clock menu more-arrow no yes

Filed under:

It Happened One Weekend: What $70 Million Gets You

1) Financier Martin Zweig owns triplex at the top of the Hotel Pierre that's been listed for years at a cool $70 million. The Times went for a tour of the hotel's former ballroom that features a 3,500 square foot salon, wraparound views of the park and a full-time butler that comes as part of the property. The sale would destroy the previous high mark of $53 million for the Harkness Mansion from October. The catch? Pierre Condos requires that apartments be bought entirely in cash. Two bids have been made since it went on the market in 2004, but even if you can raise that much money, you still need to get through one of the toughest boards in the city. (More pics at the City Section/NY Times]

2) The 28 owners of 417 Park Avenue were offered $140 million for their co-op building. This may be the first time a developer has attempted to buy out every shareholder at onece. The 13 story apartment house sits in a prime stretch of Park Avenue office towers and the bidders at the Moinian Group have no plans. Co-op board president George O'Sullivan said, "The offer came in through the window" and, crucially, "there's no interest." [Steve Cuozzo/NYPost]

3) Remember the Switch Building? Of course you do. The extended building in the Lower East Side is still under construction, and even though the sales office doesn't open until January, one unit is already under contract. What makes the Switch so hot? Douglas Elliman Broker Avi Voda explains, “It’s not a typical condo with oak floors and granite countertops, and it's much more high-tech.” Ah. [Posting/C.J. Hughes]