In 2018, an unbuilt penthouse shell under Hampshire House roof was marketed at $40 million

An unfinished penthouse space inside one of the most famous buildings on Manhattan’s Billionaires’ Row has found a buyer for $6.765 million. The sale represents an 83 percent drop from the $40 million asking price placed on the raw space eight years ago. According to the listing and auction details, the three-level property is located beneath the steep copper roof of Hampshire House at 150 Central Park South. It went under contract after a competitive online auction. The heavily reduced sale price brings an end, at least for now, to a long-running real estate story that shows the risks involved in expensive and highly ambitious luxury developments in New York City.From Grand Vision to Market RealityAccording to property marketing materials, the unfinished attic space first went on the market in 2018 with a $40 million asking price. It was presented as a rare opportunity for someone to create a custom home overlooking Central Park. Pre-approved architectural plans from SPAN Architecture were included to help potential buyers understand what could be built. The plans called for a 9,000-square-foot triplex with five bedrooms, five-and-a-half bathrooms, and four private outdoor terrace...