Maybe Washington, D.C. will treat newly minted U.S. Commerce Secretary Wilbur Ross a little better than the Manhattan real estate market.
Mr. Ross, 79, is taking a $1.5 million loss on a posh penthouse he owns with his wife, Hilary Geary Ross, in the Briarcliff, a luxury condo building on Billionaires’ Row, in Manhattan (a.k.a. 57th Street). He’s selling the four-bedroom unit, which he bought in 2007—at a peak in the market—for $18 million, according to property records, for only $16.5 million.
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The home first hit the market in 2015 with Sotheby’s International Realty for $21 million. But the home failed to sell, even when the price was reduced to $18.5 million, according to listing records.
He relisted the home last week with Corcoran agent Carrie Chiang for $16.5 million. Ms. Chiang did not immediately return a request for comment.
Mr. Ross’s penthouse sits in one of the most prestigious buildings in Midtown Manhattan. He bought the unit from billionaire financier Andrew Farkas, and other high-profile building residents include Greek shipping executive Spiros Milonas, according to property records.
Mr. Ross’s unit is far and away the most expensive in the building, where apartments typically trade hands for between $2 million and $4 million, property records show.
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The duplex penthouse has five-and-a-half bathrooms and a vaulted living room ceiling that hits over 19 feet, according to the listing, which also describes the apartment as "European style." The 5,570-square-foot home boasts state-of-the-art HVAC and lighting systems, which would help accommodate a top art collection, according to the listing.
Indeed, Mr. Ross has a number of surrealist artworks hanging in the entryway of the penthouse, including what look like two paintings by René Magritte and a photo on the table of the same artist painting "La Clairvoyance."
The potential loss on his Manhattan home didn’t discourage Mr. Ross from dropping millions his new home in Washington, D.C. He bought a Beaux-Arts mansion in Massachusetts Avenue Heights for $12 million in December. He and his wife also own multimillion-dollar estates in Southampton, New York, and Palm Beach, Florida.
Mr. Ross could not immediately be reached for comment.