David Geffen Buys NYC Penthouse for $54M Making it the Most Expensive Manhattan Co-Op
The singer/songwriter, wealthy socialite and former wife of pardoned billionaire trader Marc Rich, Denis Rich’s ultra-lavish Fifth Avenue penthouse, in which even the Prime Minister of Qatar showed his buying interest but wasn’t granted permission by the co-op board considering Sheikh’s entourage, has now been bought by billionaire media mogul David Geffen for record-smashing $54 million. The 68-year-old glossy figure in Democratic and European Royalty circles, Denise Rich who recently renounced her U.S. citizenship to save millions in U.S. taxes, originally listed her lavish spread for $65 million back in January 2012.
David Geffen, an ambitious, energetic music and movie executive worth $5.6 billion who established a vast Hollywood-based empire, featuring Geffen records and Dreamworks, purchased this 12,000-square foot Central Park penthouse on 785 Fifth Avenue for $54 million, the highest price ever paid for a co-op in NYC.
Overlooking the Central Park, David Geffen’s new penthouse which occupies the top 2 floors of Fifth Avenues white-glove Parc Cinq Cooperative, and complete complete with 11ft ceilings, custom mahogany doors, currently boasts 7 bedrooms, 11 bathrooms, three kitchens, a wood paneled library with wet bar and staff quarters.
The master bedroom suite comes equipped with a movie projector, a fireplace, and his-hers bathroom suites.
The duplex also features some luxurious amenities including a recording studio, an exercise room with sauna, hair saloon, and a private roof-top garden.
The plush apartment offering sweeping views of the NYC, also features a spacious dining room which can sear 22, and leads to one of three terraces.
Notably, David Geffen already won an apartment in the same building, right below the duplex. And, Geffen is apparently not satisfied with the space and reportedly has plans to renovate the penthouse and then sell his existing space.
With this deal, Geffen actually joins the list of elites who splashed out some serious cash to buy the exclusive spaces in New York City, including the Prime Minister Of Qatar who bought the Manhattan estate for $47 million, the Russian billionaire Dmitry Rybolovlev’s daughter buys the most expensive Manhattan penthouse for $88 million, besides the billionaires who recently bought $50million full-floor apartments in One57 New York.