Rupert Murdoch Hopes To Reap $72 Million For Madison Avenue Penthouse

By on August 17, 2015 in ArticlesCelebrity Homes

If you thought Rupert Murdoch, chairman and CEO of News Corp., made a big splash last year when buying a Madison Avenue penthouse for $57.2 million, then listen to this: He now wants to sell the property for $75 million.

The media uber mogul owns three floors, 58 to 60, at One Madison, a glass-walled residential skyscraper. The triplex has a modern and sleek style that is hard to surpass. And yes, from that height in the atmosphere, the views are killer, too. The 6,850 square-foot space is replete with new construction. Murdoch reportedly bought the three floors in a raw and unfinished state, and hired famed architect Jose Ramirez to design oversee construction of a stylish residence in it. Now that the work is completed, Murdoch has five bedrooms, a wraparound terrace and a double-height great room that features a spiral staircase. Oh yes, and the property has an internal elevator.

Let's talk about the views, accessible from almost anywhere in the property. Full glass external walls go far beyond what a picture window has to offer, and virtually let the outside come in.

Can Murdoch set a record for the highest price paid for a residence in lower Manhattan? Only time will tell, but at this point market conditions might be in his favor. New supplies of residences for sale recently stalled in the second quarter, while the time it takes to market and sell a property has fallen by two days on average, and the average sales price for a Manhattan residence has hit $1.8 million, according to Douglas Elliman Real Estate. Unloading the triplex would also help Murdoch consolidate his property holdings a bit. While construction on the triplex was going on, he lived in a three-bedroom condo, which he owns on a floor adjacent to the listed property. Apparently, Murdoch intends to hold onto that floor after selling the triplex, and he also owns a townhouse in the West Village, reportedly valued at $25 million.

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