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Gucci's Colorful Fifth Avenue Penthouse Drops Asking Price by $10M

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The Italian fashion family's palatial residence is now only $35 million

The Gucci sisters first listed the fashionable family's palatial Fifth Avenue penthouse, located atop the Olympic Tower, last summer with a $45 million asking price. But no one bit at that price (wonder why?), and so the unit was re-listed today with a $10 million pricechop—it's now asking $35 million, as first reported by the New York Post.

The 9,450-square-foot apartment was created from two smaller units by Maurizio Gucci, and is currently owned by his daughters, Alessandra and Allegra Gucci. New listings photos offer a peek inside the stylish digs, including one of its eight bedrooms and a shower stall with views of the Empire State Building (of course).

But little else has changed; it still has the same décor, a combination of sleek midcentury modern (so many lucite chairs!) and colorful accents that you'd expect from the Italian fashion house. The views are pretty stellar, too. But is that enough to fetch $35 million? We'll have to wait and see.

Olympic Tower

645 5th Avenue, Manhattan, NY 10022