A triplex penthouse at The Plaza Hotel, located on Central Park South, came back onto the market Monday with a new brokerage, this time asking $39.75 million—a price chop of $3.75 million.
According to property listing history, the unit, PH-2009, first hit the market for $59 million in June 2013 and saw its price lowered to $49.95 million in 2015, then again last year to $43.5 million, switching brokers from Brown Harris Stevens to Douglas Elliman. Now, the listing is with Sotheby’s International Realty.
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The unit was the epicenter of a lawsuit between "an unhappy buyer" and the building’s developers. The buyer, Penthouse 2009 Inc., bought the triplex apartment off its floor plan for $39.5 million in 2007.
After the historic Plaza Hotel reopened— mostly as condos—in 2008 after a three-year renovation, the buyer, who was identified as Russian hedge-fund manager and former deputy finance minister Andrei Vavilov, saw the finished apartment and decided that "the design and construction of the apartments were not in accordance with the representations" made to him, according to court papers.
In November 2008, they sued the developers of The Plaza—Plaza Residential Owner LP, CPS 1 Realty LP and El-Ad Properties NY LLC, and the penthouse gained a lot of attention.
In 2012, Christian P. Candy, a British luxury real estate developer who co-developed One Hyde Park in London, bought the property for $25.9 million, according to public records. A request for comment sent to his firm in London wasn’t immediately answered.
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Located on the top three floors of The Plaza Hotel, the 6,200-square-foot penthouse includes four bedrooms and five-and-a-half bathrooms. With views of Central Park and the Manhattan skyline, the apartment "lends itself to the feeling of a private home and/or townhouse," according to its listing.
The entertaining level features a living room, a formal dining room, an eat-in kitchen, a media room with a gas fireplace and an office. Upstairs, the master suite occupies an entire floor, featuring a terrace overlooking Central Park, a sitting area and two bathrooms. Downstairs from the main entertaining level, there are three bedrooms with three full en-suite bathrooms.
Residents have access to the building’s five-star hotel amenities, including room service from the Todd English Food Hall, The Palm Court and The Rose Club.
Listing agents at Sotheby’s International Realty declined to comment on the apartment.