Steven Mnuchin finally nabs buyer for $25M ‘world’s richest building’ pad

Real estate market booming for secondary houses

Many people are looking to buy second homes after being cooped up during the pandemic, causing housing prices to rise. FOX Business’ Ashley Webster with more.

Former U.S. Treasury Secretary Steven Mnuchin‘s apartment at the tony 740 Park Ave. has finally found a buyer, thanks to a hefty COVID discount. 

The swanky home first hit the market for $32.5 million in 2018 but was down to $25.75 million last August. 

Though its best perk may be its location inside "the world’s richest building," according to author Michael Gross, the 12-room duplex notably features five bedrooms and its own elevator landing.

Former U.S. Treasury Secretary Steven Mnuchin‘s apartment at the tony 740 Park Ave. has finally found a buyer, thanks to a hefty COVID discount.  (STAN HONDA/AFP via Getty Images)

STUDY: RESIDENTS LEFT BIG METROS DURING PANDEMIC FOR FAMILY

It also features 11-foot ceilings, multiple woodburning fireplaces, a large white chef’s kitchen and a curved staircase with the original banister.  

It’s on the building’s eighth and ninth floors. 

Mnuchin bought the home some 20 years ago from his aunt, Carol Terner Lederman, for $10.5 million. Terner Lederman, who declined comment, is also one of the listing brokers along with her daughter Judy Kloner, both of Warburg Realty. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The building was designed by Rosario Candela and developed by Jackie Kennedy Onassis’ grandfather, James T. Lee. 

It is one of the city’s most exclusive addresses. Past and present residents include Vera Wang, Blackstone Group’s Stephen Schwarzman and Leon Black, a co-founder and former CEO of Apollo Global Management, who came under fire for his financial relationship with pedophile Jeffrey Epstein. 

Source: Read Full Article