While Cheryl Mercuris may be a self-made multimillionaire the direct marketing guru is finding it extremely difficult to sell her apartment at the Time Warner building. The official address is Apartment 54AG at 25 Columbus Circle and after first listing the property for $50 million in 2013, then dropping it to $42.5 million in 2014 it is now on the market for a “cut-price” $16 million. That is a 68% reduction on the initial asking price and so far no sale contract has been signed. So, what do you get for $16 million in the Time Warner building?
Cheryl Mercuris actually bought two apartments in 2004 and 2008 for a combined $11 million, merging them both into a penthouse. The penthouse itself is split between the 54th and 55th floor of the building and while she will still make a significant profit at a cut-price $16 million, it is hard to understand why it is proving so difficult to sell. These are much sought after apartments and we can only assume that the lack of buyers is a reflection of the current market conditions.
What do you get for $16 million?
In basic terms the property has four bedrooms and four bathrooms together with a chef’s kitchen and floor-to-ceiling windows throughout. These floor-to-ceiling windows are becoming more commonplace in luxury apartments giving a breath-taking view from what must feel like on top of the world. The selling agent has changed on numerous occasions as Cheryl Mercuris “becomes more serious” about selling the penthouse so we get different angles and different opinions each time.
The combination of the two apartments into one luxury penthouse means that the lower floor houses the master bedroom which is connected by a spiral staircase. This is an excellent area in which to relax and chill out why looking over some of the best views that money can buy.
Subtle decor throughout
Even just the quickest of glimpses at some of the images from the sales brochure show you that this is a luxury penthouse where no expense has been spared. The combination of wood and marble floor contrasts with dark and light, a feature which is prominent throughout the property. The kitchen is an eye to behold with plenty of storage space, the latest cooking gadgets and more than enough space to work in comfort. This then leads us onto one of the main living areas which again offers an exquisite look over the city – not for those without a head for heights!
It is interesting when we talk about “bathrooms” when looking through these luxury properties because many are the size of bedrooms and living rooms combine. The master bedroom ensuite is extremely spacious, luxurious, taking in a top of the range bath and an expanded shower area. In reality it is not difficult to see why those with money decide to invest in such luxury living quarters – they are a joy to behold.
Will the property sell this time?
We have seen a massive reduction in the asking price from 2013 and at this moment in time no contracts have been signed. Surely somebody will step forward to grab this luxury penthouse? A reduction of $34 million must count for something?