business
Steve Wynn relists New York penthouse for $70 million after prior price cuts
The property returns to the market at the same price paid in 2012. A Beverly Hills residence listed at the same time went under contract for its original purchase price.
Jul 7, 1:00 PM·1m read1 source
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Steve Wynn has relisted a duplex at the Ritz-Carlton on Central Park South for $70 million. The unit was purchased for that amount in 2012, listed at $90 million in December 2022, reduced to $65 million, withdrawn in early 2024, and now returns at the original price.
The New York residence measures nearly 11,000 square feet and includes three bedrooms, four full baths, two half baths, a library, a media room, and a terrace facing the park. Annual carrying costs total $565,000.
California property A 27,000-square-foot Beverly Hills residence known as Villa Lulu went under contract for roughly $50 million at the end of June. Wynn bought the 11-bedroom property in 2015 for $47.9 million. The California home had previously been listed as high as $135 million before successive reductions brought the price to the current level.
Background Wynn, 84, is listed by Forbes as having a net worth of $3.9 billion.
He left the casino industry in 2018 following sexual-misconduct accusations that he has denied. Deborah Grubman of the Corcoran Group, which shares the New York listing with Sotheby’s International Realty, said the current price reflects the property’s size, views, and comparable sales.
