Tuesday, May 15, 2012

Steve Wynn Double Down on Central Park South

Earlier today we discussed the staggering $52,500,000 purchase by financier Howard Marks of a gigantic duplex at New York City's 740 Park Avenue.

No doubt much to his delight (and chagrin), his real estate star is being snuffed out by 70-year old (and legally blind) casino king Steve Wynn who recently took a much younger (but middle-aged) wife and, according to all the reports, shoveled out a hair-raising $70,000,000 for a duplex apartment atop The Ritz-Carlton on New York City's Central Park South.

Your Mama is kinda speechless. Honestly.

We did have something to say, however, about the palatial penthouse sprawler in March (2012) when we dissed and discussed the 10,882 square foot park view aerie, then listed at $77,500,000 and owned by property developer Christopher Jeffries.

10 comments:

WrteStufLA said...

For a blind dude, Steve Wynn really has a thing for Central Park views ... He turned over his former abode at 817 Fifth Ave to ex-wife Elaine ... Then tried to buy at 820 Fifth (but was rejected outright by Jayne Wrightsman and the board without even an interview) ... Then on to a penthouse at the Plaza ... And now on to the Ritz ...

Anonymous said...

Whoa, $70,000,000?

God Bless the 0.000001%!

Anonymous said...

Astonishing if its true! Perhaps Mr. Wynn realizes you cant take it with you. The Mayan calendar doesnt go past 12/2012 after all..

Anonymous said...

Howard Marks got a much better deal. 740 Park beats a condo on Central Park South anyday.... but then again the Wynns could never pass a co-op board.

I guess that Russian girl at 15CPW (another condo only type purchaser) has jumpstarted the high end of the market.

Anonymous said...

The apartment was tacky, but it would look amazing with the help of a nice gay decorator. The floor plan is fabulous.

Anonymous said...

I heard that it came with around $30 million of art work, not a bad purchase price when you figure that. got a better spread for half of what the Russian girls dad paid...it's probably one of if not the best locations in the city...plus the view to die for.

It's like when Donald Trump sold Abe's House down here in Palm Beach for a "Record" $100 million, but it included $40 million of Picassos and other expensive art work.

Bottom line, when you can borrow money at 0-1%....why not?

Anonymous said...

The apartment came with nothing. No art, no furniture. The questionable furniture was gone, thank god.

Anonymous said...

Oh how much good it would do the national coffers if Congress passed a excess value real estate tax of 10-25% per year on houses over, say, 5 million. That might stop the absurd waste of money on semi empty palaces for the filthy rich and use it to pay down the national deficits and debt. Of course these "people" (I use the term charitably) think they "deserve" all their money and that Mr and Mrs Ordinary and Shabby American should give up Medicare and SS and turn to dog food so they can live it up in their palaces.

Anonymous said...

socialist.

Anonymous said...

@8:04 pm. Well said. The masses gotta give up measly SocSec, but the rich pay low taxes and live as demigods.

@9:11 pm. Uneducated, ill-informed and low wage earning dolt.