Frank McCourt Lists NYC Home for $47.5 Million

Former Los Angeles Dodgers owner Frank McCourt listed his New York City apartment for $47.5 million this week, a $2.5 million reduction from the $50 million he paid for the property in 2012. The four-bedroom, 3.5-bathroom residence is situated on Fifth Avenue and offers views of Central Park and the Manhattan skyline. McCourt, 72, acquired the apartment the same year he sold his stake in the Dodgers for $2 billion and the surrounding land for $150 million. The listing highlights that the apartment has recently undergone a renovation by design firm Ries Hayes. McCourt's estimated net worth is $1.5 billion, according to Forbes. The property is described as being in a "white-glove co-operative." The sale comes 14 years after McCourt's initial purchase.