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Pierre Penthouse, Asking $125M, Now NYC's Priciest Listing

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Location: New York, N.Y.
Price: $125,000,000
The Skinny: Manhattan listings officially hit the stratosphere this week, with the first public listing of the Pierre penthouse, for a whopping $125M. That price easily makes it the most expensive public listing in the city, and at least $30M more than the city's previous record sale. The 16-room spread was not originally intended as residential space—the grand living room was once the hotel's ballroom—so there are some shortcomings, like the fact that, thanks to the tower's east-west orientation, the ballroom's towering windows don't directly face Central Park. The master bedroom also lacks park views, peering out over the East River instead. Still, 12,000 square feet atop an iconic Manhattan hotel was never going to come cheap. It sure didn't when the late financier Martin Zweig paid a record $21.5M for the place back in 1999—and proceeded to pay more than $30,000 a month in maintenance. In 2004, Zweig attempted a $70M sale, but after receiving no acceptable offers, removed it from the market. The financier passed away in February and his widow is now trying to capitalize on Manhattan's recent trophy property boom, but chances are this place won't move too quickly.
· The Penthouse at The Pierre Hotel [Sotheby's International Realty via Streeteasy]
· Inside Martin Zweig's $125 Million Pierre Triplex Penthouse [Curbed NY]