Real Estate News Published November 15, 2012 By Eric Dale
Denise Rich's New York Penthouse Sells for $54 Million

In a record-setting deal, David Geffen has purchased Denise Rich's New York penthouse duplex at 785 Fifth Avenue for a cool $54 million. Given the fact that he lives within stomping distance (one floor below), the move should be relatively easy.

The 12,000 square-foot apartment is reportedly the largest ever offered on Fifth Avenue, and boasts 7 bedrooms, 11 bathrooms, 5,000 square feet of exterior space, and views of Central Park. “The upper level has a salon with 11-foot ceilings and custom mahogany doors. The lower level has a media room, a billiard room, a gym and a professional recording studio,” according to The Wall Street Journal.

After remodeling and moving into his new abode, David plans on selling his current apartment, which is located directly below the penthouse.

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Eric M. Dale has actively been involved in financing and investing for over 20 years. As the CEO of Capital Funding Corporation he has personally completed over $5 Billion in transaction funding and has consulted on numerous projects surrounding real estate and oil and gas.


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