Penthouse in Manhattan's Time Warner Center sells for $37.5M
July 17, 2009 - New York
According to the New York Observer, a five-bedroom, 8,300-square-foot penthouse at the Time Warner Center, which was the single most expensive apartment on the market in New York City when it came on in 2008 for $65 million, has sold for just over half that asking price.
Austrian-born, Princeton-educated investor Gerhard Andlinger got $37.5 million for his apartment, the biggest New York City residential deal in nearly one year.
Nothing has sold for more than $35 million since a Fifth Avenue co-op was bought last July for $48,836,000, the appraiser Jonathan Miller confirmed.
Still, the previous owner bought the place for $25 million in 2005, so he's probably not complaining about the "low" $4,518 he got for each square foot
Features in the $37.5 million unit include a 41-foot-long living room with floor-to-ceiling windows, 14-foot ceilings, a red lacquered corner library/office, a dining room that looks out on the Hudson River, a screening room, a chef's kitchen, four full bedrooms with en suite baths, and a master suite with an office, his-and-hers dressing rooms, his-and-hers baths, and a gym, according to listing information.
blog, Manhattan, Penthouse, condo, most expensive