Murdoch Poised to Pay Record $44 Million for NY Pad

[PhiPsiRuss]

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.

[WCUgirl]

I've never heard of this Rupert Murdoch guy, so when I saw this thread title, I thought it was referring to this guy:

[Peaches-n-Cream]

Is this in the Pierre? I know that they have a $45 million dollar apartment. There are one bedroom co-ops down the block from me that go for the bargain basement price of $1.6 million.

[PhiPsiRuss]

Originally posted by Peaches-n-Cream
Is this in the Pierre? I know that they have a $45 million dollar apartment. There are one bedroom co-ops down the block from me that go for the bargain basement price of $1.6 million.

No, but speaking of the Pierre, the Plaza just announced that their top floors are going condo. Word on the street is that the one bedrooms in the Plaza will go for a lot more than 1.6.

[moe.ron]

Herd Murdoch was leaving Australia. Guess this proved it. His son now runs News Corp.

I'm not surprised. He already owns practically all of the Island of Lanai.

[epsilon99]

I heard Mary Tyler Moore is selling hers a few doors down for $16M.

[PhiPsiRuss]

Originally posted by epsilon99
I heard Mary Tyler Moore is selling hers a few doors down for $16M.

Only $16M? That's a bargain. I'll take two.