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Lavish Fifth Avenue Pad Wants $12.5 Million in Huge Flip

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This current owners of this 2BR/3.5BA apartment in 980 Fifth Avenue paid $6.075 million for it less than three years ago, which makes their attempt to turn around and sell it for $12.5 million seem not a little ambitious. There are a few things that can be said in the unit's favor, though—for instance, it was recently on the receiving end of a custom renovation from famous interior designer Juan Pablo Molyneux, the man who was hired for, and later publicly denounced, the City Spire penthouse. And, not that this should affect the price, but the ownership history is pretty impressive. The apartment was once the home of an investor and philanthropist who amassed a collection of around $100 million worth of 20th century art, and the current owner appears to be a former U.S. Deputy Secretary of the Treasury. The brokerbabble is also really going for it:

This home features the building's only terrace, which is distinctly European in its design and feel; it's as if you've stepped onto a Lord's private terrace in a picturesque Roman town ... Magnificent proportions, soaring ceilings, 5 inch beautiful Brazilian walnut wood floors, French mahogany doors, Nanz hardware, elegant custom Italian wallpaper, custom moldings... And there's the promise of more to come:

We are currently working with the interior decorator in order to provide you with a meticulous description of the furnishings in this grand and exclusive home. So get ready for that.

· Listing: 980 Fifth Avenue #3B [Elliman]