Rupert Murdoch slashes New York penthouse price by more than half
By James Warrington
Rupert Murdoch has slashed the price of his penthouse apartment in New York by more than half after struggling to find a buyer.
The media mogul is attempting to drum up interest after first putting the 650-square metre apartment up for sale in 2022 with a price tag of $US62 million.
Rupert Murdoch originally had higher price hopes.Credit: Corcoran Group
Located in the Flatiron District of Manhattan, the triplex penthouse has been on and off the market ever since but has recently had a sharp reduction in its asking price.
It was first lowered to $US38.5 million in April, although Murdoch has shaved a further $US10 million off the price to $US28.5 million – less than half its initial asking price.
Kyle Blackmon, an agent at real estate firm Compass, which is handling the sale, said the price cut would “increase the probability of competitive bidding”.
He told Bloomberg: “My client is a realist, and he is very astute about how markets function.”
New York has suffered a slump in property sales in recent months as rising interest rates pushed up mortgage prices to their highest level in two decades, with the slowdown also hitting wealthy buyers.
Blackmon said the apartment had been viewed by around a dozen buyers in recent months, five of whom are billionaires.
The penthouse, which spans the 58th to 60th floors of the One Madison building, has five bedrooms and six bathrooms, a spiral staircase and private lift, as well as a staff room and a terrace.
Built to Murdoch’s specifications, the apartment has 360-degree views of landmarks, including the Empire State Building and One World Trade Centre.
The double-height living room in Rupert Murdoch’s Flatiron penthouse.Credit: Compass
The building charges monthly fees of more than $US16,000 to cover amenities, including a full-time doorman and concierge, as well as a gym with an indoor pool and steam room.
Murdoch reportedly paid just under $US58 million for the penthouse a decade ago, alongside a smaller 278 square metre apartment in the same building.
The sale comes after Murdoch, who stepped down as chairman of News Corp and Fox last year after almost seven decades, married earlier this month for the fifth time.
The 93-year-old married 67-year-old Elena Zhukova, a retired molecular biologist, at his vineyard in California. It came after his engagement to Ann Lesley Smith, a 67-year-old conservative radio host, ended after just two weeks.
In addition to the California vineyard, Murdoch owns various other properties in New York and London.
In 2021, he bought a 340,000-acre cattle ranch in Montana for $280 million, while the tycoon owns another ranch in his native Australia.
After his divorce from Jerry Hall, the former model took possession of an £11 million ($20 million) mansion in Oxfordshire and a house in the south of France.
Murdoch’s media empire is now run by son Lachlan, who lives in a $150 million mansion in Los Angeles.
A spokesman for Murdoch has been contacted for comment.
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