Steve Wynn cuts the asking price of his grand LA mansion

Real Estate

By Mary K. Jacob

Las Vegas casino mogul Steve Wynn is having a tough time selling his multimillion-dollar homes across the United States.

Wynn’s New York City pied-à-terre, a lavish Central Park South penthouse spanning nearly 11,000 square feet, for instance, has hit a stumbling block.

Despite a price slash from an initial $90 million to $65 million last year, the casino czar has withdrawn the property from the market.

Notably, this final price was $5 million less than what Wynn paid for the opulent duplex in 2012.

The residence, located on the 30th and 31st floors of the Ritz-Carlton New York, Central Park, boasts three bedrooms, and stunning views of the park and the Manhattan skyline.

Originally aimed to fetch $90 million in 2022, the sale at that price would have set a record as the most expensive ever seen in the building.

The duplex includes a dining room opening to a 28-foot-long terrace, a media room, a library and a wet bar.

Past residents of the building include billionaires Larry Ellison and Sidney Kimmel.

Wynn’s struggles most recently extend to the West Coast, where his expansive Beverly Hills estate faces challenges in the luxury property market.

The 11-bedroom, 16-bathroom mansion at 1210 Benedict Canyon Drive has been on and off the market for a few years.

As of Jan. 17, its price dropped by about 12%, currently listed for $75 million.

Last year, it asked $85 million, significantly down from its initial off-market asking price of $135 million in 2020.

This follows a tough year for LA’s luxury home market, where sellers have been advised to reduce prices.

Wynn’s Beverly Hills estate, situated on 2.7 acres, offers amenities such as a championship tennis court and a resort-style gym.

Despite the hurdles in offloading his New York City and Beverly Hills residences, Wynn successfully sold his Las Vegas mansion for $17.5 million in 2022.