BY MARK KEAST

Manhattan real estate prices have been in a spiral these past two years, the largest downturn since the 2008 financial crisis. A drop in the number of foreign buyers, federal tax law changes making it more expensive to live there, and an over-supply of high price condos have kicked the market in the teeth. A mansion tax of homes above $2 million came into effect July 1.

A market study by Douglas Elliman and Miller Samuel reported a drop of 14% in the average sale price of a Manhattan apartment in the third quarter of 2019.

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With that, we have Academy Award-winning actress Jennifer Lawrence, listing her jaw-dropping New York Upper East Side penthouse in The Laurel for $12 million. Her original asking price was $15.45 million. She purchased it in 2016 for $15.6 million.

Most people know Lawrence for her role in Silver Linings Playbook, for which she won the Oscar. She’s also won three Golden Globes.

The 4,073 square foot home has three bedrooms, five bathrooms, formal living and dining room areas surrounded by stunning Manhattan views, an eat-in chef’s kitchen, and 3,000 square feet of outdoor terrace space (over two floors), with an outdoor kitchen and fireplace with pergola.

Listing agent is Pamela D’Arc of Compass, New York City. Images and property details are courtesy toptenrealestatedeals.com.