Sherry-Netherland’s penthouse gets another price cut, now wants $67M

The Sherry-Netherland’s sprawling 18th floor penthouse has been courting buyers for over three years now, but with no success. Now, the scandal-plagued billionaire owner of the apartment is trying his luck again with the latest price cut, and with a new brokerage team.

When we last wrote about the apartment in July 2017, the seven-bedroom, eight bathroom home was asking $78 million. At that time, Brown Harris Stevens was the broker on the property. In the subsequent months, the ask reduced to $68 million, but still no buyer came forward.

Now the owner Guo Wengui has brought on Douglas Elliman to sell the apartment for $67 million, which is less than the $67.5 million he paid for it back in 2015. At the time of that purchase, the penthouse had also been on the market for about three years. It first appeared on the market for a mind-boggling $95 million, but it was asking $85 million at the time that Guo purchased it.

Guo listed the penthouse not too long after purchasing it, for $86 million, and it has since only seen price reductions and changes in brokerage firms. Do you think the apartment will finally sell at its current asking price?

• Listing: 781 Fifth Avenue, 18FL [Douglas Elliman]