Elaine Wynn's Estate Relists Fifth Avenue Condo Below Its 2010 Value

The estate of Elaine Wynn, the Wynn Resorts co-founder and casino mogul who died in April 2025, has put her Fifth Avenue condominium on the market for $16 million, Crain’s New York Business reported this week. The two-bedroom, 3.5-bath unit sits on the seventh floor of 817 Fifth Avenue, a 16-unit prewar co-op-turned-condo at the corner of East 63rd Street, directly across from Central Park.

Why it matters

The listing is being framed as a steep markdown, but the only public benchmark for what the apartment is actually worth is a New York City property record, not a comparable sale. City ACRIS filings show Wynn did not buy the unit on the open market: a deed recorded in October 2010 conveyed it to her from her then-ex-husband, casino magnate Stephen A. Wynn, for a stated consideration of $17,155,125, a transfer tied to the couple’s divorce settlement earlier that year. That figure, not a resale comp, is the closest thing to a documented valuation the unit has ever had, and it puts the new $16 million ask about 6.7 percent under it, a real but far more modest gap than an unqualified “steep discount” implies.

The numbers

The 2010 deed, covering block 1377, lot 1008 in Manhattan property records, is the only transfer of Unit 7 that ACRIS has on file, meaning there is no earlier arm’s-length sale price to compare against. At 3,450 square feet, the $17,155,125 recorded consideration works out to roughly $4,972 per square foot; the current $16 million ask is about $4,638 per square foot, a decline of $334 a foot in nominal terms over 16 years, before accounting for inflation or the roughly $270,000 a year in Manhattan carrying costs a unit that size typically draws. Built in 1925 in the Italian Renaissance style and sitting inside the Upper East Side Historic District, 817 Fifth Avenue has just 16 apartments across 14 floors, one of the smallest condominiums directly on the park.

What’s next

Crain’s did not report a broker or a timeline for a sale, and the estate has not said whether it will hold out for a price closer to the recorded 2010 figure. Boutique prewar buildings like 817 Fifth Avenue, with co-op-style board scrutiny but condo ownership, have moved slower than newer towers elsewhere in New York this year, a pattern also showing up in a 50-year-old Upper East Side holding that finally traded for $28.1 million last month after decades in one family’s hands.