New York Penthouse Available for $120 million

By Paul Joseph

A penthouse apartment on New York’s Fifth Avenue once owned by Anglo-American industrialist J. Paul Getty has been put on the market for $120 million – a price that would make it the city’s most expensive home.

Situated at the top of The Pierre Hotel, the lavish penthouse is spread over 3 separate levels and boasts five bedrooms, six bathrooms and five fireplaces beneath 7-metre ceilings.

Offering 360-degree views over Manhattan, Central Park and the Hudson and East Rivers from its cathedral windows, the apartment also features a private gym, a Swedish sauna, three powder rooms, a private elevator that services all three floors and three kitchenettes as well as a main kitchen.

Currently housed inside is an array of impressive art work and opulent furnishings belonging to the estate of the late investor, author and stock-market pundit Martin Zweig. However, for its new owner to retain all of these lavish features will add significantly to the already dizzying asking price.

Moreover, a two-person housekeeping staff and monthly maintenance is available at an additional cost of $47,000, including electricity use.

Purchased by J. Paul Getty in 1938, the apartment was converted into a co-op in 1959. In 2005 the entire building underwent a $100 million renovation, and is now a luxury hotel and residence managed by Taj Hotels Resorts and Palaces.

By Paul Joseph