Media mogul Rupert Murdoch's penthouse apartment in Manhattan could Michael Schmidtbe yours for $38.5 million — a chunk of change, sure, but a relative bargain compared with the previous price. 

Murdoch, the former chairman of News Corp. and Fox News, has re-listed his condominium at a steep discount from the $62 million he originally was asking for in 2022, according to a listing by real estate firm Compass. The effort to sell the triplex comes as Murdoch is engaged to be married for a fifth time, 

At its current price, the home will cost a buyer $5,390 per square foot. The 7,100 square foot apartment, located in the tony One Madison tower 23 E. 22nd St. in Manhattan, spans the 58th, 59th and 60th floors, the building's top three levels. 

The five-bedroom, six-and-a-half bathroom unit features double-height windows, offering expansive views of the city, including the both East and Hudson rivers, along with amenities like a private elevator, indoor pool, steam room, fitness center, terrace and "social lounges. The building, constructed in 2009, has 53 residences. 

Compass' Kyle Blackmon, the listing agent, told CBS MoneyWatch the home is priced to sell. "The revised price reflects current realities and is closer to where the market values the residence.

Blackmon added that the penthouse unit's vast wall space is a unique asset, particularly for a buyer who wants to display their art collection.

Representatives for Murdoch declined comment. 

"We will sell this residence, and the buyer, who will likely be an art collector, will secure an exceptional value for this important and rare offering," he said.

Despite its high price, the current listing isn't close to setting any records. Blackmon sold a penthouse at 15 Central Park West for $88 million, or $13,048 per square foot, making it the most expensive apartment sold on a square foot basis in the U.S. for an officially listed condo resale, according to Compass. 

Megan Cerullo

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News Streaming to discuss her reporting.