Saudi tycoon slashes price of never-lived-in NYC penthouse by $64M — initially listed for $169M

Saudi retail magnate Fawaz Al Hokair has drastically slashed the price of his pristine 432 Park Ave. penthouse to a cool $105 million, The Post has learned.

This staggering reduction comes after nearly three years of trying to unload the opulent pad, originally listed for a higher $169 million.

Al Hokair, who scooped up the 8,200-square-foot residence in 2016 for $87.66 million, has never spent a single night in the Billionaires’ Row aerie, meaning it comes in mint condition.

(The home occupies 8,200 square feet.Douglas Elliman)

(The kitchen.Douglas Elliman)

Back then, his purchase was one of the highest-priced deals for a New York residence.

This listing comes at a time when another unit in the same building, No. 84A, recently sold at a significant loss, according to records filed with the city Department of Finance on Friday. An anonymous owner bought that unit for $21.38 million in 2016, but unloaded it for $13.5 million.

Boasting six bedrooms and soaring 12.5-foot ceilings, Al Hokair’s posh penthouse has a private elevator landing that opens into an expansive great room.

(The breakfast bar.Douglas Elliman)

(The breakfast room.Douglas Elliman)

(The formal dining space.Douglas Elliman)

(The living room with a woodburning fireplace.Douglas Elliman)

(One of six bedrooms.Douglas Elliman)

(Another bedroom.Douglas Elliman)

(The ensuite bathroom. Douglas Elliman)

(A deep soaking tub with park views.Douglas Elliman)

Despite the price cut, Al Hokair’s penthouse remains one of the priciest properties in the city, though it wouldn’t hold a record if it were to sell for its current price.

Ref: Saudi tycoon slashes price of never-lived-in NYC penthouse by $64M — initially listed for $169M (nypost) Photo Credit: Douglas Elliman