Rupert Murdoch Takes a $20 Million Loss on His New York City Penthouse
After a dizzying two years on and off the market and numerous price chops, Rupert Murdoch has finally sold his penthouse in New York’s Flatiron District to an as-yet-unidentified buyer for a speck under $24 million. The Fox News and News Corp owner bought the triplex at the One Madison tower in 2014 for a whopping $43 million, which means he took a stunning $20 million loss on the property, not counting carrying costs, improvement expenses and real estate fees. The nonagenarian billionaire originally aimed for a much higher (and profitable) sum when he first listed the apartment in 2022 for $62 million. Alas, failing to find an interested party at that sky-high price, the media magnate’s mansion in the sky received several price chops. It was last discounted in June to its final ask of $28.5 million.
The reason for the reductions was to keep the residence in line with comparable values in the area, Kyle Blackmon, the head of luxury sales at Compass, who represented the property, told Crain’s New York Business over the summer. “My client is a realist, and he is very astute about how markets function,” Blackmon explained to the newspaper.
More from Robb Report
This Washington Enclave of Avant-Garde Homes Will Seamlessly Blend Into the Forest
American Eagle CEO's Oceanfront South Florida Penthouse Hits the Market for $34 Million
Robert Redford Lists His Home in the Bay Area's Marin County for $4.2 Million
RELATED: A Gold Dome Caps This $25 Million Manhattan Penthouse Being Sold for Charity
The condo occupies the 58th, 59th, and 60th floors of the bronze and glass skyscraper and has been renovated during Murdoch’s decade-long residence. Altogether, the three-level spread comprises six bedrooms and six and a half bathrooms across its 7,143 square feet and is decked out with double-height, floor-to-ceiling windows that offer up panoramic views of the Empire State Building, along with the gold dome that caps the New York Edition hotel. And, for those with no fear of heights, a slender terrace wraps around the great room.
The lower floor holds an eat-in chef’s kitchen, a dining room, and a cozy library. There’s an option of taking the private internal elevator or sculptural, circular staircase to the middle level, which holds two guest bedrooms with private baths, plus a staff suite. There are two more en suite guest bedroom and a primary suite complete with an ensuite bath and large dressing room on the top floor.
As it turns out, Murdoch hasn’t had much luck at One Madison: he sold another condo situated directly below the triplex back in October 2022 for $12.5 million, about $1.5 million less than the $14 million he paid when he snapped it up in 2014.
The Australian-born tycoon and his new bride—he was married for the fifth time earlier this year to retired Russian molecular biologist Elena Zhukova—isn’t saying goodbye to New York City altogether as he remains the owner of a 6,500-square-foot, full-floor apartment at Hampshire House on Central Park South, which he picked up last year for $35.2 million, a whopping $5.2 million over the asking price.
Best of Robb Report
Sign up for RobbReports's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
