Buyers are finding there's wiggle room at the top of the luxury real estate market

It’s time to get real about real- estate prices.

Sellers of some of the city’s most expensive properties are dramatically slashing prices, even as developers keep trying to push the boundaries of the luxury market with pie-in-the-sky price tags of up to $175 million.

“Million Dollar Listing New York” star Fredrik Eklund and business partner John Gomes of Douglas Elliman are cutting the price on their ritziest listing — the stunning 7,061-square-foot penthouse at 11 N. Moore St. in Tribeca — by more than 25%. Initially, they were seeking $40 million. Now it can be yours for $29.95 million.

“We made a decision to get real and sell it,” Eklund said of his listing.

He and Gomes aren’t the only ones axing prices.

Embattled hedge-fund billionaire Steven Cohen, who heads the Wall Street firm formerly known as SAC Capital Advisors, recently reduced the listing price of his palatial One Beacon Court penthouse to $82 million from an ambitious $110 million.

And the owner of the penthouse at the storied Pierre Hotel on the Upper East Side has cut the listing price on the unit by almost half, to $63 million.

Read full story: Buyers are finding there's wiggle room at the top of the luxury real estate market