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.

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

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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 great room includes two powder rooms and a library with a woodburning fireplace. Nearby, the chef’s kitchen dazzles with top-of-the-line appliances, a center island, custom cabinetry, a breakfast room and a marble coffee bar with views of Central Park.

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Meanwhile, the corner primary suite also has panoramic views of Central Park. It features a sitting room, two custom-built dressing rooms and two windowed marble bathrooms.

Amenities inside the tower include a private restaurant and a fitness center with a yoga studio. Others include a 75-foot indoor pool, steam and sauna facilities, a billiards room, a business center and a children’s playroom.

Lila Nejad and Noble Black at Douglas Elliman hold the listing. The residence was previously represented by other brokerages.

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“The Penthouse on the 96th Floor at 432 Park Avenue represents the epitome of luxury, exclusivity and is truly one of a kind in the marketplace,” Nejad told The Post.

“We are incredibly excited to bring this property to market at a price in line with such a rare offering,” added Black.

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.

That honor goes to hedge fund titan Ken Griffin, whose 2019 purchase at nearby 220 Central Park South came in at a staggering $238 million.

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