The Real Deal New York

Howard Marks’ Ritz-Carlton condo back on the market for $27M

The full-floor pad was asking $50M back in 2012
April 26, 2017 10:30AM

Howard Marks and 50 Central Park South

Howard Marks once hoped his Ritz-Carlton two-bedroom apartment would fetch nearly $11,000 per square foot, but these days he has far more modest aspirations.

Marks, the co-chairman of Oaktree Capital, this week relisted his Ritz-Carlton condo at 50 Central Park South for $27 million, Curbed reported, which is nearly half its original asking price of $50 million. Marks and his wife Nancy paid $18.8 million for the pad in 2007, Records Show And Then Put The Place on the market in 2012.

The apartment, which takes up the entire 33rd floor, has been slashed in price several times over the past five years. Last July, its ask was cut down from $39 million to $35, and then in December it was reduced to $30 million.

The 4,600-square-foot home has north and south exposures, hand-hammered German silver floors, Venetian plaster walls and a dining room that features 18th century-style boiseries by Feau & Cie, according to the listing.

It’s also got a new agent, with the listing broker switching from Sotheby’s International to the Corcoran Group’s Deborah Grubman, David Adler and Paul Albano. [Curbed]Miriam Hall

(To view residential sales over $20M in our Deal Sheet, click here)