Uncategorized August 2, 2012

NYC Penthouse listed for $100M


From the "Buy and Hold" desk, thanks to the Daily Journal of Commerce. Be sure to read/skip to the end and note the basis.

NEW YORK (AP) — An octagon-shaped penthouse in midtown Manhattan is on the market

for $100 million.

The 8,000-square-foot apartment features six bedrooms, nine bathrooms and a wraparound terrace with 350-degree views of the city. It has an internal elevator and a wine room for 1,000 bottles.

The penthouse, on West 56th Street, is being sold by Long Island real estate developer Steven Klar. It's listed with Prudential Douglas Elliman.

The asking price reportedly is the highest for any New York City apartment currently on the market.

It's also believed to have the highest terraces in the city. It occupies the 73rd through the 75th floors.

Klar bought the property for $4.5 million in 1993, and spent at least as much renovating it.