Ad man Donny Deutsch’s penthouse for sale at $25 million

TRD New York /
Nov.November 29, 2010 06:55 PM
Trump Park Avenue at 502 Park Avenue, floor plans for penthouse #23 and advertising exec Donny Deustch

It looks like Donny Deutsch is finally moving into the fabulous 78th Street townhouse he’s been renovating for the past four years.

Deutsch, an advertising mogul and media personality, has been renting penthouse #23 at Trump Park Avenue at 502 Park Avenue for the past several years, during the renovation of his townhouse, his brokers said. He’s moving out this week, however, and the 6,300-square-foot apartment is now listed for sale at $25 million, or for rent at $60,000 per month. Prudential Douglas Elliman’s Victoria Shtainer and Lawrence Rich have the listing.

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The apartment is one of several remaining sponsor units in the former Hotel Delmonico. Located at the corner of Park Avenue and 59th Street, the building was converted to condominium units by Donald Trump in the mid-2000s. The building has eight penthouses, and one of them — a duplex — was once listed for $51 million. The last time penthouse #23 was for sale, in 2009, the price tag was $31.12 million.

Deutsch sold Deutsch, Inc., the advertising agency founded by his father, to Interpublic in 2000 for a reported $265 million, though he remains the company’s chairman. He was formerly the host of CNBC’s nightly talk show “The Big Idea with Donny Deutsch,” which was cancelled in 2008, and makes frequent appearances as a host on MSNBC. Deutsch, who is a friend of The Donald’s, has also appeared as a judge on “The Apprentice.”

He paid $21 million for a townhouse at 6 East 78th Street in 2006, and it has been under construction ever since.

Recently, Deutsch hosted a book party there for “Today Show” anchor Hoda
Kotb, and at the event, “Today’s” Matt Lauer called the house “the
coolest apartment in New York,” according to the Wall Street Journal.

The terrace of PH #23 at 502 Park Avenue

While the house has been undergoing renovations, Deutsch has lived in this full-floor 23rd floor penthouse, Shtainer and Rich said.

The 13-room home has four terraces overlooking Park Avenue and Central Park — including one off the kitchen — for a total of about 1,000 square feet of outdoor space. The apartment has five bedrooms, Shtainer said, and the master suite comes equipped with two separate bathrooms and “his and her closets.”

The apartment’s large size warrants the $25 million price tag, she said, noting that the layout is more akin to a prewar co-op than a condo.

“These kinds of trophy apartments with huge floor plans don’t really exist in a condo,” Shtainer said. “I think we’re going to do pretty well.”

Last year, Rich sold a $14 million apartment in the building, but said this unit is larger and is “one of the premium apartments in the building.”

One particularly unique feature, he noted, is the building’s “beautiful, old-fashioned gargoyles,” which are visible from the terraces.

The building, originally called the Viceroy Hotel, was built in 1929.

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