Five years and one hefty price chop later, a palatial spread at the Ritz-Carlton on Central Park South has finally found a buyer. The two-bedroom pad, owned by financier Howard Marks and his wife Nancy, is now in contract, per Olshan’s weekly luxury market report. Though it was once priced at an ambitious $50 million, the asking price at the time it entered contract was $27.5 million. Update: The Post reports the apartment sold for $25 million, half off of its ambitious original asking price.
The apartment has been on and off the market since 2012, after the Markses bought a co-op at 740 Park Avenue for a record-breaking $52 million. The original asking price of $50 million proved to be too rich for buyers’ blood, and unsurprisingly, it didn’t sell—not in 2012, and not in 2015. But a 50 percent discount earlier this year seems to have done the trick.
The apartment itself was revamped by interior designer Michael Smith (who decorated parts of the White House for the Obama family), and it tries hard to live up to the Versailles nickname; as we previously reported, it features “hand-hammered German silver floors, Venetian plaster walls, 18th-century-style wood paneling by Feau & Cie, and an elegant chinoiserie wood-paneled library.” It has two bedrooms, 3.5 bathrooms, a private elevator, and full-on views of Central Park.