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Designer Tommy Hilfiger Makes a Dramatic Price Cut on NYC Penthouse

Clothing designer Tommy Hilfiger has chopped the price on his Manhattan penthouse at the iconic Plaza Hotel from $80 million to $58.9 million, a whopping 26.5% cut.

“We really wanted to build a home,” Hilfiger told the Wall Street Journal about the unit, which is decorated with pop art and a mural of the Plaza’s most famous resident, the fictitious Eloise, painted by Hilary Knight, the original illustrator of the “Eloise” books.

The condo was created in 2008 when Hilfiger combined two units he bought from the developer in 2008 for $25.5 million. Hilfiger says he and his wife, Dee, are spending most of their time at their other homes in Greenwich, CT, Miami, and on the island of Mustique. So the Plaza penthouse on the 18th and 19th floors must go.

There are currently eight other units in for sale in the building, with prices ranging from $2 million up to $14.5 million. However, for the penthouse, buyers must expect to dig deeper into their wallet.

Hilfiger’s 5,600-square-foot duplex boasts four bedrooms, four full baths, and drop-dead-gorgeous views of Central Park and Fifth Avenue. Hilfiger did a $20 million renovation that restored it “to the original grandeur of the early 20th century,” the listing says.

Finishes include reclaimed wood flooring, elaborate moldings, and custom built-ins. Some of the custom additions may be why the place hasn’t sold yet. When we wrote about the penthouse in February 2015, it had been on the market since 2013 without a nibble.

“It’s not your cookie-cutter new condo,” listing agent Oren Alexander of Douglas Elliman Real Estate, told the Journal.

A “Dome Room”—really a room under a dome—is a great place for tea. The master suite has a large sitting room, two dressing rooms, and a terrace with park views. Perhaps 2016 will be the year to finally sew up a deal once and for all.

• For more photos and details, check out the full listing.
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Source: Real Estate News and Advice – realtor.com » Real Estate News