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Mnuchin Lists Park Ave. Apartment For $33 Million, Three Times What He Paid For It
09-16-2018, 08:29 AM,
#1
Mnuchin Lists Park Ave. Apartment For $33 Million, Three Times What He Paid For It
Mnuchin Lists Park Ave. Apartment For $33 Million, Three Times What He Paid For It

<p>No sooner did <a href="https://www.zerohedge.com/news/2018-09-14/10-years-later-many-underwater-counties-have-not-escaped-housing-crisis">we report</a> that the housing "recovery" over the last 10 years has skipped many "underwater" communities in the United States, than we found confirmation of the opposite: Treasury Secretary Steve Mnuchin is selling his Park Avenue apartment in Manhattan for three times the price that his aunt paid for it 18 years ago. He has listed the apartment for $32.5 million. His Aunt is listed as the broker on the sale. </p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu1_0.jpg?itok=lnYFX1us" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu1_0.jpg?itok=lnYFX1us"><img data-entity-type="file" data-entity-uuid="c86e002f-0d59-49e9-a75b-ad2d6cebcfe0" data-responsive-image-style="inline_images" height="317" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu1_0.jpg?itok=lnYFX1us 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu1_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>The sale is happening <em>at the same time</em> that residents of numerous commuter towns across the United States have <a href="https://www.zerohedge.com/news/2018-09-14/10-years-later-many-underwater-counties-have-not-escaped-housing-crisis">seen</a> the values of their houses <em>collapse to less than half of what they were in 2006</em>, prior to the housing crisis.</p>

<p><a data-image-external-href="" data-image-href="https://www.zerohedge.com/sites/default/files/inline-images/reuters%201_0.jpg" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/reuters%201_0.jpg"><img data-entity-type="file" data-entity-uuid="03a664c7-3915-4569-a858-d6cd3351db4b" data-responsive-image-style="inline_images" height="319" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/reuters%201_0.jpg?itok=G9twL0cv 1x" typeof="foaf:Image" width="500" src="https://www.zerohedge.com/sites/default/files/inline-images/reuters%201_0.jpg" alt="" /></a></p>

<p>Mnuchin recently listed the 6500 square-foot, 12 room apartment that he bought from his aunt in 2000. It was purchased then for just $10.5 million. It had been in his family since the 1960s and, when he turns around to list the property this time, he stands to net $22 million more than what he paid for it, if his asking price is met.</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu3_0.jpg?itok=4EUYT0Mq" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu3_0.jpg?itok=4EUYT0Mq"><img data-entity-type="file" data-entity-uuid="2609217d-a4f1-4fce-afa4-ce48ea78b2eb" data-responsive-image-style="inline_images" height="382" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu3_0.jpg?itok=4EUYT0Mq 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu3_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>The apartment is being listed by Warburg Realty and is located inside of 740 Park Ave., inside the historic Rosario Candela building. Other famous former tenants of this building include the Rockefellers and the Kochs. Currently, Stephen Schwarzman, the CEO of Blackstone Group, lives there. The building was developed by Jacqueline Kennedy Onassis' grandfather.</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu4_0.jpg?itok=TopA2YDH" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu4_0.jpg?itok=TopA2YDH"><img data-entity-type="file" data-entity-uuid="83a7a1e5-703d-4490-841c-d721d5309abd" data-responsive-image-style="inline_images" height="390" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu4_0.jpg?itok=TopA2YDH 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu4_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu5_0.jpg?itok=3p1pygwf" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu5_0.jpg?itok=3p1pygwf"><img data-entity-type="file" data-entity-uuid="56fe3cbf-2fc7-47d5-b6ef-8d81ad489547" data-responsive-image-style="inline_images" height="342" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu5_0.jpg?itok=3p1pygwf 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu5_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>Other than that, it’s just your <em>average ordinary run of the mill apartment</em> on Park Avenue: five bedrooms, a wall wood paneled library, a wet bar, a formal dining room, a private elevator, 11 foot ceilings, marble floors and a sweeping spiraling staircase that still has its original banister.</p>

<p>The first floor of the apartment has six bathrooms and an 800 square-foot living room.</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu8_0.jpg?itok=51SeH33K" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu8_0.jpg?itok=51SeH33K"><img data-entity-type="file" data-entity-uuid="a65dfc4d-8e8d-4d3b-8ba8-3a81b7da412b" data-responsive-image-style="inline_images" height="381" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu8_0.jpg?itok=51SeH33K 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu8_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu9_0.jpg?itok=ZYPpvXPo" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu9_0.jpg?itok=ZYPpvXPo"><img data-entity-type="file" data-entity-uuid="f0a89d68-c880-4f23-9ae7-e0945167e55b" data-responsive-image-style="inline_images" height="390" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu9_0.jpg?itok=ZYPpvXPo 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu9_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>Upstairs, the apartment has a master suite, walk-in cupboards, study, two more bathrooms and three extra bedrooms. The apartment spans two levels in the building on both the eighth and the ninth floor and it also has a large kitchen with a "breakfast nook".</p>

<p>While that all seems extremely glamorous, <strong>Mnuchin hasn’t even used this apartment as his main residence, </strong><a href="https://www.dailymail.co.uk/news/article-6168773/Treasury-Secretary-Steven-Mnuchin-lists-Park-Avenue-apartment-Manhattan-32-5-million.html">reportedly</a>. Mnuchin was living in California before his appointment to the Trump administration, but has since bought a $12.6 million apartment in Washington DC.</p>

<p>We're glad to hear that Mnuchin was able to ride out the housing crisis successfully. We were worried about him for a moment.</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/mnu11_0.jpg?itok=tqTdqWfS" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/mnu11_0.jpg?itok=tqTdqWfS"><img data-entity-type="file" data-entity-uuid="393d883d-253c-43a1-a1a6-494174f01e1b" data-responsive-image-style="inline_images" height="372" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/mnu11_0.jpg?itok=tqTdqWfS 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/mnu11_0.jpg" alt="" typeof="foaf:Image" /></a></p><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/px5Wo3pLtEs" height="1" width="1" alt=""/>


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