Wilbur Ross, U.S. Secretary of Commerce, Sells Penthouse at a Loss

Wilbur Ross, the U.S. secretary of commerce, has officially closed on his midtown Manhattan penthouse for a little over $2 million less than what he paid for it, according to property records filed last month.

Mr. Ross, 79, who was sworn into office in February, sold the four-bedroom condo for $15.95 million. He bought it from real estate entrepreneur Andrew Farkas in 2007 through a limited liability company, for $18 million, records show.

The duplex first hit the market in 2015 with Sotheby’s International Realty for $21 million. But it failed to sell, even when the price was reduced to $18.5 million, according to listing records. He relisted the home in March with Corcoran agent Carrie Chiang for $16.5 million. Ms. Chiang declined to comment.

The buyer of the 57th street property used an LLC linked to the Oklahoma-based Arnall Family Foundation, a nonprofit founded by Sue Ann Arnall, the ex-wife of billionaire oil tycoon Harold Hamm. The same LLC also bought an Upper West Side townhouse in 2016 for $9.5 million, records show. A representative for the Arnall Family Foundation did not immediately return requests for comment.

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.

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Last December, Mr. Ross spent $12 million on a Beaux-Arts mansion in the Washington, D.C., neighborhood of Massachusetts Avenue Heights. He and his wife also own multimillion-dollar estates in Southampton, New York, and Palm Beach, Florida, according to reports.

A representative for Mr. Ross did not immediately respond to requests for comment.

The Real Deal first reported the sale.