Is Media Tycoon Rupert Murdoch Running Away from New York City?
Edited by: TJVNews.com
Now that the luxury real estate market has picked up in New York City and beyond, it appears that media tycoon Rupert Murdoch is listing two of his ultra-posh pads at New York’s One Madison condo tower for a total of $78 million, according to a recent article in the Wall Street Journal.
The WSJ reported that Deborah Grubman, the listing agent of the Corcoran Group said that one of Murdoch’s luxury apartments is selling at $62 million. It is located in the Flatiron District of Manhattan and overlooks Madison Square Park. The pad spans the 58, 59th and 60th floors of the condominium tower and is a triplex penthouse measuring about 7,000 square feet. Also placed on the market by Murdoch is a smaller apartment in the same building in which he is asking $16 million, according to the WSJ report.
Records indicate that the Australian born Murdoch in 2014 shelled out approximately $59.9 million for the two spacious apartments, as was reported by the WSJ. Grubman, of the Corcoran Group told the WSJ that Murdoch built out the triplex to his own specifications upon purchasing it.
While contractors were working on the triplex, the WSJ reported that he lived in the 57th floor, 3300 square foot apartment. Subsequent to the work done on the triplex and having moved into it, Murdoch used the smaller apartment for his guests and staff members. Grubman told the WSJ that with the building’s approval, the two apartments could be combined.
The triplex includes 360-degree views of the World Trade Center, the Empire State Building as well as the East River and the Hudson River as well as having floor-to-ceiling windows. It also has a primary suite, a staff room and five bedrooms.
Grubman told the WSJ that: “You see every iconic building practically, and on a clear day you can see the ocean.”
There are 20-foot-high ceilings in the great room and the triplex boasts a roughly 590-square-foot wraparound terrace, according to the WSJ report. Moreover, an elevator serves all three floors and a curved glass staircase leads to the second level, according to the WSJ report.
Grubman told the WSJ that Murdoch thinks it is a good time to sell his apartments but chose not to offer specific reasons as to why he is selling through a spokesman.
The question remains as to why Murdoch is leaving New York City even though he has owned various properties in the Big Apple over the decades.
The listing agent for the Corcoran Group told the WSJ, there continues to be strong demand especially for trophy properties. “He thinks it is a good market,” she added.
Back in 2015, Murdoch had briefly listed the triplex penthouse for $72 million but decided against selling it
During the coronavirus pandemic, the luxury real estate market in New York remained stagnant but since the ease of pandemic restrictions has been implemented, the market has picked up significantly.
Real estate appraisal firm Miller Samuel told the WSJ that in the fourth quarter of 2021, the number of luxury sales in Manhattan rose 87.4% year-over-year and 48.6% from 2019’s fourth quarter.
The firm added that the median sales price in the luxury market was flat year-over-year, but 16.67% higher than 2019’s fourth quarter.
Murdoch is the executive chairman of News Corp and is also the owner of hundreds of local, national, and international publishing outlets around the world, including in the UK (The Sun and The Times), in Australia (The Daily Telegraph, Herald Sun and The Australian), in the US (The Wall Street Journal and the New York Post), book publisher HarperCollins, and the television broadcasting channels Sky News Australia and Fox News (through the Fox Corporation), according to a Wikipedia report. He was also the owner of Sky (until 2018), 21st Century Fox (until 2019), and the now-defunct News of the World. With a net worth of US$21.7 billion as of March 2, 2022, Murdoch is the 31st richest person in the United States and the 71st richest in the world, as was reported by Wikipedia.
The WSJ reported that Murdoch and his model-wife Jerry Hall (former girlfriend and mother to four children of Rolling Stones frontman Mick Jagger) bought a Montana cattle ranch spanning about 340,000 acres near Yellowstone National Park from Matador Cattle Co., a subsidiary of Koch Industries. The purchase price was about $200 million, making it the largest ranch sale in Montana history, as indicated in the report.
The Murdoch family also owns a roughly 25,000-acre sheep and cattle farm in Australia and a ranch in California, according to the WSJ report. In 2013, Murdoch purchased an estate and winery in Los Angeles’s Bel-Air neighborhood.
Mr. Murdoch is the executive chairman of News Corp, which owns The Wall Street Journal’s publisher. Last year, he and his wife, Jerry Murdoch, purchased a Montana cattle ranch spanning about 340,000 acres near Yellowstone National Park from Matador Cattle Co., a subsidiary of Koch Industries, The Wall Street Journal reported. The purchase price was about $200 million, making it the largest ranch sale in Montana history.
The Murdoch family also owns a ranch in California and a roughly 25,000-acre sheep and cattle farm in Mr. Murdoch’s native Australia. In 2013, Mr. Murdoch purchased an estate and winery in Los Angeles’s Bel-Air neighborhood.