Baccarat penthouse returns for $40M less than two years after selling

Less than a year and a half after finally landing a buyer, the palatial penthouse of the Baccarat Hotel & Residences on West 53rd Street has returned to the market. The penthouse is asking $39.995 million, meaning its owner—an anonymous LLC, of course—is willing to take a loss.

The 7,381-square-foot spread sold to 20 West 53rd Street LLC in June 2016 for $42.55 million. Leading up to its sale the apartment had been on the market for over three years, with an ambitious asking price set at $60 million, then reduced to $54 million.

The five-bedroom, five and a half bathroom penthouse covers the 48th and 49th floors of 20 West 53rd Street. The penthouse comes with a 600-square-foot loggia, a 1,150-square-foot master suit, and a centerpiece floating glass and marble staircase. The penthouse was restaged in February 2016, shortly before undergoing its first and only price chop before it first sold.

The listing is with Halstead Property’s Dine Scheinman.

• Listing: 20 West 53rd Street PH [Halstead via StreetEasy]
• Baccarat’s Crystal-Bedecked Penthouse Finally Sells After 3 Years [Curbed]
• The Baccarat’s Extravagant Penthouse Sold For $17M Less Than Its Original Ask [Curbed]
• All Baccarat Hotel & Residences coverage [Curbed]