$65 Million Penthouse in New York... The Time Warner Center

The Most Expensive Apartment in New York City!

Atop the Time Warner Center with 360 degree views of New York City this elegant 78th floor penthouse featuring 14 ft. ceilings throughout the 8,300 sq,ft offers a master bedroom with an office, his-and-hers dressing rooms, his-and-hers bathrooms, and a gym . You may also found 4 full bedrooms with en-suite bathrooms, a dining room with views of the Hudson River, a gourmet kitchen, red lacquered corner library/office, a 41 ft long living room with floor to ceiling windows and the most incredible view of Manhattan.

25 Columbus Circle (Midtown West) represents the ultimate in five-star living and dining from a white glove concierge service, full gym, spa and pool of the Mandarin Oriental Hotel, private screening room, a basement garage, an outdoor roof deck, children's playroom, board room with Park views, private storage and ballroom. Time Warner Center is also home to the best in shopping, fine dining and entertainment.

Residents of this five-star condominium also have access to Club 51, which offers opulent party rooms with bar and catering kitchen, roof deck, children's playroom, gym, massage room and theater.

Monthly maintenance fees are $13,361, monthly taxes are $16,332, totaling $356,316 per year to live there.

Records suggest the apartment was sold for less than $30 Million two years ago.

Now on the market for $ 65 Million.

The new 'Chic" address

A staggering number of recent multimillion-dollar real estate purchases in New York were made by executives at the free-fallen Lehman Brothers.

In January 2007, Dick Fuld the firm's chief executive paid $21 million for a Park Avenue co-op.

At 15 Central Park West:
Raymond Mikulich,the co-head of Lehman Brothers Real Estate Partners paid $17.9 million;
Erin Callan, Lehman CFO paid $6.48 million;
David Bizer, the head of Lehman's European fixed-income sales paid $5.3 million;
Arthur Estey, managing director bought one of the building's biggest non-penthouse units for $16.9 million.
George Herbert Walker IV, Lehman's global head of investment management, one of the president's cousins, paid $13.95 million for a townhouse at 6 East 10th Street in Greenwich Village.

The explanation for this : those insanely large bonuses we read about each year, and a brilliant awareness of what a valuable investment opportunity those properties would ultimately become.

However, none of those deals looks more ironic in hindsight than the $25 Million spread that Bear Stearns’ ex-CEO Jimmy Cayne bought in February at the Plaza.


Via: The New York Observer:

Hedge Funder Buys 823 Park Condo for $13.5 M.

Ray Iwanowski, a hedge fund manager just bought a 4,184-square-foot apartment at 823 Park Avenue for $ 13.5 Million
-which may prove that select financiers whose groups lose a few billion dollars during rough times are still willing to buy up full-floor, nine-room, five-bedroom, two-fireplace apartments-

Via The New Observer