HOUSE OF THE DAY: Late Investor Martin Zweig's Magnificent Penthouse Now Selling For A Discounted $US95 Million

The penthouse of New York City’s Pierre Hotel hit the market for a record$125 million in late April.

But the property, which belonged to late investor Martin Zweig, has yet to find a buyer, and recently had its price slashed by 24% to $US95 million, according to The New York Daily News.

Zweig initially listed the apartment for $US70 million in 2007 but later pulled the listing; he died in February.

The apartment encompasses three floors and was originally the hotel’s ballroom.

The 16-room spread is listed with Sotheby’s International Realty.

The apartment is a triplex, taking up floors 41, 42, and 43 of the Pierre.

It formerly housed the famous hotel's ballroom, and 'the living room is considered the most magnificent privately owned room in the world,' according to the listing.

There are 16 rooms in total, including five bedrooms.

It offers 360-degree views of Manhattan.

The apartment has four adjoining terraces -- a rarity in NYC.

The apartment has its own interior elevator.

There are separate guest suites and staff quarters, as well.

Even if it sells for the reduced $US95 million asking price, it will be one of the most expensive private residence ever sold in New York City.

The Pierre, located on 61st Street and Central Park, is one of the most iconic properties in New York City.

Now see how this apartment stacks up.

NOW WATCH: Executive Life videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.