The penthouse of New York City’s Pierre Hotel hit the market for a record$US125 million in late April 2013.
But the property, which belonged to late investor Martin Zweig, has yet to find a buyer. The price was just slashed nearly in half to $US63 million, half its initial asking price, reports the Wall Street Journal.
Zweig initially listed the apartment for $US70 million in 2007 but later pulled the listing; he died in February 2013.
The apartment encompasses three floors and was originally the hotel’s ballroom.
The Pierre, located on 61st Street and Central Park, is one of the most iconic properties in New York City.
It formerly housed the famous hotel's ballroom, and 'the living room is considered the most magnificent privately owned room in the world,' according to the original listing.
Even if it sells for the reduced price, it will still be one of the most magnificent private residences in New York City.
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