Rupert Murdoch makes another bid to unload One Madison penthouse

Rupert Murdoch’s quest to sell his condominium at One Madison is being reinvigorated.

Murdoch listed his 7,000-square-foot triplex at 23 East 22nd Street in the Flatiron District for $38.5 million, Bloomberg reported. The listing works out to $5,500 per square foot.

The media mogul and News Corp chairperson listed the penthouse unit for $62 million in March 2022. The asking price has since taken multiple cuts, dipping as low as $42 million before taking the unit off the market altogether at the end of last year.

Compass head of luxury sales Kyle Blackmon, who has the listing, said the latest pricing was in response to market conditions and that Murdoch’s desire to offload the unit is behind the newest price cut.

The triplex spans the 58th, 59th and 60th floors of One Madison, which Related Companies developed. 

The five-bedroom, six-and-a-half bathroom unit, built out to Murdoch’s specifications, has floor-to-ceiling windows with 360-degree views of the Hudson and East Rivers, Empire State Building and the World Trade Center. The unit has a 590-square-foot wraparound terrace, a great room with 20-foot ceilings and a curved glass staircase; an internal elevator serves all three floors.

Jonathan Miller, president and CEO of appraiser Miller Samuel, told Bloomberg the luxury unit’s series of price cuts doesn’t match the “relatively stable” activity in the high-end market.

“Murdoch is a polarizing figure,” Miller said of the former Fox News boss. “The market conditions don’t explain the lack of activity.”  

Murdoch, who declined to comment to the outlet through Compass, purchased the triplex and a smaller three-bedroom, 3,300-square-foot unit in the same building in 2014 for a combined $57.9 million.

Murdoch sold the smaller unit shortly after listing it. Despite asking for $16 million, Murdoch offloaded it for $12.5 million, which was also $2.5 million off what he paid to acquire it.

— Holden Walter-Warner

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