Real Estate / Mansions

Manhattan’s Swankiest Penthouse?

$45 Million Sky-High Palace Put On Sale by International Fashion Sisters

BY // 08.13.15

Penthouse living evokes visions of stunning views and luxury perks galore. But it turns out there’s penthouse living — and then there’s penthouse living.

A Manhattan penthouse on the market for $45 million — yes, $45 million — takes this already ultra-exclusive real estate subset to new heights. And it comes with a fashion tie. The Gucci Sisters own this palace in the sky, and after renting it out for $60,000 a month (there’s a current tenant happily paying that freight), they are ready to really cash in. To the tune of $45 million.

And you thought a Gucci handbag was expensive?

Alessandra and Allegra Gucci — whose own story reads like something out of a Lifetime Movie, including the horrific hitman murder of their father and subsequent jailing of their mother for orchestrating the plot — no longer have need for a show-stopping New York penthouse.

“Now we’ve grown up, our needs have changed and we spend most of our time in Europe,” the sisters say in a joint statement. While the sisters’ late father, Maurizio Gucci, was the former head of the famous fashion house, Alessandra and Allegra have no role in the company. Gucci was sold off to the Paris-based Kering Group in 1999.

Who doesn’t want to know what you get in a $45 million penthouse?Still, their name carries clout in the fashion world and this penthouse listing is drawing plenty of attention in those circles.

Holiday Gifting

  • Loeffler Randall - Clutch
  • Nocturne Studio
  • Oscar De La Renta - Earrings
  • Bond No 9 - Candle
  • Mariquite Masterson
  • Bond No 9 - Perfume
  • Mariquite Masterson
  • Cle Du Peau - Nail Polish
  • Loeffler Randall - Shoes
  • Casa di Lino
  • Oscar De La Renta - Clutch
  • Cle Du Peau - Lip Gloss

It’s two full floors to yourself (it’s a mashup of two original units), two kitchens (one for your staff), two private elevators, seven bedrooms and seven bathrooms. Oh, and did we mention the sweeping views of One World Trade Center, the Chrysler Building and the Empire State Building?

The penthouse sits atop the Olympic Tower on Fifth Avenue in Midtown Manhattan. The Gucci Sisters’ father had the foresight to buy the place back in 1970, a completely different era in New York real estate pricing.

Now, Alessandra and Allegra Gucci are testing the limits of today’s Manhattan high-rise market. An apartment on the 33rd floor (17 floors below the start of the Gucci penthouse) sold for $4.95 million earlier this summer, the Wall Street Journal notes.

Of course, that’s not penthouse living.

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