THIS IS BALLIN: $60 Million New York apartment is up for sale - to the right buyer!

It probably looks even better than this picture inside!


"Property markets may be crashing worldwide, but in the world of New York real estate one building remains apparently untouched: 740 Park Avenue.

This week Courtney Ross, widow of the funeral parlour director-turned legendary Time Warner entertainment mogul Steve Ross, quietly put her 32-room apartment in 740 on the market for in excess of $60m (£37m).

"It's going to be the most expensive apartment ever sold in New York," predicted the sales agent. The property, Edward Lee Cave said, was not officially for sale and would be shown to just 10 prospective buyers "because there will only be 10 people who are appropriate to see it".

The building is considered so exclusive that last year it saw the publication of its own biography, 740 Park: The Story of the World's Richest Apartment Building, by the New York society writer Michael Gross.

Indeed, the building - described as the "noblest of all" New York apartment buildings by Vanity Fair - is a road map of American wealth and society since it was built in 1929.

Where it was once home to Vanderbilts, Rockefellers and Chryslers - Jackie Kennedy, then Bouvier, grew up there - it now houses the new-monied elite of banking, hedge funds and private equity: Henry Kravis, David Ganek, Saul Steinberg, John Thain and Stephen Schwarzman.

The Ross apartment, while not considered the most elegant, is the largest in the building. But scraping together $60m plus is no guarantee of entry. Under New York's co-op vetting system, applicants will have to go undergo rigorous background checks. At a minimum, a buyer must put at least half down in cash and prove he or she is liquid to at least three times the total value of the sale - and that's even before a stringent social evaluation is undertaken by the building's board members.

While the rest of Manhattan considers a property crash - as many as 80,000 luxury flats were built during the boom and hardly any are selling - agents are confident the Ross apartment will find a buyer. "It's not going to be 'at least' $60m," Cave said. "It will be over $60m."

But with money fleeing collapsing hedge funds and private equity firms forced to write down the value of their assets, the mood in the city's rich addresses is souring.

"I've never seen a mood quite like this one," Holly Peterson, daughter of the Manhattan private equity king Pete Peterson, noted in Newsweek last week. "Everyone is just plain scared, but no one is talking specifics.

"The thing about rich people is you never know exactly how rich they are or where their money is." theguardian.co.uk

OMG...60 Million dollares? I think I just wet myself.


Thoughts?

Views: 453

Comment by Siren on October 24, 2008 at 2:19pm
NY is the only city where an "APARTMENT" can cost you $60 MILLION!!!! For 60 Million I need soem grass and fresh air!
Comment by Stephbaby on October 24, 2008 at 2:52pm
Wow never heard of 32 room apartment! Fukc ballin thats flying!! Look @ that room, the things I could do.....
Comment by Busy Signal aka $picey on October 24, 2008 at 11:10pm
I'll slide in my socks, lacy underwear and a white T shirt on the wooden floors like Tom Cruise in Risky Business on the wooden floor from one end of the room to the next. :)
Comment by The GunnAr Management Group, LLC on October 25, 2008 at 5:03pm
That's a lot of effin' glass.

The GunnAr Management Group, LLC
Comment by Denise on October 27, 2008 at 10:51am
Must be nice...

Comment

You need to be a member of Baller Alert.com to add comments!

Join Baller Alert.com

ADVERTISEMENT

Connect


BallerBoards

Who's Going to the The Chris Brown and Trey Songz concert in ATL!?

Started by Natasha Thomas in Talk Ish 3 hours ago. 0 Replies

I'm Going to The BTS Tour in Atlanta and my bestfriend and I Got separate seats across the stadium from each other so I want to know if any gorgeous girlies were going to be there so we can meet and…Continue

Heeeyyyy new to Baller Alert and looking to meet new friends! :)

Started by Natasha Thomas in Talk Ish. Last reply by Natasha Thomas 4 hours ago. 2 Replies

Hi everyone my name is Natasha i am 20 and i model, new to this site i love reading blogs so i just thought hey why not sign up.!! lol i love to have fun and meet new people as well as read and talk…Continue

Mardi Gras 2015

Started by Ashley T in Talk Ish. Last reply by Fe. 9 hours ago. 3 Replies

Has anyone been? How is it? I am thinking about goingContinue

MET AN A LIST ARTIST A COUPLE DAYS AGO.... HE WANTS TO HANG OUT AGAIN... NEED ADVICE

Started by Lindsay Nicole in Talk Ish. Last reply by Oneandonly 9 hours ago. 6 Replies

OK SOOOO I MET A VERRRRRY FAMOUS RAPPER WHEN I WAS OUT A COUPLE NIGHTS AGO AND WE REALLY HIT IT OFF... WE EXCHANGED NUMBERS AND WE'VE BEEN TEXTING (SMALL TALK) AND HE WANTS TO SEE ME AGAIN ASAP. THIS…Continue

Latest Activity

RubyWoo's 5 events were featured
14 minutes ago
RubyWoo posted events
15 minutes ago
V commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"While tomorrow is Thanksgiving, I'm on a MLK Day vibe right now, cuz I have a dream. I have a…"
26 minutes ago
Asimplebijou commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"I agree. No comment. No comment is really the right comment"
33 minutes ago
Diva commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"Isn't she pregnant by someone else? I wonder why she didn't move in with him instead of…"
34 minutes ago
Asimplebijou commented on Eleven8's blog post Baller Mail - Tony Carter of the Denver Broncos Enjoys Wild Orgy-Filled Pool Parties
"chile I'm speechless."
40 minutes ago
Beautiful Brownie commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"I'm going with the no comment response..."
46 minutes ago
Sandy Cheeks commented on Eleven8's blog post Nick Young Tells You How To Put The Mack Down On Social Media (VIDEO)
"So all I have to do is make Doug McDermott or Austin Daye, who was last week complaining about not…"
1 hour ago
MzParadise commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"Wow is she serious!"
1 hour ago
Sandy Cheeks commented on Niko Rose's blog post Sherman And Baldwin Challenge the NFL (Video) : by @niksofly
"Richard Sherman tickles with his antics, but he has a point. I wonder what type of punishment…"
1 hour ago
Sandy Cheeks commented on Eleven8's blog post Leah Still's Mother Says Devon Still Hasn't Paid Child Support Since August
"No comment."
1 hour ago
Sandy Cheeks commented on Eleven8's blog post Baller Mail - Tony Carter of the Denver Broncos Enjoys Wild Orgy-Filled Pool Parties
"@LaLa CHURCH!!!! AMEN!!!!"
1 hour ago

© 2014   Created by Baller Alert.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video