A 5,500 square foot penthouse at the top of the Trump International Hotel and Tower in New York City is set to sell for a reported US$18 million. The unit was owned by Italian film mogul Vittorio Cecchi Gori, but was foreclosed on and is being dealt with through US Bankruptcy Court in Manhattan. There is one interested buyer, but if more emerge then it will probably be sold through an auction at the court.
The apartment is essentially a shell, with little more than walls and ceilings in place, and is in need of extensive renovations. It has ceilings up to 20 feet high and spectacular views of midtown Manhattan from Central Park to the Hudson River. If it was built out it would command significantly greater money. Jane Beasley, who was married to GE chairman Jack Welch, has listed her 47th floor unit in the same building, with 3,660 square feet, for $28.8 million.
Mr. Cecchi Gori purchased the penthouse in 1998 for $10.4 million and then, in 2001, he proceeded to gut it. He bought it from Donald Trump, who had purchased it a year earlier for $5 million, but put it up for sale after he separated from Marla Maples. Cecchi Gori has produced a number of Italian films, including “Il Postino” and “Life Is Beautiful,” but has had financial difficulties recently.
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