‘The Queen of Versailles’ has reduced the price of her NYC penthouse by nearly half

The Queen of Versailles’ Tribeca penthouse duplex is now on the market for $11.95 million, asking almost half its $19.5 million price in January 2024. 

Jackie Siegel, 59, and her late husband David Siegel bought the home at 49 Chambers St. for $8.7 million in 2023 — and then listed it for $19.5 million the following year.

“It is a spectacular apartment, but it was an unrealistic price that didn’t make sense. You can’t overprice in this market,” said current listing broker Thomas Hochfelder, of Douglas Elliman.

The Siegels gained international attention with the construction of their 90,000-square-foot Orlando, Fla., home, known as Versailles. Construction began 21 years ago. It was chronicled in the 2012 award-winning documentary “The Queen of Versailles,” which is slated to be a Broadway play starring Kristin Chenoweth.

That home is still slated to be the country’s largest when it is finally completed — but construction was stymied over the years by economic troubles and natural disasters. It is estimated to be worth around $100 million when finished.

In April, David, the billionaire founder of Westgate Resorts — the world’s largest privately owned timeshare company — died before they could call Versailles home. He was 89 years old. Days later, Jackie’s sister Jessica Mallery died of an overdose after taking cocaine laced with fentanyl. She was 43 years old.

In interviews, Jackie has said she will use Versailles to hold charity events, “give back” and raise awareness about drug addiction. It’s the best way, she said in interviews, to cope with the pain of loss. Jackie and her late husband also lost their 18-year-old daughter Victoria to an overdose in 2015, which spurred Jackie to launch Victoria’s Voice Foundation.

In Tribeca, the three-bedroom, three-bathroom, two-powder room home is 3,924 square feet and comes with great outdoor space. It’s the crown jewel of a landmarked, turn-of-the-century Beaux-Arts building. 

The home opens to a foyer that leads to a great room with living and dining areas that showcase city skyline views.

The city views continue in the main bedroom suite, which also boasts custom walk-ins and a spa-like marble bath with radiant floors.

There are also two additional bedrooms and a home office and laundry room. Design details include custom herringbone floors and high ceilings.

An open chef’s kitchen — “with a 20-foot-long marble countertop,” Hochfelder noted — features a sculptural marble staircase that leads to an 850-square-foot landscaped terrace with a summer kitchen, lights and speakers, along with an interior service bar and powder room. 

The home is primed for entertaining, Jackie told Gimme when the home first hit the market — including hosting events for Victoria’s Voice.

The limestone and granite building, once the Emigrant Industrial Savings Bank, dates to the early 1900s. It was added to the National Historic Registry in 1982 — and converted to condos in 2013. The building’s original “grand banking hall” is now an immersive art space, Hall des Lumières, which hosts art exhibitions with music, plus yoga classes.

Building amenities for residents include a landscaped rooftop park with sun decks, indoor/outdoor kitchens, a 50-foot lap pool and a gym.