Casino billionaire Steve Wynn placed his 10,875-square-foot duplex penthouse atop 50 Central Park South under contract in November 2026, closing out a punishing four-year campaign to offload one of Manhattan’s grandest private aeries. The home entered contract against an asking price of $70 million. That figure matches what Wynn paid for the property 14 years earlier in 2012.
Wynn will walk away without a dollar of capital appreciation. The deal ends a protracted standoff with luxury buyers that saw Wynn test the market as high as $90 million before pulling the listing, slashing its price, and relisting it three separate times. The identity of the buyer and the final settled sum remain shielded behind closing disclosures.
Carved out of the 30th and 31st floors of the Ritz-Carlton Residences, the home occupies the former crown of the Hotel St. Moritz, an Emery Roth-designed tower erected in 1930. Developer Christopher M. Jeffries of Millennium Partners purchased the 36-story property in 1999 alongside the Ritz-Carlton Hotel Co., turning the top 12 floors into just 11 ultra-exclusive condominiums while operating the lower tiers as a luxury hotel. Wynn acquired the trophy duplex directly from Jeffries in 2012.
Park greenery dominates the interior. A 45-foot private terrace hangs directly over the tree line, framed alongside a separate 28-foot western terrace. Inside, 15-foot coffered ceilings rise over 10 arched picture windows, anchored by a marble staircase and a soaring grand salon that once served as the St. Moritz hotel ballroom. The layout includes a chef's kitchen, breakfast room, library, staff quarters, private gym, and a dedicated massage room.
| Property Parameter | Architectural & Financial Specification |
|---|---|
| Address | 50 Central Park South, Floors 30 & 31, New York |
| Interior Footprint | 10,875 square feet |
| Terrace Dimensions | 45-foot north park terrace; 28-foot western terrace |
| Room Layout | 3 Bedrooms, 4 Full Bathrooms, 2 Powder Rooms |
| Wynn Purchase Price (2012) | $70,000,000 |
| Initial Asking Price (2022) | $90,000,000 |
| Contract Asking Price (2026) | $70,000,000 |
| Monthly Carrying Dues |
Wynn first launched the duplex onto the market in 2022 demanding $90 million. Buyers balked. In 2023, he chopped the ask to $65 million before abruptly pulling the listing by year's end. He re-emerged in 2024 asking $70 million, retreated again in 2025, and hoisted the $70 million flag back up in June 2026.
The math proved tricky for ultra-wealthy purchasers. Despite sprawling across nearly 11,000 square feet, the penthouse holds only three bedrooms.
Luxury market broker Michael Reisor pointed to that spatial tradeoff as a persistent psychological barrier for bidders roaming the $70 million tier.
Properties like this are wonderful but specific, with a limited buyer pool. Buyers often want the sense of abundance that comes with extra bedrooms, even if they never use them.
Michael Reisor, Luxury Property Specialist
Condo status saved the deal. Unlike legacy Manhattan co-ops that subject billionaire purchasers to invasive board interviews and liquid-asset audits, 50 Central Park South operates as a condominium. That structure cleared a friction-free runway for institutional or foreign capital. Residents simultaneously secure full hotel amenities, tapping the building's La Prairie spa, health club, Contour lounge, and private in-room housekeeping.
The purchase contract now moves to legal closing, with title filings at the New York City Department of Finance set to unmask the final transaction figure and the buyer's corporate shell in the coming weeks.
| $31,362 (Common charges) + $15,500 (Taxes) |
| Building Type | Prewar Condominium (11 private residences) |