IT TAKES UP three storeys, has a converted ballroom for a living room, and costs €95 million – and if it sells, it will set a new record for a New York City apartment.

The penthouse apartment at the Pierre Hotel on 5th Avenue overlooking Central Park is up for sale for $125 million – not including the furnishings and art – plus another $47,000 (€36,000) a month just for maintenance.

Just as a point of comparison – in as much as you can compare property prices in two very different cities – the most expensive house sold in Ireland went for €58 million on Shrewsbury Road in Dublin at the height of the boom in 2005. It was recently listed for sale for €15 million – a drop of €43 million.

As well as 360-degrees of Manhattan, the apartment comes with 5 bedrooms, a private lift and its own staff. Don’t start booking the appointment with the bank manager just yet, though: the New York Times notes that financing is not allowed, so the apartment will have to be bought in one transaction rather than with a mortgage.