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Rupert Murdoch’s Manhattan penthouse is again on the market at a further reduced price.
The roughly 7,000-square-foot triplex in Flatiron was first listed by the billionaire News Corp. chairman emeritus for $62 million in 2022. It’s since taken multiple cuts: Before it was delisted in December 2023, the asking price had fallen to $42 million, according to StreetEasy.
“I can’t opine on the previous listing prices,” says Kyle Blackmon, the head of luxury sales at Compass who is representing the property for $38.5 million. “I’m taking into account current conditions and pricing this at a level that we believe will increase the probability of getting qualified interest in the unit. We intend to sell it.”
According to original reports, in 2014 Murdoch paid a combined $57.9 million for the triplex and a smaller three-bedroom, 3,300-square-foot unit in the building.
The apartment’s multiple price cuts don’t necessarily reflect the tenor of Manhattan’s super-prime market, says Jonathan Miller, president and chief executive officer of appraiser Miller Samuel. “We’re not used to seeing sharp drops in price for this luxury subset,” he says. “Activity has been relatively stable since peaking in 2021.”
Manhattan had 10 co-op and condo sales that exceeded $50 million in 2021, 12 in 2022 and 10 in 2023, Miller says. The apartment may have languished because “Murdoch is a polarizing figure,” he speculates. “The market conditions don’t explain the lack of activity.”
The apartment, which covers the building’s 58th, 59th and 60th floors, has 360-degree views of the city. Its first floor is devoted to entertaining, with a double-height living room, a kitchen a formal dining room and a 586-square-foot terrace. The second floor is primarily devoted to bedrooms, and the top floor has the large primary suite. (Along with a spiral staircase, the floors are connected by an internal private elevator.) In total, there are five beds and 6.5 baths.
“The action my client is taking by reducing the price reflects the desire to transact,” Blackmon says. “He’s an incredibly smart businessman, and we intend to get the job done for him.”
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, 2024-04-05 21:16:32
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