Trophy Property Probably Coming Back On The Market

"Martin Zweig, an influential investor and television pundit who predicted the 1987 stock market crash, published a closely followed newsletter and in 1999 made what at the time was the most expensive residential purchase in New York history, died on Monday at his home in Fisher Island, Fla. He was 70. In 1999 he spent a record $21.5 million to buy the Pierre Penthouse, a multistory apartment at... [more]

"Martin Zweig, an influential investor and television pundit who predicted the 1987 stock market crash, published a closely followed newsletter and in 1999 made what at the time was the most expensive residential purchase in New York history, died on Monday at his home in Fisher Island, Fla. He was 70. In 1999 he spent a record $21.5 million to buy the Pierre Penthouse, a multistory apartment at the top of the Pierre Hotel that includes a grand ballroom with sweeping views of Manhattan. “It was the most important sale in the 20th century,” Elizabeth Lee Sample, one of the agents involved, said of the deal many years later. “It is a chateau in the sky.” Mr. Zweig decorated the apartment with highlights from his extensive collection of cultural memorabilia, including the dress Marilyn Monroe wore when she sang “Happy Birthday” to President John F. Kennedy at Madison Square Garden, gold records by the Beatles and a Chicago Bulls jersey worn by Michael Jordan. Mr. Zweig listed the property for sale at $70 million in 2004 but later took it off the market." R.I.P. http://www.nytimes.com/2013/02/22/business/martin-zweig-who-forecast-87-market-crash-dies-at-70.html [less]