The sales rollercoaster that bedeviled Tommy Hilfiger’s penthouse at the landmark Plaza Hotel in New York City has come to a halt: The fashion designer has decided to keep the home for personal use, Mansion Global has learned.
It’s the latest turn in Mr. Hilfiger’s near decade-long effort to flip the duplex unit. The four-bedroom, five-bathroom apartment atop one of Manhattan’s most iconic buildings—think "Home Alone 2" and the "Eloise" children’s books—has yo-yoed on and off the market almost since Mr. Hilfiger bought on the place in 2008 for $25.5 million.
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But controversy plagued those early days of the Plaza condo unveiling–including a few nasty lawsuits against the building developers from unhappy buyers plus one of the worst housing collapses in U.S. history. The American fashion icon tried to unload the corner apartment amid the hoopla for $50 million just a few months after closing, according to listing records from the time
While the Plaza settled, won or let the assorted suits fade into history, Mr. Hilfiger, 66, and his wife, Dee Ocleppo, spent the post-Recession years having the interiors of their home designed with lavish finishes.
The apartment encompasses one of the building’s four domed cupolas—which the designer stripped to brick from the inside and turned into a provincial-looking breakfast nook. A shelf-lined office is richly painted in black varnish, and the living room has a Andy Warhol painting of Elizabeth Taylor.
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After the updates, the couple hiked the listing price to $80 million in 2013. It failed to sell and came off the market only to return against for $75 million; and then again for $68.95 million, according to listing records. The home was most recently listed in November for $58.9 million, only 18% more than pre-renovation price.
Listing agents Oren and Tal Alexander of Douglas Elliman did not immediately respond to a request for comment.