Manhattan Penthouse Listed for $100 Million

Ben Bernanke's previous money printing has resulted in huge amounts of money sloshing around among the elite, who are bidding up the prices of trophy apartments to spectacular levels.

AP reports:

An exclusive listing is offering an octagon-shaped penthouse in midtown-Manhattan that boasts three floors of living space, panoramic views of the city, six bedrooms, nine bathrooms and a wine room for 1,000 bottles.

And that's not all.

The 8,000-square-foot apartment on West 56th Street has its own elevator and wraparound terraces on three floors. It is possible to see nearly all of the city's bridges from its 135 windows.

The penthouse is being sold by Long Island real-estate developer Steven Klar, who purchased it for 4.5 million in 1993 and spent at least as much renovating it.

Klar told The New York Times he has decided to sell it because his 5-year-old son "could potentially get out on the terraces."

The triplex, occupying the 73rd through the 75th floors, is the exclusive listing of Raphael De Niro, a broker with Prudential Douglas Elliman and the son of actor Robert de Niro. He said the terraces offer the highest outdoor residential space in the city.

During the downturn in the housing market in the early 1990s, lenders took away the building from the developer. Klar purchased his penthouse after his company, Klar Organization, was brought in to sell the unsold apartments.

The asking price reportedly is the highest for any New York City apartment currently on the market.

Can you imagine what these apartments will go for if inflationist Keynesians like Alan Blinder get their way?