Manhattan seems be relatively unaffected by the downturn in the real estate market. The luxury real estate seems to be flourishing in the area. The buildings that provide views of the Central Park command high prices and find buyers with deep pockets with relative ease. There is news of a big ticket transaction in Manhattan’s expensive Central Park South. Casino mogul Steve Wynn has added a new property to his large portfolio and instead of his favorite Las Vegas strip he has opted for Manhattan this time. The 70 year old billionaire who has been declared legally blind shelled out $70 million for a duplex apartment on the Central Park South.
It is not clear how he will enjoy it but the apartment affords some incredible views of the Central Park. The duplex apartment in the Ritz Carlton Hotel occupies two floors and is located on the 30th and the 31st floor of the building. The apartment is spread over a total area of 10,882 square feet. It was originally built as the hotel’s grand ballroom but was converted into a private residence that the billionaire plans to move into with his new wife who is much younger to him. He married Andrea Hissom, who is in her forties, last year in April in one of his casinos.
The converted apartment now has 4-bedrooms, 5 full bathrooms and 5 half bathrooms, a 900-square foot living room, a dining room, a media room, and a library. Built as a ballroom, the apartment has 15 foot ceilings. The apartment boasts of a Chef’s kitchen but it is somewhat small when compared to the size of the apartment. The highlight of the apartment is the park-facing terrace which stretches along the 43-feet of the building’s northern exposure. The property was listed for $77.5 million but according to reports carried by New York Post Mr. Wynn managed to negotiate it down to a round figure of $70 million. It would be rather expensive to maintain as well. The apartment will attract a monthly communal charge of $18,057 and another $11,593 in taxes.
