clock menu more-arrow no yes mobile

Filed under:

Palatial Pierre Penthouse Slashes Ask in Half to $63 Million

New, 22 comments

How the mighty have fallen. Widely considered one of the choicest pieces of real estate in the city, the triplex penthouse atop the Pierre Hotel has slashed its ask to an unthinkably low $63 million. Unthinkably low, that is, when you consider the enormous 16-room apartment first listed in the spring of 2013 for $125,000,000. Home to the late Martin Zweig, a financial expert and stock market crash predictor, his widow "downgraded" to an apartment on a lower floor. With so many of New York City's most expensive sales ever closing in 2014, it wouldn't have been a shocker for some oligarch to shell out top dollar for this three-floor residence, but no dice. In December 2013, the ask was cut to $95 million, and then it left the market on Christmas Eve of 2014. The new listing, for $63M, has a few new photos. But it's still the same grand unit with "five or more bedrooms," a ballroom with a 23-foot ceilings, and terraces in each of the building's four corners. The one difference? It's half off now. Well, 49.6 percent off the original price, but if you round, that merits admittance to the very exclusive PriceChopper Hall of Fame.

Daily News ace Katherine Clarke was first to spot the PriceChopped listing late yesterday, reporting that "it's the largest price-cut the market has seen in years and ususual in a booming market." The revised brokerabble on the new Brown Harris Steven listing includes some choice words, bolded for emphasis:

This magnificent cooperative apartment is a French chateau with a mansard roof atop the landmark Pierre Hotel. Visible from afar, this apartment is a part of the iconic New York City skyline. It is unique in many ways, especially in beginning on the 41st floor making it the highest prewar cooperative apartment in Manhattan. The residence has 360 degree views including all of Central Park. It boasts the hotel's original ballroom with a 23 foot ceiling; cozy sitting rooms; a paneled library; terraces in each of the four corners of the building; five or more bedrooms; four working fireplaces and an interior elevator. The residence has been exquisitely renovated and enjoys full hotel services. Priced properly at its market value, this apartment provides a unique opportunity for the most discerning buyer. Remember, maintenance is $44,000/month.
· Listing: The Penthouse at the Pierre [BHS via StreetEasy]
· HALF OFF: Trophy Pierre Hotel penthouse asking price drops from $125M to just $63M [NYDN]
· Pierre Penthouse Now Costs $95M After $30M Price Cut [Curbed]
· $125 Million Triplex Penthouse At the Pierre Is Now Empty [Curbed]
· Inside Martin Zweig's $125 Million Pierre Triplex Penthouse [Curbed]
· Martin Zweig's Pierre Penthouse Officially Asks $125 Million [Curbed]
· Here Now, a 1996 Floorplan For That Pierre Triplex Penthouse [Curbed]
· Martin Zweig's Pierre Penthouse Could Fetch $120 Million [Curbed]
· Mapping New York City's Most Expensive Homes Ever Sold [Curbed]
· All Pierre coverage [Curbed]

The Pierre – A Taj Hotel

2 E 61st St, New York, NY 10065