NYC’s Pierre Hotel penthouse finally sells for $44M, a 65% discount

Editor's Note: This post was originally published on August 1, 2017 and has been updated with the most recent information.

The Pierre Hotel penthouse of late American financial analyst Martwin Zweig and wife Barbara Zweig has finally found a buyer, but not at the aspirational record-setting price the couple once imagined.

The penthouse sold for $44 million, public records first spotted by The Real Deal show—a hefty discount from the $125 million the triplex apartment hit the market for back in 2013.

After failing to woo a buyer at the $125 million price point, despite some flowery brokerbabble decreeing the penthouse living room, the original Pierre Hotel ballroom, the “most magnificent privately owned room in the world,” Barbara Zweig rolled back the listing price by $30 million.

In early 2015, that price took another beating—nearly slashed in half from its original ask to $63 million. After another unsuccessful attempt, it went off the market in the fall of 2015, only to return last October sporting a contemporary redesign and seeking $57 million.

The buyer is the anonymous 795 Properties LLC, after the Pierre Hotel’s address of 795 Fifth Avenue. [Update: The Post reports that the buyer is Cantor Fitzgerald CEO Howard Lutnick.] The 16-room apartment comes with four terraces, a private interior elevator, and the services of two designated staff members. The co-op carries a monthly maintenance fee of $51,840, according to StreetEasy.

Barbara Zweig listed the property after her husband died in 2013. She currently resides in a $12 million apartment on the building’s 24th floor.

• Once asking $125M, Pierre penthouse sells for less than $50M [TRD]
• Newly Redesigned Pierre Penthouse Returns With Smaller $57M Ask [Curbed]
• Pierre Penthouse Now Costs $95M After $30M Price Cut [Curbed]
• Inside Martin Zweig's $125 Million Pierre Triplex Penthouse [Curbed]