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Pierre hotel penthouse to become New York City’s most expensive listing at $120 million

Andrea Divirgilio / March 15, 2013

For the wealthy home buyers, New York’s penthouses seem to be one of the prime ‘must-haves’ on their list of real estate spaces. The high price tag doesn’t seem to be bothering them one bit, and when these magnificent spaces go on sale, there seems to be an equally wealthy set of buyers waiting in the docks. Last year, we saw Steven Klar’s New York Estate listing for $100 million, $88 million Manhattan penthouse purchase by the daughter of Dmitry Rybolovlev, and David Geffen’s $54 million Manhattan co-op amongst the most expensive housing transactions in the US luxury real estate market. What was even more unbelievable for some is that one under-construction penthouse located at 4 East 80th Street sold for $90 million! But topping it all will be the $120 million listing of Martin Zweig penthouse atop Pierre hotel, stated to become New York City’s most expensive listing ever. The apartment’s owner, Martin Zweig’s claim to fame was predicting the 1987 stock market crash, but sadly the man breathed his last in February this year at the age of 70.

Martin Zweig and his Pierre Hotel penthouse

The Property

The ballroom in this 3-storeyed penthouse apartment was once called ‘the most important room under private ownership in New York City’. The rich and famous of the ever vibrant city were regulars at the Pierre Hotel situated in New York’s 61st street. Apart from having a prime setting allowing a panoramic view of the city, the apartment features marble stone lining in most spaces, and heavy chandeliers are a common factor in every room one goes.

The Lobby staircase

To breathe in the beauty, one could see the 4 terraces, 1 ballroom, 5 fireplaces and spreads over a lavish 12,000 sq ft of space, spread over 3 floors. Apart from having a direct view of New York’s Central Park from the apartment; one can get in with a truly grand welcome of the wood-worked staircase at the lobby. For some quiet time to read books or have some official work done, there is the library which has an imposing amount of ornate woodwork on the wall, and even the fireplace, apart from the heavy carpeting on the floor.

Penthouse ball room

Address: 795 Fifth Avenue, 61st Street, Pierre Hotel, New York.

The Library

Facts and figures

One of the balconies of the apartment

- Some of the celebrities and famous people owning apartments in the building include Elizabeth Taylor and Yves Saint-Laurent.

- The ballroom of the penthouse was once called ‘the most important room under private ownership in New York City’.

- Martin Zweig had paid a sum of $21.5 million to buy this triplex penthouse in 1999.

- In 2004, Martin Zweig tried listing this house for a price of $70 million but no buyer came through then.

- If the penthouse gets sold at the price stated, it will go on to become the most expensive piece of real estate sold in the city, and one of the most expensive in the United States. It will surpass the Dmitry Rybolovlev’s $88 million purchase last year for his daughter’s summer home!

- Martin Zweig became famous for predicting the 1987 stock market crash, and also had authored many books on his specialized arena of stock market investing.

The sitting room and Martin Zweig in the press

Via: The Real Deal

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