Steve Wynn’s New York City Penthouse Most Expensive Home on Real Estate Market

Posted on: October 7, 2024, 08:43h. 

Last updated on: October 14, 2024, 01:26h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Billionaire Steve Wynn is trying to unload his New York City penthouse but is struggling to find a buyer. Despite lowering the asking price, the Central Park South pad remains the priciest residential real estate listing in the United States.

Steve Wynn New York City Central Park penthouse
The terrace of Steve Wynn’s New York City penthouse overlooking Central Park is on the market for $70 million. The current asking price reflects a $20 million discount. (Image: Realtor.com)

Wynn listed his 10,875-square-foot penthouse located on the 30th and 31st floors of 50 Central Park South two years ago for $90 million. The 82-year-old developer of the Bellagio, Treasure Island, Mirage, Wynn, and Encore on the Las Vegas Strip recently lowered the price by $20 million.

Regardless of the asking cut, Realtor.com says Wynn’s Manhattan abode on the top floors of the Ritz-Carlton Residences remains this week’s priciest private residential real estate listing.

Wynn is now looking to break even on the three-bed, 4.5-bath unit that he bought in 2012 for $70 million. Wynn’s NYC hangout has breathtaking views of Central Park, including from the massive living room that served as the ballroom of the Hotel St. Moritz until the property was renovated in 2002 into a luxury hotel and condominium building operated by Ritz-Carlton.

Other property highlights include a 28-foot-long terrace, 15-foot ceilings, a gym and media room, a marble staircase, spa-like bathrooms, staff quarters, and a dedicated entrance.

Steve Wynn New York City Central Park penthouse
(Image: Realtor.com)

Pricey Pads Not Moving 

Since exiting the US commercial gaming industry in controversy more than a half-decade ago over allegations of sexual misconduct with his employees — claims that Wynn has consistently denied — the Wynn Resorts founder and longtime chairman and CEO turned to flipping real estate to keep himself busy. Wynn found some success in southeast Florida, turning two beachfront properties for a profit.

However, Wynn’s personal real estate hasn’t been the winning bet that he had hoped.

The casino magnate’s most expensive real estate holding is 1210 Benedict Canyon Dr. in Beverly Hills. Wynn bought the mansion measuring over 27K square feet with 11 bedrooms and 16 baths in 2015 for $47.85 million.

Wynn had been trying to sell the nearly three-acre compound for more than three years. Wynn listed 1210 Benedict Canyon Dr. in April 2021 for $125 million. After no buyer was found, Wynn slashed the price to $115 million, then to $100 million, then to $85 million, then to $75 million, and then to $65 million before taking the house off the market in July.

Wynn also got much less than he had hoped for his Las Vegas mansion. Located in the so-called “Billionaire’s Row” in the TPC Summerlin gated community, Wynn took $17.5 million for 1717 Enclave Ct. in 2022, a 29% discount from the $24.5 million he originally wanted for the mansion.

Political Backer 

In addition to his real estate focus, Wynn remains committed to electing Republicans.

This year, Wynn gave more than $1 million to super PACs working to protect and grow the GOP majority in the House and increase the party’s seats in the Senate. Wynn also contributed $582K to House Majority Leader Steve Scalise’s (R-Louisiana) reelection bid.

A longtime friend of Donald Trump, Wynn gave $806,300 to Trump’s 2024 campaign in March. However, Wynn is reportedly frustrated with how Trump is mounting his challenge to defeat Vice President Kamala Harris. Wynn is said to have told Trump to tone down his rhetoric and focus on the issues,  engage in personal attacks against his November 5 foe.