By Larry Fine
NEW YORK (Reuters) - Apartment hunting in Manhattan can trigger depression for the budget-minded, but these are heady times at the top end as The New York Times reported on Friday that media mogul Rupert Murdoch is set to buy a Fifth Avenue triplex for $44 million -- in cash.
Murdoch, the billionaire chairman of the News Corp, has agreed to pay the asking price for the late Laurance Rockefeller's 20-room penthouse across from the Central Park Zoo, the newspaper said.
The deal marks a new high for the dizzying Manhattan real estate market, where the average selling price of an apartment now tops $1 million.
"For a million dollars you can say you're lucky to get a good two bedroom," said Kirk Henckels, director of the high-end Stribling Private Brokerage.
Henckels described Murdoch's future flat as "obviously one of the iconic apartments in New York," but added that the tycoon faced more costs for his dream home.
"It is going to need a total renovation," Henckels said. "But the bones are magnificent."
The rest of this article is here:
http://story.news.yahoo.com/news?tmp...e_apartment_dc and yes, this apartment is in the same neighborhood as the building with
Pale Male.
Murdoch Poised to Pay Record $44 Million for NY Pad
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