David Geffen Pays $54 Million for Duplex Penthouse – Record High for a NYC Co-op Apartment

Grammy-nominated songwriter and socialite Denise Rich, who recently renounced her American passport to save millions in U.S. taxes and now live in London has sold his ultra-lavish Fifth Avenue penthouse for $54million, $11 million less than asking price. Lucky buyer of this stunning penthouse on Manhattan’s Upper East Side, in which even the Prime Minister of Qatar showed his buying interest, is billionaire media mogul David Geffen. This deal between Rich and Geffen marks the highest price ever paid for a co-op in Manhattan!
  The co-founder of Asylum Records and DreamWorks, Geffen purchased the 12,000-square-foot duplex at 785 Fifth Avenue with an additional 5,000 square feet of exterior space with wrap-around terraces, making it one of the largest apartments in Manhattan. Located right outside of Grand Army Plaza, the Plaza Hotel, and Central Park, this luxury 7 bedrooms and 11 baths duplex boasts a grand salon with marble floors,11ft ceilings and custom mahogany doors on the upper level, while the lower level has a media room, billiard room, a gym and a professional recording studio. Currently, there are also a three kitchens, a wood-paneled library with wet bar and staff quarters. The dining room, which is off of the chef’s kitchen, can seat 22, and leads to one of three terraces.The master bedroom suite has a movie projector, a fireplace, and his-and-hers bathroom suites. Other features include a recording studio, an exercise room with a sauna and adjoining “hair salon,” and a private rooftop garden. David Geffen already owns an apartment in the same building, right below this newly duplex, but reportedly he isn’t satisfied with the space, so he plans to renovate it and sell it, once he moves into the duplex, which also plans to renovate.

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