The fashion designer’s Manhattan condo, which includes a mural of the children’s book character Eloise by illustrator Hilary Knight, originally sought $80 million in 2013

Fashion designer Tommy Hilfiger is relisting his Plaza Hotel penthouse, which has been on and off the market since 2013, for $50 million, a 37.5% discount to its original $80 million asking price, he said.

The penthouse was most recently relisted for $58.9 million in November, 2016, before being taken off the market in April. “It’s a dose of reality for Mr. Hilfiger,” said Nikki Field of Sotheby’s International Realty, the fifth...

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