Time Warner Center penthouse returns seeking 62% less than original ask

The trapezoidal apartment was asking $42.5 million back in 2014—but no more

By Amy Plitt@plitter Apr 11, 2017, 9:59am EDT

No one, it seems, wants the duplex penthouse situated on the 54th floor of Midtown’s Time Warner Center. Despite the fact that the pad no longer has its slightly sterile all-white interiors, the place has sat on the market for just about three years now. The owner, “self-made millionaire” Cheryl Mercuris, seems to have gotten the message: The apartment, originally listed for $42.5 million back in 2014, has now gotten yet another price chop—this time, it’s going for $16 million.

For those keeping score, that means the home has been reduced by $26 million, or just about 62 percent … which means this apartment now has the dubious honor of entering the PriceChopper Hall of Fame. Welcome to the club, overpriced penthouse!

Mercuris bought two apartments in 2004 and 2008 for $11 million, combining them to create this penthouse, so even if it sells she may still turn a profit—but still, a 62 percent discount is harsh.

This time around, the property is on its third broker—Ryan Serhant of Nest Seekers International is taking a crack at it—but other than that, little has changed. The place still has the same odd, trapezoidal floorplan as before, with the master bedroom separated from the rest of the apartment by a spiral staircase. There are four bedrooms, four bathrooms (including a spa-like master bath), a chef’s kitchen, and floor-to-ceiling windows throughout.

The listing also still boasts the same “captivating” views as before, and indeed, the view from the master bedroom is quite lovely. But—and we’ve asked this question before—is it $16 million worth of lovely?