For sale: $125-million New York City penthouse!

Not for the faint hearted – the US $125-million price tag makes this residence the most expensive public listing in New York City!

The triplex penthouse located at The Pierre Hotel encompasses the entire 41st, 42nd, and 43rd floors. The residence encompasses 16 grand rooms, including a living room considered the most magnificent privately owned room in the world. There are four adjoining terraces, five master bedrooms, six full baths and three half-bathrooms, five working fireplaces, separate guest suites plus staff accommodations, and sweeping 360-degree views of Central Park and the surrounding city. The spread, formerly home to the hotel’s Pierre Roof restaurant, also touts a 3,500-square foot grand salon, once used as a ballroom.

Owned by the estate of late finance maven Martin Zweig, the triplex apartment is expected to officially hit the sale block before week’s end, according to multiple sources.

At $125-million, the Pierre penthouse would be the most expensive home publicly listed for sale in NYC, trumping the $100-million CitySpire penthouse and the reported $115-million Bloomberg Tower duplex owned by billionaire Steve Cohen. The $125-million price tag would also make it one of the top three priciest residential properties in America, behind a Dallas estate currently asking $135-million and tied with Los Angeles’ $125-million Fleur de Lys.

Still, for all its grandeur, several luxury brokers who have toured the space with clients suggest the unit may be in need of a little updating.

The Pierre is a white-glove building situated on East 61st Street, near Fifth Avenue. It’s comprised of a five-star hotel and 75 co-op apartments. Residents enjoy hotel amenities like room service — which even caters to pets — and twice-daily maid service, included in hefty monthly maintenance payments. As of 2006, annual maintenance for the penthouse was $464,600.

Residences in the building must be purchased all-cash and potential buyers must pass the stringent co-op board, a factor that typically lessens the possibility of a foreign buyer.

Source: Morgan Brennan, Forbes

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