Tour the Upper East Side penthouse where Sinatra used to host wild ragers with his Rat Pack

Architect Marvin Mitchell has bought Frank Sinatra’s former penthouse at the Edgewater building on 530 E. 72nd Street for a cool $US4.995 million.

Mitchell — who told The Wall Street Journal that he purchased the home for its spacious floorplan, not its history — takes ownership of the 3,200-square-foot, tri-level apartment just four years after the previous owner, Long Island car insurance executive Penny Hart, renovated it. Hart, who bought the home for a reported $US2.5 million and never lived in it, first listed it at $US7.7 million in 2012.

Seller Penny Hart had this glass staircase made to the exact specifications of those in the Apple stores.

Sinatra owned the penthouse from 1961 to 1972. He lived primarily on the West Coast so this was his East Coast party pad; rumour has it that Sammy Davis, Jr. used to chuck Champagne glasses off the terrace onto FDR Drive.

Sinatra entertained everyone from president John F. Kennedy to Dean Martin to Marilyn Monroe in the apartment.

The singer sold the apartment to his internist, Dr. Denton Sayer Cox, in 1972. Cox's client list included Sinatra, Andy Warhol, and Judy Garland, among other celebrities of the day.

Hart first listed the property unfurnished for $7.7 million. By 2013, she had completely refurnished it and dropped the asking price to $5.595 million.

The third-level master suite has its own bathroom, study, and East River views. Just below it, the second-floor lounge houses a wet bar, dressing room, and terrace with putting green.

Each of the apartment's four bedrooms includes a private bathroom.

Guest rooms are located on the first floor and have terrace access.

Now tour summer 2015's priciest Hamptons rental

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at