Jay-Z’s former Time Warner Center rental on the market for $38M

The 76th-floor Time Warner Center penthouse that Jay-Z once rented for $40,000 per month is back on the market for $38 million with Prudential Douglas Elliman’s Raphel and Claudine De Niro. That’s $11 million more than what it sold for in 2007, when Todd Wagner, the dot-com era business partner of Dallas Mavericks owner Mark Cuban, purchased the four-bedroom, five-and-a-half-bathroom apartment for $27 million, or $5,596 per square foot, from telecom entrepreneur and real estate investor Michael Hirtenstein. Hirtenstein had bought it for $15.7 million but later had second thoughts about moving his 10-year-old daughter into the place. He rented the penthouse to Jay-Z instead before selling it to Wagner in what was, at the time, the highest price-per-square-foot ever paid for a Manhattan condo. [Curbed]