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The Ritz’s ‘Versailles in the sky’ finally sells at a 50% discount

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Financier Howard Marks listed the two-bedroom condo for $50 million in 2012

After no less than five years on the market, the Ritz-Carlton apartment of financier Howard Marks and his wife, Nancy, has finally sold at a steep discount. Marks listed the so-called “Versailles in the sky” for $50 million in July of 2012, an eye-popping figure for a two-bedroom apartment. After failing to sell, Marks relisted the apartment in 2015 with the same asking price, and again in April 2017 for the much reduced ask of $27 million.

That lowered price baited a buyer. The apartment sold for $25 million, public records show, to the anonymous Central Park South 50 Properties LLC. As for the Markses, they’re off to the 30-room co-op at 740 Park Avenue, for which they paid $52.5 million in 2012, at the time breaking a record for the city’s most expensive co-op.

The Markses purchased the 4,600-square-foot Ritz-Carlton spread for $18.875 million in 2007. They hired designer Michael Smith for a high-end renovation that brought in decorative elements that gave it the “Versailles-in-the-sky” descriptor: “hand-hammered German silver floors, Venetian plaster walls, 18th-century-style wood paneling by Feau & Cie, and an elegant chinoiserie wood-paneled library” are among its many fancy finishes.

50 Central Park South

50 Central Park South, New York, NY

Central Park

59th St to 110th St, New York, NY 10028 Visit Website