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$54M for the Most Expensive Manhattan Co-Op

An ultra-lavish penthouse on New York City's Fifth Avenue, previously owned by socialite Denis Rich, was recently purchased by media mogul David Geffen, at the incredible price of $54 million U.S. Dollars, making this co-op Manhattan's most expensive. Even the Prime Minister of Qatar showed interest when the penthouse was put on the market but was not granded permission to purchase. The 12,000-square foot property was listed back in January for $65 million by Ms. Rich. It overlooks Central Park and occupies the top two floors of the Parc Cinq Cooperative on Fifth Avenue. It boasts 11 ft ceilings, mahogany doors, seven bedrooms, eleven bathrooms, three kitchens, a library, a wet bar and staff quarters. Also, a dining room that can sit up to twenty two people and three terraces. The master bedroom is equipped with a movie projector, fireplace and two bathroom suites. David Geffen, the new owner, is an ambitious music and movie executive worth $5.6 billion dollars with an empire that includes Geffen records and Dreamworks. He also owns an apartment right below the duplex and reportedly has plans to renovate the penthouse.