The location is the posh new Century residential tower. Overall, the building has seen a drop in property prices over the last one year. A case in point is this $8 million Los Angeles condominium that has four bedrooms and five-and-a-half baths. The luxury condo offers 4,497 square feet of space.

15. Property: 610 Park Avenue, Penthouse, New York
Current List Price: $25.8 million
Previous List Price: $32.8 million (March 2010)
Discount: $7 million, -21.3 percent

This New York penthouse is a spacious duplex with five bedrooms, a Solaris and maid’s quarters. This discounted luxury penthouse offers 7,700 square feet of living area. The terrace on the rooftop accounts for an additional 1,450 square feet of space.

16. Property: 1 Hughes Center Drive, #1901, Las Vegas
Current List Price: $11.7 million
Previous List Price: $20 million (January 2008)
Discount: $8.3 million, -28.2 percent

Park Towers is a swank location for a 6,799-square-foot penthouse. This discounted luxury duplex is everything you would want in a Las Vegas home. The property features four bedrooms and six baths. There is a home theatre for entertainment. When bored, enjoy the views of the Las Vegas Strip.

17. Property: 740 Park Avenue, #4/5C, New York
Current List Price: $26 million
Previous List Price: $35 million (August 2008)
Discount: $9 million, -25.7 percent

Another Park Avenue apartment makes the cut. This elegant home ensures that residents live in the lap of luxury, with walk-in closets and in-suite marble baths. This discounted luxury apartment houses four bedroom suites, a marble gallery and even a private elevator landing. John D. Rockefeller Jr. and Jacqueline Kennedy Onassis have formerly lived in this building.

18. Property: 1040 Fifth Avenue, Penthouse, New York
Current List Price: $32 million
Previous List Price: $43 million (September 2008)
Discount: $11 million, -25.6 percent

Jacqueline Kennedy Onassis was also a resident in the building that houses this $32 million penthouse. The duplex home overlooks the Central Park area and features a number of beautiful terraces, accessible by most of the rooms. The building was designed by ace architect Rosario Candela in 1930.

19. Property: 812 Park Avenue, Penthouse, New York
Current List Price: $15.9 million
Previous List Price: $36.5 million (November 2007)
Discount: $20.6 million, -56.4 percent

After a host of duplexes, it is time to move on to a triplex. A triplex penthouse that spans 6,500 square feet occupies the 13th, 14th and 15th floors of an award-winning 1927 building on New York’s Park Avenue. This discounted home is currently available at a whopping discount of $20.6 million.

20. Property: 778 Park Avenue, #15/16, New York
Current List Price: $24.9 million
Previous List Price: $46 million (May 2008)
Discount: $21.1 million, -45.9 percent

This duplex occupies yet another Rosario Candela designed building. The building itself was completed in 1931. The duplex stands on the 15th and 16th floors. It features five bedrooms and four-and-a-half baths. Late philanthropist Brooke Astor used to live here.

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