After 10 years on the market, Donald Trump’s trust looks to make $35M on lavish penthouse

Posted On Wed, March 15, 2017 By

Posted On Wed, March 15, 2017 By In Celebrities, Cool Listings, Upper East Side

The penthouse at Trump Park Avenue has been on and off the market for an entire decade, first listing for $45 million in 2007, and now returning for $35 million. As LL NYC reports, the President transferred ownership of the 6,278-square-foot apartment in January to the Donald J. Trump Revocable Trust, of which he’s the exclusive beneficiary. The massive duplex is as ornate as you’d expect from Trump, complete with 22 arched windows, custom tray ceilings with intricate moldings and dripping crystal chandeliers, bathrooms bathed in marble, and two large terraces with panoramic views.

To give you an idea of the penthouse’s saga, here’s it’s yo-yo-ing price history: After the 2007 initial ask, it raised the price to $51 million in 2008 after renovations; the following year, likely affected by the downturn in the market, it got chopped all the way down to $31 million; it then disappeared for a while, returning in 2013 for $45 million again; and a few months later, it dropped to $35 million, where it remained when it returned in the spring of 2015. The latest hiatus has been nearly two years, but it doesn’t seem to be budging from the $35 figure.

Other details include a private elevator, herringbone wood floors, a grand oak staircase, and handcrafted Italian hardware.

There are six bathrooms and four bedrooms; the master suite is accessed via its own private foyer.

Just last month, Trump’s trust sold a smaller penthouse in the building for $16 million to a Chinese businesswoman, the first significant sale at any of the President’s buildings since he took office. Ivanka is also trying to unload a smaller apartment at Trump Park Avenue. She first listed the “starter pad” for $4.1 million or a $15,000/month rental in December, quickly lowering the price in February to $13,000/month.

[Listing: 502 Park Avenue, PH 31/32 by Trump International Realty]

[Via LL NYC]


Images via Trump International Realty

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Neighborhoods : Upper East Side



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