Biggest Apartment Deal in '08, But Still Loses Millions

Who says money can't buy love? I'll love you...

Gerhard Anglinger, Princeton graduate and investor, sold his 5-bedroom, 8,300 square-foot penthouse at the Time Warner Center for half his asking price, and somehow he still managed to lock up one of the biggest apartment deals since last year.

The most expensive apartment in New York City dropped from $65 million to $37.5, an astonishing sum of money however you look at it.  Anglinger bought it for $25 million, so it was not a total loss. However, the remaining $27 million will be missed.

“Thirty-seven million is not chump change. That’s a lot of money to spend on an apartment.” Leighton Candler, who brokered the record-breaking $48.8 million co-op deal last year, told the Observer.

For this kind of money, there is no squeezing to fit your Ikea couch into the space. The master bedroom has its own office, his-and-her dressing rooms, his-and-her bathrooms, a gym, 41-foot long living room with floor-to-ceiling windows, a corner library covered in red lacquer, a dining room with a view of the Hudson River, a laundry center and pantry, and finally, all five bedrooms include their own en-suit bathrooms, respectively. Not too shabby.

What does it cost to maintain an apartment of such stature? Nearly $356,316, including real estate taxes.

The only question is, for all this money…where’s the pool?

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