Rental, apartments as hedge against inflation!
A Manhattan penthouse with a private rooftop swimming pool and hot tub is coming on the market for a staggering price of $36 million!
The sellers are hedge-fund manager Teddy Kang and his wife, Elise Kang.
The couple paid $16.76 million in 2017 for three floors at 55 West 17th Street in the Flatiron District. WSJ finds
The Kang’s worked with developer Toll Brothers City Living to assemble a three-floor unit, expanding the pool to more than 20 feet long, which also has a hot tub and two and a half floors were combined to create the stunning 6-bedroom penthouse, while the couple kept half of the remaining floor as a rental unit, that is not included in the listing, (when sold it sums up to 17$M profit plus half of the property remains intact to the hedge fund couple)
Apartment photo credit Compass.inc
The three floors of the apartment are connected by a sculptural spiral staircase coated in Venetian plaster, which was inspired by a staircase at the Edition Hotel on nearby Madison Square Park, Mr. Kang said.
A custom chandelier with brass chains cascades down the center of the staircase, rental agency Compass reveals
Apartment photo credit Compass.inc
The apartment includes;
a large living and dining space, and kitchen cabinet fronts made of hand-blown-glass, according to listing agent of Compass.
