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Extravagant Midtown Penthouse on the Market for $98M; NYC’s Second Priciest Home

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The 19,815-square-foot quintuplex penthouse, at 172 Madison Avenue in Midtown, listed for $98 million, is truly exceptional. Photo Credit: StreetEasy

The Big Apple is full of fine condos and lavish penthouses. Not many, however, can justify a price tag of $98 million.

The 19,815-square-foot quintuplex penthouse, at 172 Madison Avenue in Midtown, listed for $98 million, is truly exceptional. The sprawling five story home boasts 18- to 32-foot-high ceilings and “nearly anything that money can buy and the mind can imagine is possible,” as per the listing. It features a total of 26 rooms, with 11 bedrooms, 14 bathrooms, several fireplaces, outdoor terraces on each floor, a private roof deck with a pool and Jacuzzi, and a total of over 4,500 square feet of outdoor terrace space. It also has river to river views in the heart of New York. It has been adoringly nicknamed Le Penthouse. “If this is how you love to live, this is your call to action, you will love to create this one of a kind white box into a home,” the brokers wrote in the listing. Raphael Sitruk and Efraim Tessler of Keller Williams NYC were the lucky ones to be entrusted with the listing.

Designed by the late architect Karl Fischer and developed by Tessler, the memorizing home is conveniently located between 33rd and 34th Streets—an eight-minute walk to Madison Square Park, and 11 minutes away from Grand Central. Interior design was by Shamir Shah. The fully staffed building includes a 67-ft salt-water lap pool, Jacuzzi, steam room, Yoga room, a gym with complimentary classes, a lounge with billiards, a children’s playroom, and of course an on-site 172 Spa for pets. Homes include a smart system to control climate, lighting, shades and music. Common charges in the building are $30,461 per month, and taxes are $51,269 monthly.

As reported by Curbed NY, the building sits on a once-foreclosed site, where in 2011 Russian-based developers NMP Group defaulted on a loan after making plans for the building. Real estate investor Yitzchak Tessler rescued the project, purchasing and completing it. The 33-story building, dressed in reflective glass that is accentuated by robust onyx-colored frames, was built in 2016 and offers 72 apartments. Some of the building’s units first hit the market in 2015, before completion. Currently other available listings at the building include 2- bedroom apartments, with 1,488 total square footage, asking over $2.5 million; a 3-bedroom with 2,146 square feet asking $5.75 million; and a 4-bedroom penthouse with 3,548 square feet of space asking a cool $14 millio

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