You Can Buy Hugh Jackman’s Apartment for Only $38.9 Million
After living in his little NYC triplex for over a decade, Mr. Wolverine and star of The Music Man is selling his 11,000-square-foot abode. He’s asking $38.9 million for it. Why he didn’t just rounded it up to $39 million, I have no idea.
The apartment in question occupies three levels of the 15 level boutique tower known as 176 Perry Street. Mr. Jackman owns all of floor 8, 9 and 10. That’s over 11,000 square feet of living space. 176 Perry Street was designed by Pritzker Prize-winning architect Richard Meier. Mr. Meir also did the interior design on Jackman’s pad.
According to city records, Mr. Jackman and his wife purchased their five bedroom three level apartment on November 12, 2008 for $21 million. While it sounds like Mr. Jackman will make a killing if he gets the $38.9 million asking price, turning $21 million into $38.9 million over 14 years works out to 4.5% a year return, less after you take out commission and closing costs.
The 8th floor features a huge recreation room with terrace overlooking the Hudson River, 4 bedrooms with ensuite baths and a library/guest bedroom with half bath.
The 9th floor features a dramatic 51′ x 26′ double height great room with walls of windows overlooking the Hudson River. This floor also has a home office area, gas fireplace, professional gourmet kitchen and dining room/gallery.
The entire 10th floor consists of the primary bedroom suite, a studio/exercise area, luxurious spa bath, sauna and dressing areas. Each floor has a terrace and is connected by a work of art swirling staircase.
176 Perry Street is a full-service condominium with a state-of-the-art fitness center, full-time doorman, and concierge. Dining service can be provided by Jean-Georges Vongerichten’s Perry Street Restaurant, conveniently located inside the building.
As an added bonus, Mr. Jean-Georges will be your neighbor. In addition to the restaurant, the two star Michelin chef owns an apartment at 176 Perry Street. Other notable neighbors include Calvin Klein, who owns the top two floors, and Nicole Kidman, who bought the floor below Mr. Klein. While 176 Perry Street has 15 floors, there are actually only 10 units total. Needless to say, you will be in very exclusive company.
How Much Do You Have To Make To Afford This?
You might be wondering how much one has to make be able to to afford a $39 million apartment. Well, the $38.9 million is just the sale price. You also need to budget in $18,754 a month for property taxes and another $42,372 a month for maintenance and common charges (HOA). If you were to put 20% down and finance the balance over 30 years at 5.5%, your monthly payment would be $176,695.94, to bring your total monthly outlay to $237,821.94 (plus your $7.78 million down payment).
The general rule of thumb is your total housing cost should not exceed 1/3 of your income. So in order to afford Mr. Jackman’s apartment, you’ll need to be bringing in about $720K a month. If that’s you, then contact Corcoran Reality to schedule a showing.