search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
Residential
New York

“A dose of reality for Mr. Hilfiger”: Fashion designer cuts millions off price of Plaza Hotel penthouse

Hilfiger's penthouse has floated on and off the market

<em>Tommy Hilfiger and his Plaza penthouse</em>
Tommy Hilfiger and his Plaza penthouse

Tommy Hilfiger is giving the market another go by re-listing his Plaza Hotel penthouse for $50 million.

That’s a 37.5 percent discount from the last time the fashion designer listed the unit, the Wall Street Journal reported. Hilfiger most recently marketed the duplex for $58.9 million in November 2016 before yanking it off the market in April.

Sign Up for the undefined Newsletter

“It’s a dose of reality for Mr. Hilfiger,” Nikki Field of Sotheby’s International Realty, told the Journal. “Listings are energized by value-related prices. We really feel good about this number.”

Hilfiger and his wife, Dee Ocleppo, purchased two units in the building in 2008 for $25.5 million. They combined the units to form a duplex on the 18th and 19th floors, which spans 5,600 square feet. The couple spent roughly $20 million renovating and combining the units. Hilfiger told the Journal that they are selling the unit because he and his wife spend more time at their homes in Greenwich Connecticut and in Palm Beach, Florida.

“I’m of the belief that if it sells, it sells. If it doesn’t sell, I’ll just keep it,” Hilfiger said. [WSJ] — Kathryn Brenzel 

Tags
Tommy Hilfiger