Fashion designers Tommy Hilfiger and his wife, Dee Ocleppo, finally sold their domed duplex atop the landmark Plaza Hotel, although it took 11 years and several price reductions for that to happen.

The closing price for their penthouse, on the 18th and 19th floors of the Plaza Residences at 1 Central Park South, was almost $31.3 million, a steep drop from the $80 million they once sought. The buyer was Terry Taylor of Palm Beach, Florida, one of the country’s largest private owners of automobile dealerships.

The sale was among the most expensive transactions in New York City in October.

Hilfiger and Ocleppo, a former model who has her own fashion line, paid $25.5 million in July 2008 for their Plaza home, a combination of two units. Two months later, apparently looking for a quick flip, they briefly relisted the property for $50 million. The couple later invested another $20 million for renovations and redesigns at the 5,600-square-foot space.

Tommy Hilfiger and his wife, Dee Ocleppo, sold their duplex at 1 Central Park South for $31.3 million. (Hiroko Masuike/The New York Times)
Tommy Hilfiger and his wife, Dee Ocleppo, sold their duplex at 1 Central Park South for $31.3 million. (Hiroko Masuike/The New York Times)

Over the past decade, the penthouse has been on and off the market several times with various brokers. The asking price went as high as $80 million in 2013 and, as no takers emerged, was steadily reduced.

The penthouse has four bedrooms and 4.5 baths, along with a terrace overlooking Central Park off the spacious master suite on the top floor. It also has a media room, office and library nook within the large living room on the lower level.

The apartment’s elaborate decor features lacquer finishes and an “Eloise”-themed mural in the dome room, designed by artist Hilary Knight, who illustrated the “Eloise” children’s books. (The book series is about a mischievous girl who lived on the “tippy-top floor” of the Plaza.)

Earlier this year, the Tommy Hilfiger flagship Fifth Avenue store was shuttered, 10 years after it opened.