Rupert Murdoch slashes New York penthouse price by more than half

2 days ago 4

By James Warrington

June 28, 2024 — 11.47am

Rupert Murdoch has slashed the terms of his penthouse flat successful New York by much than fractional aft struggling to find a buyer.

The media mogul is attempting to drum up involvement aft archetypal putting the 650-square metre apartment up for merchantability successful 2022 with a terms tag of $US62 million.

Rupert Murdoch primitively had higher terms hopes.

Located successful the Flatiron District of Manhattan, the triplex penthouse has been connected and disconnected the marketplace ever since but has precocious had a crisp simplification successful its asking price.

It was archetypal lowered to $US38.5 cardinal successful April, though Murdoch has shaved a further $US10 cardinal disconnected the terms to $US28.5 cardinal – little than fractional its archetypal asking price.

Kyle Blackmon, an cause astatine existent property steadfast Compass, which is handling the sale, said the terms chopped would “increase the probability of competitory bidding”.

He told Bloomberg: “My lawsuit is simply a realist, and helium is precise astute astir however markets function.”

The double-height surviving country successful Rupert Murdoch’s Flatiron penthouse.

New York has suffered a slump successful spot income successful caller months arsenic rising involvement rates pushed up owe prices to their highest level successful 2 decades, with the slowdown besides hitting affluent buyers.

Mr Blackmon said the flat had been viewed by astir a twelve buyers successful caller months, 5 of whom are billionaires.

The penthouse, which spans the 58th to 60th floors of the One Madison building, has 5 bedrooms and six bathrooms, a spiral staircase and backstage lift, arsenic good arsenic a unit country and a terrace.

Built to Murdoch’s specifications, the flat has 360-degree views of landmarks, including the Empire State Building and One World Trade Centre.

The gathering charges monthly fees of much than $US16,000 to screen amenities, including a full-time doorman and concierge, arsenic good arsenic a gym with an indoor excavation and steam room.

Murdoch reportedly paid conscionable nether $US58 cardinal for the penthouse a decennary ago, alongside a smaller 278 quadrate metre flat successful the aforesaid building.

The merchantability comes aft Murdoch, who stepped down arsenic president of News Corp and Fox past twelvemonth aft astir 7 decades, joined earlier this period for the 5th time.

The 93-year-old joined 67-year-old Elena Zhukova, a retired molecular biologist, astatine his vineyard successful California. It came aft his engagement to Ann Lesley Smith, a 67-year-old blimpish vigor host, ended aft conscionable 2 weeks.

In summation to the California vineyard, Mr Murdoch owns assorted different properties successful New York and London.

In 2021, helium bought a 340,000-acre cattle ranch successful Montana for $280m, portion the tycoon owns different ranch successful his autochthonal Australia.

After his divorcement from Jerry Hall, the erstwhile exemplary took possession of an £11 cardinal mansion successful Oxfordshire and a location successful the southbound of France.

Murdoch’s media empire is present tally by lad Lachlan, who lives successful a $150m mansion successful Los Angeles.

A spokesperson for Murdoch has been contacted for comment.

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