Tommy Hilfiger Lists NY Penthouse for $80 Million

Tommy Hilfiger Lists NY Penthouse for $80 Million

Residential News » Celebrity Property | By WPC Celebrity Team | October 24, 2013 1:17 PM ET

The ultimate Tommy Hilfiger accessory is up for grabs. The price tag: $80 million. 

The fashion mogul has listed his duplex penthouse atop the iconic Plaza in Manhattan, which could become the second-most expensive condo sold in New York.

The four-bedroom, five-bath penthouse takes up the 18th and 19th floors of the Plaza, stretching more than 6,000 square feet, including the hotel's dome. 

"This is a prewar building, it's an iconic building, it has a big terrace and its views are permanently unobstructed," Dolly Lenz, head of Dolly Lenz Real Estate LLC, the broker for the property, told Bloomberg. "There's nothing else, I think, that's comparable to this currently on the market."

The property offers private terrace views of Central Park and Fifth Avenue and includes an original "Eloise" mural by Hilary Knight. 

If sold at the asking price, it would far surpass the $48 million record paid for a condo at the Plaza, according to Bloomberg. It would be among the most expensive sales in the city but would fall short of the current record. 

"There have been a handful of transactions in this price range," Jonathan Miller, the president of New York-based appraisal firm Miller Samuel Inc. told Bloomberg. "It's almost a herd mentality at the high end of the market that emboldens people to put properties on at these kinds of numbers."

The city's current record is the $88 million deal for a penthouse at 15 Central Park West. High-priced contracts have also been signed for Midtown apartments -- $90 million for units in the One57 and 432 Park Ave. projects, Bloomberg reports. 

Mr. Hilfiger -- founder and designer of Tommy Hilfiger -- and his wife Dee purchased the property in 2008 for $25 million and tried selling it for $50 million shortly after. They removed the listing amid the financial crisis and instead spent more than $17 million renovating and combined two units into one. 

"I wanted to bring back the original vision of The Plaza," Mr. Hilfiger told CNBC, "to what it was during Truman Capote's Black and White Ball ... that old-world charm, with the original detail and glamour."

The couple plans to spend more time in their 22-acre estate in Greenwich, Connecticut. With a recovering market, Mr. Hilfiger feels now is the right time to sell. 

"I think it may be the strongest market in the world right now," he told CNBC. "Everyone in the world, whether they're from Qatar or China, wants a luxury apartment in New York."

Video: CNBC Report on Tommy Hilfiger's Penthouse

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