Several weeks ago, an 8,275-square-foot, 78th-floor penthouse in Manhattan's Time Warner Center came on the market -- and immediately earned itself the dubious distinction of being the highest-priced apartment listing in the city -- for a whopping $65,000,000.
And in a confluence that is just *too* New York to be believed, with this listing, the owner of the penthouse -- obscure investment firm executive Gerhard Andlinger -- now is at the center of two of New York's biggest residential property transactions.
First, let's discuss Andlinger's Time Warner Center listing, which is the first of the two high-priced situations. The New York Observer's Max Abelson broke the news of the listing back on November 13, although Abelson's post lacked a few details (e.g., the owner, his precise purchase price). Then, on November 21, the New York Times' Josh Barbanel picked up some of the slack in a fine article, being the first to out Andlinger as the unit's owner and providing an explanation by the Andlingers (through their broker) for exactly why they were listing the unit (Andlinger's wife had moved to New York temporarily to tend to the special education needs of her children -- needs that no longer exist).
In any case, records show that the Andlingers' Vero Beach, Florida-based 1954 Investments LLC company purchased the unit (which is known as STPH7 or STPH78, but in any case, PIN # 1049-1136) in March 2005 for $25,028,220, according to public records. While the unit is on the "78th floor," that's only, as the Times noted, through the "magic of elevator renumbering," since the Time Warner Center actually only has 54 floors.
Features in the $65 million unit include a 41-foot-long living room with floor-to-ceiling windows, 14-foot ceilings, a red lacquered corner library/office, a dining room that looks out on the Hudson River, a screening room, a chef's kitchen, four full bedrooms with en suite baths, and a master suite with an office, his-and-hers dressing rooms, his-and-hers baths, and a gym, according to listing information.
Check out an online listing sheet for the unit -- complete with photos.
Curiously, Andlinger also has been involved in another mega-deal this year in New York state. Andlinger's 1776 Investment Corporation reportedly sold an oceanfront estate on 5.9 acres in Southampton, N.Y. for a reported amount of $60,000,000 after it had been listed for $65,000,000. We had written about reports of this sale back in March, when we were simply rebroadcasting reports from elsewhere that the apparently buyer was golfer Tiger Woods. As it turned out, that estate, which is at 104 Gin Lane in Southampton and which has a 13,200-square-foot main house, may well have been purchased by a Tiger, all right -- Newsday reported not long ago that the buyer was a hedge fund executive and quite possibly Chris Shumway, who at one time worked for the hedge fund Tiger Management! The legal entity buying the estate, Newsday reported (and this is *not* yet in the public-records databases that we have access to), is something called South Lane Properties, LLC.
Andlinger's 1776 Investment Corporation had purchased the Southampton estate from "Chicago" producer Marty Richards in November 2003 for $23,000,000, according to public records.