A storied penthouse perched atop one of Manhattan’s most exclusive addresses has returned to the market for the fifth time — and for quite a discount.

Now asking $19 million, it’s a stunning $26 million below the $45 million price its owners first dangled before buyers nearly six years ago, The Post has learned.

The crown jewel of 1 Sutton Place South, a landmark Rosario Candela-designed cooperative on the East River, re-listed June 18 with Serena Boardman of Sotheby’s International Realty. Boardman did not respond to a request seeking comment.

At the helm of the unit are Richard Perry — the hedge fund impresario turned Barneys New York chairman whose empire unraveled spectacularly — and his wife Lisa, a fashion designer whose bold aesthetic is as synonymous with the apartment. (Same goes for the Jeff Koons metallic green diamond sculpture the couple once planted on its terrace, reportedly sending neighboring residents into a blind rage over its laser-like glare.)

The Perrys paid $10.9 million for the apartment in 2000, after it had been sitting on the market for two years. Now, a quarter century later, they are asking nearly double that — but the market has not been kind to their ambitions.

The listing saga began in November 2020 with a much higher $45 million ask. By June 2022, the price fell to $37.5 million. 

In August 2023, it came down again to $26 million, bouncing between brokerages before going dark entirely in May 2026. 

Late last week, it resurfaced at $19 million — the latest in a string of reductions that have collectively stripped more than $26 million off the original ask.

Not everyone is convinced the bleeding has stopped.

“The market will always dictate the price and it will also tell you when the price is not right,” one real estate agent, who asked not to be named, told The Post. 

“In this case, this penthouse was priced too too high from the start. Even at its current price of $19 million — for its location and acquired taste, I still believe it is too high. I’d say as it currently stands, it should be listed on the market somewhere between $13 million to $15 million.”

The penthouse occupies the entire top floor of the 13-story limestone and brick building, itself one of the most sought-after addresses in the five boroughs. High end art — though not included in the sale — can be seen throughout the home, which include pieces by Roy Lichtenstein, Andy Warhol and, yes, Koons.

The cooperative was commissioned by the Phipps family, the patriarch of which was a friend of Andrew Carnegie. The penthouse, whose original floor plan showed two ballrooms, was originally built for Amy Phipps, who married British politician Frederick Guest. 

Its subsequent roster of inhabitants reads like a social register highlight reel — from C.Z. Guest, the American socialite and style icon whose circle included Truman Capote, Cecil Beaton and the Duke and Duchess of Windsor, to Janet Annenberg Hooker, the heiress-turned-philanthropist known for hosting lavish gatherings attended by longtime family friend Richard Nixon.

By the time the Perrys arrived, the apartment had absorbed decades of gilded history. They promptly made it their own, stripping out the 18th-century gold and ivory door frames that the New York Times had catalogued in 1998 and replacing them with gallery-white walls and modernist fixtures tailored to their art collection. 

A source told Fortune magazine of the Perrys, “When you go to their house, they give you an art catalog and literally take you on a tour.”

The apartment spans roughly 6,900 square feet across 14 rooms with 15-foot ceilings in the primary suite and a skylight above the living room that opens to the sky. 

Two private elevator landings divide the residence into distinct wings — one for entertaining, one for private living — with nearly every room accessing the approximately 7,400 square feet of wraparound terraces that frame sweeping East River and city skyline views. A powder room designed by artist Leo Villareal adds a further collector’s flourish.

Richard Perry’s financial biography adds texture to the protracted listing. He founded Perry Capital in 1988, becoming a billionaire in the process, before acquiring a controlling interest in Barneys in 2012. The storied retailer filed for Chapter 11 bankruptcy, and Perry shuttered his hedge fund in 2016 following a string of losses. 

Reports indicate he has been working to launch a new firm.

The Perrys also own a three-bedroom unit on the 12th floor of the same building, acquired in 2014 for $7.6 million.