The Real Deal New York

Pierre Hotel penthouse price slashed to $57M

The 16-room triplex, once asking $125M, has been on and off the market for years

April 22, 2016 04:15PM

Pierre-penthouse-swig

Pierre Hotel penthouse (Credit: Brown Harris Stevens) and the late Martin Zweig and Barbara Zweig

It’s like an auction in reverse — prices for the triplex penthouse at the Pierre Hotel keep getting lower and lower. This time, the co-op is back on the market for $57 million, down from the astronomical asking price of $125 million.

In 2013, Barbara Zweig, widow of financier Martin Zweig, put the 16-room co-op at 795 Fifth Avenue on the market for the $125 million — at the time the most expensive apartment listing in the city’s history.

By December the same year, the price was cut down to $95 million. Two years later, in January 2015, the pad, which includes a library, four terraces, sauna, private elevator and a 23-foot ceilings, was chopped by nearly 50 percent to $63 million.

After the penthouse failed to sell at $63 million, Zweig took it off the market, removed her furniture and hired a home staging company Interior Marketing Group to give the pad a “a more contemporary living style,” Brown Harris Stevens’ Mary Rutherfurd, who is listing it with her daughter and Leslie Coleman, told the Wall Street Journal.

The revamp included replacing the wallpaper in the master bedroom, taking away the carpeting from the black marble staircase and exchanging the mirrored walls in the foyer for wallpaper, the Journal reported.

The apartment, which was once the Pierre’s ballroom, on the 41st through 43rd floors has 360-degrees views of Manhattan. It has a monthly maintenance of $48,080.

Zweig has moved to a $12 million apartment on the 24th floor at the building. [WSJ]Dusica Sue Malesevic

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