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New York

Pierre hotel penthouse could top market at $120M

Martin Zweig and the Pierre hotel at 795 Fifth Avenue
Martin Zweig and the Pierre hotel at 795 Fifth Avenue

The co-op apartment of Martin Zweig, the late investor who predicted the 1987 stock market crash, is about to hit the market and could bring $120 million or more, a source told the New York Post.

The 12,000-square-foot triplex penthouse is in the Pierre hotel at 795 Fifth Avenue. Its features include nine bedrooms, four terraces, six fireplaces, heated marble floors and a “grand salon” — a cavernous former hotel ballroom with 23-foot ceilings.

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If the apartment lists for $120 million, it would be New York City’s most expensive listing. A commercial building at 66 East 11th Street is primed for residential conversion; the Greenwich Village structure,  being marketed by Douglas Elliman’s Dolly Lenz, is listed at $120 million, according to Streeteasy.com.

Right now, there are two  listings for $95 million each — one at the  Sherry Netherland and the other at 15 Central Park West.

In 2007, the Zweig apartment briefly went on the market for $70 million, listed with  Sharon Baum of the Corcoran Group and a team headed by Elizabeth Sample, who was with Brown Harris Stevens at the time. [NYP] —Christopher Cameron

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Pierre HotelSherry Netherland