• Mercedes Benstock

120 Million dollar Penthouse

A triple storey penthouse, on top of one of New York’s “best hotels” is due to break records, going on “sale” for $120 Million dollars.

The three floor Penthouse belonged to legendary stockholder Martin Zwig, who was known for predicting the 1987 stock market crash, when appearing on PBS Wall Street Week with Louis Rukeyser on October 16th of that year.

The 70 year old, passed away last month and his 12,000 square foot penthouse (on the top three floors of the luxury Pierre hotel) is predicted to sell up for $120 million, making it New York’s most expensive piece of real estate, and one of the country’s most expensive home’s.

Sources have told the New York Post that it was brought in 1999 for $21.5 million. The breath taking triplex has a ballroom, four terraces, five fireplaces, and spectacular views of Manhattan. Chandeliers are in most of the rooms, and the entrance includes a stunning marble staircase to greet its visitors.

Property website “curbed” reports that one broker called the ballroom “The most important room in private ownership in New York City”.

The East 61st street Pierre hotel is an attraction for the “rich and famous”says the daily mail. Permanent residents of the 75 apartments in the building have included Elizabeth Taylor and Yves saint Laurent.

The apartment failed to sell when it was put on the market for $70 million, in 2004. Almost doubling its price nine years later, a sale of $120 million dollars is inevitably bound to grab headlines.

According to a business insider, the largest amount spent on a property in NYC was $88 million last year, by Russian billionaire Dmitry Rybolovev. He brought the luxury pad as a mere “holiday home” for his college age daughter to use when visiting New York City.

Whose looking to buy!?

Infront of The Pierre NYC