Over-the-top Plaza apartment 'inspired by Chanel' seeks $25M

Back in 2014, insurance mogul Barry Kaye and his wife, Carole, listed their three-bedroom apartment within the Plaza Hotel for a staggering $49.5 million—a price that, even in the heady days of 2014, was perhaps a bit too ambitious. It got a series of price cuts in short order, going first to $35 million in 2015, and then $29.5 million in 2016.

And now, the place is back at its lowest price yet (though it’s still not, you know, low): It re-listed today with Corcoran for $25 million, which is slightly more in line with similar units within the Plaza (the so-called “Astor Suite,” also a three-bedroom, is going for $34.5 million—but it’s also been on the market for nearly a year).

The Kayes bought the place in 2008 for $13.6 million, so why the price jump? According to the listing, it was inspired by Chanel (sure), and “tastefully designed” by interiors expert Jeffrey Hitchcock, who took a bit of a maximalist approach. There’s a breakfast nook with “red-lacquered boiserie frames,” a living room with Venetian plaster walls and “a Deco cream and black theme,” and a master bathroom “inspired by Alberto Pinto [with] white onyx floor with black lacquer cabinets, all in the French Deco style.” Phew.

In a practical sense, it means that there are a lot of fancy finishes in the place, along with a wall of windows fronting Central Park. The living room is positively huge, with 13-foot ceilings, and each bedroom is en-suite (and the master suite has two walk-in closets and two-bathrooms).

• Listing: 1 Central Park South #301 [Corcoran]