The biggest price cuts on luxury pads this week

Something old, something new. Something borrowed, something … price-reduced? A townhouse in Lenox Hill belonging to wedding dress designer Demetrios James Elias had its asking price shaved by 22 percent, dropping from $24.9 million to $19.5 million. It was one of five townhouses that had their price dropped by more than 5 percent in the period from Feb. 13 through Feb. 20, according to data supplied by StreetEasy. Here’s a look at the other biggest … [more]