The Real Deal New York

NYC’s biggest-ever price chop? $125M Pierre PH now asks $63M

Triplex now being marketed by Brown Harris Stevens

January 29, 2015 08:00AM

pierre-hotel

795 Fifth Avenue penthouse (inset: Mary Rutherford, Martin Zweig and Barbara Zweig)

Oh, how the mighty have fallen. Barbara Zweig, widow of financier Martin Zweig, who wanted a record-setting $125 million for her three-floor penthouse co-op at the Pierre Hotel in 2013, will now settle for a paltry $63 million — a price chop of nearly 50 percent.

The $125 million asking price in 2013 was the most expensive apartment listing in New York City history. Elizabeth Sample, Brenda Powers and Serena Boardman of Sotheby’s International Realty had the listing at the time. In December 2013, the asking price was cut to $95 million.

Now, Mary Rutherford and Leslie Coleman of Brown Harris Stevens have the listing, the Wall Street Journal reported. Rutherford told the newspaper that the new price is “right in the middle” of that market.

Martin Zweig, who died in 2013, tried to sell the co-op at 795 Fifth Avenue for years. He sought $70 million for it in 2004, then de-listed it prior to the recession. The apartment features a 23-foot ceiling, four separate terraces, a library and four fireplaces.

A $100.5 million penthouse at One57 broke the record for the priciest condominium sale in December, as The Real Deal reported. [WSJ] — Mark Maurer

 

 

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