The massive triplex penthouse at the Pierre hotel, once the city’s most expensive listing at $125 million, has been purchased by Cantor Fitzgerald CEO Howard Lutnick for a stunning discount at $44 million.
The respected Wall Street veteran and his wife have bought the iconic property from Barbara Zweig, the widow of financier Martin Zweig, who listed it after her husband’s death in 2013.
Lutnick has recently bought the 12,000-square-foot residence, which spans the top three floors of the iconic hotel, for an astonishing $81 million less than the initial asking price four years ago.
The palatial penthouse, with its green mansard roof that is part of the classic New York City skyline, includes a great room with a 23-foot ceiling, which was the Pierre’s original ballroom and was dubbed “the most magnificent, privately owned room in the world.”
The 16-room apartment has four terraces with 360-degree views—including all of Central Park—five bedrooms, a library, five working fireplaces and a private elevator. It costs $51,840 per month to maintain.
After first hitting the market in March 2013 at a then-staggering $125 million, it was reduced to $95 million in December of that year. Then slashed again in early 2015 to $63 million before it was taken off the market. Following a modern redesign, it was listed again in April 2016 for $57 million, and finally sold to Lutnick in August of this year for a mere $44 million.
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