NY Pierre Penthouse – Millionaire Price Tag

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The Pierre Hotel underwent a $100 million renovation in 2005, and is now a hotel and residence building managed by Taj Hotels Resorts and Palaces. And its penthouse was in April in the mouth of every one in the busyness world… and do you know why? The anticipated asking price was $125 millions.

At that staggering sum, the Pierre penthouse would be the most expensive home publicly listed for sale in New York City, 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.

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Sitting 41 stories above the Pierre Hotel, the co-op penthouse spans 12,000 square feet stretched across three floors. It boasts  five bedrooms, six full baths, staff quarters, five fireplaces, four terraces (including two off the master suite), a grand marble staircase, a private interior elevator, 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.

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. Annual maintenance for the penthouse is $512,640.

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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.

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