Rupert Murdoch, the media mogul, has significantly reduced the price of his penthouse apartment in New York in an attempt to attract buyers. The 7,000 sq ft triplex penthouse located in the Flatiron District of Manhattan was initially listed for sale in 2022 at $62 million. However, after struggling to find a buyer, the price has been slashed to $28.5 million, less than half of its original asking price.

The property, spanning the 58th to 60th floors of the One Madison building, features five bedrooms, six bathrooms, a spiral staircase, private lift, staff room, and a 586 sq ft terrace. Built to Mr. Murdoch’s specifications, the penthouse offers panoramic views of iconic landmarks such as the Empire State Building and the One World Trade Center.

New York’s property market has experienced a slowdown in sales due to rising interest rates, impacting affluent buyers. Despite being viewed by around a dozen potential buyers, including five billionaires, the penthouse has struggled to secure a sale. The recent price reduction is aimed at generating more interest and potentially sparking competitive bidding.

Monthly fees for the building exceed $16,000 and cover amenities like a full-time doorman, concierge services, a gym complex with an indoor pool, and a steam room. Mr. Murdoch, who purchased the penthouse for just under $58 million a decade ago, also owns a smaller apartment in the same building.

This development comes after Mr. Murdoch, aged 93, tied the knot for the fifth time with Elena Zhukova, a 67-year-old retired molecular biologist, at his vineyard in California. The marriage followed the end of his engagement to Ann Lesley Smith, a 67-year-old conservative radio host.