• The $88 Million Penthouse that shall be given away to Charity

    November 24, 2011 | Posted by

    Not all bankers have rotten hearts – or at least that’s what the moral of this particular story is. Sanford Weil who according to the Time Magazine is one of the 25 people that can be said to be responsible for the global financial meltdown of 2008. Apparently Weil was one of the few who decided that there was no limit to which the banks could take risks.

    The $88 Million Penthouse


    The banker has had a change of heart since purchasing it in 2007 for $43.7 million. The penthouse which is located at 15 Central Park West is easily one of the most expensive penthouses in the city. Weil has announced that the proceeds of what we get will go to what we can give away to try to help make the world a better place. So whether that means the entire $88 million (unlikely) or just the original $43 million is not known. It is expected that organisations such as Carnegie Hall, Alvin Ailey American Dance Theatre, the Weill Cornell Medical College and the National Academy Foundation are amongst the few that shall benefit from the charity.

    The $88 Million Penthouse_02

    Sanford and his wife who do not want the large apartment any more are moving downstairs to a smaller apartment (on the sixth floor) on the same exclusive address. If and when the $88 million price tag is met, the penthouse shall become the most expensive residential transaction ever in Manhattan.

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    The apartment which is more of a house boasts of a huge terrace at 193 square meters in size. Needless to say, residents will also enjoy a spectacular view of Central Park. The apartment also has 10 rooms – of which four are bedrooms as well as a library and a living room. Numerous walk-in closets, bathrooms and service areas round off the list.

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    The building itself is not bereft of any luxuries either. It has a movie screening room for about 20 people and special climate controlled private wine rooms with solid oak cabinets in them. Each of these 30-odd rooms boast of a seating for eight people. There is also a in-house chef at the residents beck and call. Special suites in the building have been set aside for guests as well as the domestic staff (though you would have to pay extra if those 10 rooms are not sufficient).

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    The $88 million investment requires nurturing in the form of monthly maintenance and condo association dues of $9000 plus real estate taxes of $5000. The home can be viewed in all its splendor at its own website here.

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  • Notable Quotables

    “Too many of us look upon Americans as dollar chasers. This is a cruel libel, even if it is reiterated thoughtlessly by the Americans themselves.” — Albert Einstein