Published on: October 7, 2024, 08:43h.
Last updated on: October 7, 2024, 08:44h.
Billionaire Steve Wynn is attempting to sell his New York City penthouse but is facing challenges in finding a buyer. Despite reducing the asking price, the Central Park South penthouse remains the most expensive residential real estate listing in the United States.
Wynn listed his 10,875-square-foot penthouse located on the 30th and 31st floors of 50 Central Park South two years ago for $90 million. The 82-year-old developer of the Bellagio, Treasure Island, Mirage, Wynn, and Encore on the Las Vegas Strip recently reduced the price by $20 million.
Despite the price cut, Realtor.com identifies Wynn’s Manhattan residence on the top floors of the Ritz-Carlton Residences as this week’s most expensive private residential real estate listing.
Wynn is now aiming to break even on the three-bedroom, 4.5-bathroom unit that he purchased in 2012 for $70 million. Wynn’s NYC getaway boasts stunning views of Central Park, including from the spacious living room that previously functioned as the ballroom of the Hotel St. Moritz until it was transformed into a luxury hotel and condominium building operated by Ritz-Carlton in 2002.
Other notable features of the property include a 28-foot-long terrace, 15-foot ceilings, a gym and media room, a marble staircase, spa-like bathrooms, staff quarters, and a dedicated entrance.
Expensive Properties Slow to Sell
Following his departure from the U.S. commercial gaming industry amidst allegations of sexual misconduct with employees, claims that Wynn has consistently refuted, the Wynn Resorts founder turned to real estate investments. While he had some success in southern Florida, Wynn has faced challenges with his personal real estate holdings.
Wynn’s largest real estate asset is the mansion at 1210 Benedict Canyon Dr. in Beverly Hills. He acquired the property, spanning over 27,000 square feet with 11 bedrooms and 16 bathrooms, for $47.85 million in 2015.
Wynn attempted to sell the nearly three-acre compound for over three years. Initially listed at $125 million in April 2021, the price was gradually reduced to $65 million before Wynn decided to withdraw the property from the market in July.
Additionally, Wynn sold his Las Vegas mansion at 1717 Enclave Ct. in the “Billionaire’s Row” in TPC Summerlin for $17.5 million in 2022, a 29% discount from his original asking price of $24.5 million.
Political Supporter
Apart from his real estate endeavors, Wynn remains dedicated to backing Republican candidates.
In the current year, Wynn contributed over $1 million to super PACs focused on bolstering the GOP’s presence in Congress. He also supported House Majority Leader Steve Scalise’s reelection campaign with a donation of $582,000.
Recognized as a longtime associate of Donald Trump, Wynn donated $806,300 to Trump’s 2024 campaign. However, reports suggest that Wynn has urged Trump to shift his approach towards the upcoming election and concentrate on policy matters rather than engaging in personal attacks against his opponent.