Pierre penthouse price slashed to $95 million

 The "Grand Salon" of the Pierre overlooks Central Park, with four adjoining terraces. The room is 78-feet long by 46-feet wide with 23-foot ceilings, featuring an 18-foot high fireplace and 10-foot chandelier. (AP Photo/Richard Drew)

RICHARD DREW/ASSOCIATED PRESS

The “Grand Salon” of the Pierre overlooks Central Park, with four adjoining terraces. The room is 78-feet long by 46-feet wide with 23-foot ceilings, featuring an 18-foot high fireplace and 10-foot chandelier.

It’s a biggest pre-Christmas sale than the one going on at Macy’s!

The spectacular three-story, 16-room penthouse co-op at the Pierre Hotel is now on the market for $ 95 million, a 24% discount for the Fifth Ave. aerie.

The top three floors of the Pierre Hotel at 795 Fifth Ave. could set a record for a Manhattan home if they fetch $  95 million, as the estate of Martin Zweig hopes.

Beyond My Ken

The top three floors of the Pierre Hotel at 795 Fifth Ave. could set a record for a Manhattan home if they fetch $ 95 million, as the estate of Martin Zweig hopes.

Stock investor Martin Zweig had been searching for a buyer for years, first listing the pad for $ 70 million in 2004 and later pulling it from the market during the recession.

Zweig died in February — and his wife relisted the five-bedroom, eight-bath sprawl for $ 125 million.

A black Belgian marble double staircase with upholstered rail is among the central features of the home.

RICHARD DREW

A black Belgian marble double staircase with upholstered rail is among the central features of the home.

Now priced to move at $ 95 million (three times what the Zweigs paid in 1997), it is, remarkably, only the fifth most expensive listing currently in Manhattan. But if it sells at the asking price, it would be the most expensive home ever.

The illustrious property features four terraces and a two-story ballroom overlooking Grand Army Plaza and Central Park, a Swiss sauna, a whole wing for the help and access to hotel services.

The gilded entrance to the Pierre, almost as lavish as the homes and hotel rooms inside.

Michael Schwartzl for New York Daily News

The gilded entrance to the Pierre, almost as lavish as the homes and hotel rooms inside.

Zweig’s family will never get the $ 95 million, said appraiser Jonathan Miller.

“It’s priced to shock more than to sell,” he said.

But Kurt Henkels, director of Stribling Private Brokerage, said the Pierre penthouse was worth all 9,500,000,000 pennies, what with smaller penthouses in newer condos such as 15 Central Park West and One57 selling for similar amounts.

“It’s one of the great rooms in New York, like owning the Rainbow Room,” he said. “At $ 95 million, it’s a bargain.”

Maybe for some. But buyer beware: after you plunk down nearly nine figures for the apartment, you still have to pay monthly maintenance fees of $ 42,720.


Lifestyle – NY Daily News

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