Richard Perry wants $26M for his NYC penthouse

Hedge-funder and former Barney’s chairman Richard Perry, and his fashion designer wife Lisa, are once again attempting to sell their sprawling penthouse at 1 Sutton Place South. 

The $26 million listing, which re-emerged this week, marks the Perrys’ fourth attempt at selling the historic co-op and a steep discount from their initial $45 million ask in 2020. They purchased it for $10.9 million in 2000.

The 14-room residence overlooking the East River boasts a massive wraparound terrace, soaring ceilings and a long legacy of socialite inhabitants, one of whom referred to it as “the most magnificent in New York City.”

The palatial pad spans a full floor atop the iconic cooperative building, long recognized for its ritzy residents and fiercely selective co-op board.

The Perrys’ tenure in the home has clearly left a mark — the co-op unit’s 18th-century gold and ivory door frames cited by the New York Times in 1998 have been supplanted by Gallery-like walls and sleek, modernist fixtures.

Richard is known for his now-defunct hedge fund, Perry Capital, which shuttered in 2016 after Perry lost a fortune attempting to save the luxury department store Barneys. He is reportedly making a comeback this year with a new firm.

His wife, Lisa, is known for her mod-meets-modern fashion designs and luxury home flips, which have included properties in Palm Beach and the Hamptons.

Neither Richard nor Lisa could be reached for comment on this listing.

The residence has bounced on and off the market since 2020, according to StreetEasy. Over the years, and while being represented by a small handful of brokerages, it has seen its price also hover at $37.5 million.

The 13-story limestone and red-brick building was built, in part, in the 1920s by prolific architect Rosario Candela, whose 20th-century apartment building designs reshaped the New York City skyline. Sutton Place South remains particularly famous for its intensely exclusive co-op board and roster of well-heeled residents, from Sigourney Weaver to Maria Cuomo Cole.

Commissioned by American entrepreneur Henry Phipps Jr. for his daughter, Amy Phipps Guest, the Sutton Place South penthouse was considered a crown-jewel of Candela’s designs. The home went on to host socialite C.Z. Guest and heiress-turned-philanthropist Janet Annenberg Hooker, the latter of whom was known to host lavish parties at the home attended by longtime family friend Richard Nixon.

In its original iteration, the unit’s floorplan showed no fewer than two ballrooms and a 30-foot dining room that led out to the large terrace. Today, those ballrooms appear to be the living room and the primary suite.

The storied penthouse spans 6,900 square feet and, perhaps more impressively, an additional 6,700 square feet of outdoor terraces, offering multiple access points to sweeping views of the East River and the Manhattan skyline.

A previous broker for the Sutton Place South penthouse told Mansion Global in 2020 that the Perrys renovated the penthouse to fit their lifestyle and art collection — that collection extended out onto the terrace in 2009, when the pair installed a Jeff Koons sculpture of a giant, metallic-green diamond sculpture.

The installation reportedly drew ire from some of their neighbors, who complained about the 5-foot-high diamond’s laser-like glare.

The penthouse sat on the market for two years before Perry snapped it up, according to the Observer, $4 million less than its asking price.

The Perrys maintain a second residence at Sutton Place South — a three-bedroom spread just below their penthouse, which they acquired in 2014 for $7.6 million, according to city records.

Listing broker Maggie Gold Seelig of the Corcoran Group declined to comment.