The $70 Million Penthouse

For Sale: A spectacular apartment with 360 degrees views of Manhattan located on 5th Avenue next to Central Park. The asking price? A mere $70 million.

1 minute read

December 4, 2006, 12:00 PM PST

By Matt Baumann

"People really look at it like buying a rare piece of art rather than an apartment," says the broker representing the listing. "It's not like buying a penthouse in a new building where the top five floors are basically all identical and all called penthouses. It's a thing of beauty that can't be replicated."

This apartment is currently owned by financial guru Martin Zweig. If sold at this price, it would top the previous record of $53 million set last October by $17 million. Already, two offers have been submitted, "but it doesn't mean anything, until we get them through the board," according to the broker.

Besides the astounding price, this apartment is rich in history having hosted many parties in its 3500 square foot ballroom with such luminaries as William Vanderbilt, Walter Chrysler and Condé Nast in the 1930's to Walter Cronkite and Twiggy. "It's a thing of beauty that can't be replicated."

Read the full story: Chateau in the Sky

Sunday, December 3, 2006 in The New York Times

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