The Central Park Tower penthouse, developed by Extell and Shanghai Municipal Investment, initially asked $250 million. The property is currently the tallest residence in the world.

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A penthouse perched atop Billionaires’ Row that once asked $250 million has come back down to reality with a hefty price cut, Bloomberg reported on Wednesday.

The three-story unit in Central Park Tower made a splash when it came to market last September because it easily became the most expensive home for sale in the country. One year later, however, the condo has failed to secure a sale, and the asking price has now been cut by about 22 percent, or $55 million, to $195 million.

A 14th floor outdoor amenity space in Central Park Tower | Extell Development

Even with a massive $55 million price cut, the property remains one of the most expensive homes for sale in the U.S. right now. But that price cut also means that it no longer has much of a chance of exceeding the priciest residential transaction to have ever closed in the country — hedge funder Ken Griffin’s $238 million purchase of a penthouse at the neighboring 220 Central Park South in 2019.

The Central Park Tower penthouse, which is being repped by SERHANT., spans the building’s 129th through 131st floors across 17,545 square feet of space. The unit is 1,416 feet tall, making it the tallest residential building in the world, for now, at least. A forthcoming luxury tower in Dubai is slated to surpass Central Park Tower in height once it comes to fruition.

Central Park Tower was developed by Extell and Shanghai Municipal Investment and also features a 100th-floor private club for residents. Views from the club feature the Empire State Building, the Statue of Liberty, Brooklyn, New Jersey and, of course, Manhattan.

The penthouse unit at Central Park Tower | StreetEasy

Ryan Serhant, one of the penthouse’s listing agents, told the New York Post that the unit is “above noise.”

“When you are on the terrace, you hear nothing — maybe an airplane, but that’s it. You are above sound. It’s so serene. It is magical.”

The condo also features about 1,400 square feet of outdoor terrace space, two kitchens, two ballrooms, several living and entertainment spaces, a media room and a separate service entrance.

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Email Lillian Dickerson

Ryan Serhant
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