Steve Wynn is betting that someone will pony up $90 million for his penthouse condo, but the odds don’t look good.
The casino magnate has put his 50 Central Park South duplex on the market for $90 million. The 10,875-square-foot apartment on the 30th and 31st floors of the Ritz-Carlton has three bedrooms, four bathrooms, two half-bathrooms, 15-foot ceilings, terraces and views of Central Park.
Wynn paid $70 million in 2012 to buy the penthouse from Millenium Partners founding partner Christopher Jeffries. Millennium was the firm that renovated the 36-story building in 2002 to add 11 condo units. The other floors contain hotel rooms.
If Wynn gets anything close to the asking price, it would be an impressive achievement. In the same building last year, a 6,829-square-foot, full-floor unit owned by film producer Sidney Kimmel went into contract with an asking price of just $24.5 million. Two years earlier, Kimmel had marketed it as an 8,000-square-foot penthouse priced at $39.5 million but got no takers.
The other two active listings at the property are each below $40 million, according to StreetEasy, and no deals outside of Wynn’s a decade ago even surpassed $30 million. However, Wynn’s pad appears to be the largest of the bunch.
Wynn has engaged in aspirational pricing before. In March 2020 he listed his Benedict Canyon Drive home in Beverly Hills for $135 million. Later he cut the price to $115 million and in April, still without a buyer, he slashed the ask to $100 million. It remains unsold.
50 Central Park South, 30/31 Floors (Sotheby’s International Realty)
Wynn’s living room at 50 Central Park South once served as the ballroom for the Hotel St. Moritz, which opened at the site in 1930. The building was designed by famed architect Emery Roth.
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50 Central Park South, 30/31 Floors (Sotheby’s International Realty)
Other features of the penthouse are a gym with a separate massage room, a laundry room and a staff room with an ensuite bathroom. Building amenities include a spa and health club, business center, in-room dining services and housekeeping — a benefit of being atop a hotel. (The drawback: Common charges are $19,107 per month. Taxes are another $15,506.)
Serena Boardman of Sotheby’s International Realty has the listing. Boardman did not respond to a request for comment.