Inside Tommy Hilfiger's $75 Million Manhattan Penthouse

Tommy Hilfiger took three years to renovate his two-story, 6,000-square-foot penthouse at New York's famed Plaza Hotel. It is taking him about as long to sell it. The American fashion tycoon has dropped the price of the four-bedroom duplex to $75 million, the Real Deal reported.

Hilfiger listed the penthouse in 2013 for $80 million just before he married his second wife, Dee Ocleppo. Before another round of renovations, Hilfiger once had it on the market for $50 million, according to Curbed. Hilfiger purchased the classic unit and a neighboring unit for $25 million in 2008 when it was marketed as a "fixer-upper," reported AOL Real Estate.

Hilfiger says he likes that this residence is in an iconic building on Fifth Avenue, overlooking Central Park. "I always wanted to acquire trophy real estate because location, location, location is very important. As an investment you can't do better than that," he says in a CNNMoney video.

The condo, on the 18th and 19th floors, has views of Central Park and Fifth Avenue from a private terrace. The Plaza is a fully staffed 24-hour white-glove condominium with a separate entrance from the hotel, according to the listing. Residents are offered the full complement of hotel services, including maid, valet and Todd English room service.

"Only the most luxurious finishes and materials were used to restore this property to its original grandeur, complete with 21st Century conveniences," according to the listing.

A round, domed room in a turret contains a custom mural paying homage to Eloise, a character from Kay Thompson's 1950s books about a girl who lives in the "room on the tippy-top floor" of the Plaza Hotel.

"If you surround yourself with things you love, it makes for a great home design," Hilfiger told CNN.