Paul McCartney Sells His Two-Story NYC Penthouse at a Large Loss

Sir Paul McCartney is officially in contract to sell his penthouse in New York’s Upper East Side, according to the Wall Street Journal, but it’s not exactly a win for the former Beatle. The musician and his wife, Nancy Shevell, are reportedly fetching just $8.5 million for the property—a mighty steep drop from the $15.5 million they paid back in 2015.

Located on Fifth Avenue’s Museum Mile and overlooking Central Park, the location of the two-story penthouse can’t be beat, but when the couple purchased it, it was clear that they had their work cut out for them. Despite the building’s all glass modern exterior, the unit itself had a totally 1960s aesthetic and hadn’t been renovated since that era, per the New York Times. While the square footage is unknown, the unit contained 10 rooms when the couple purchased it, each with its own ‘60s twist that feels gaudy by today’s standards. The couple subsequently overhauled the space, though they never completed the job, and are instead selling it as a blank slate. As it stands now, the space is completely undivided and in need of an architect to make it livable, no doubt the reason for the major dip in price. In any case, its gorgeous western views visible from 40 feet of floor to ceiling windows make the property desirable regardless of the condition.

McCartney and Shevell first listed the property in June of 2021 for $12 million, so it’s clear they weren’t expecting to profit from the deal. Liverpool, United Kingdom-born McCartney still owns his Arizona ranch and multiple residences in his home country.