Billionaire Rupert Murdoch is taking an L on a Manhattan penthouse, slashing the asking price nearly 40% to $38.5 million [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
just in a very different way from young, aspiring homebuyers who can't afford to break into a housing market riddled with high mortgage rates and home prices. Indeed, Murdoch's Manhattan penthouse was listed at such a high price, that he and his agent have had to cut the price by nearly 40% from $62 million to $38.5 million. “The revised price reflects current realities and is closer to where the market values the residence,” Kyle Blackmon, head of luxury sales at Compass , tells Fortune. Murdoch did not respond to requests for comment. The triplex was first listed by the News Corp. chairman emeritus for $62 million in 2022, and has since endured multiple price cuts. At the current list price, Murdoch will take a loss on the property, since he purchased it for $57.9 million in 2014, according to a Wall Street Journal report . For comparison, the average home price in Manhattan is about $1 million, according to Redfin's most recent data . Murdoch (and his family) have an estimate
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