Who needs the Dynamo?

Inside Leslie Alexander's new $42 million New York penthouse: Rockets ownerlives record large

Artist rendering of the lobby.
18 Gramercy Park.com
Leslie Alexander dropped $42 million on the duplex penthouse — topping his ownManhattan real estate record of $31.5 million.
Photo by © Michelle Watson/CatchLightGroup.com
The property at 18 Gramercy Park, historically a hotel for women, is beingconverted into family-sized luxury apartments.
18 Gramercy Park.com
View from the 12th floor
18 Gramercy Park.com
Artist rendering of a living room at 18 Gramercy Park.
18 Gramercy Park.com
Artist rendering of a bedroom at 18 Gramercy Park.
18 Gramercy Park.com

That unspent Dynamo money must have been burning a hole in Leslie Alexander's pocket, because the Houston Rockets owner has just dropped big bucks on a New York City penthouse. The New York Post first revealed the $42 million sale — one that The Wall Street Journal notes "will be the highest price paid for a Manhattan apartment south of 59th Street" once the deal closes next year.

It's perhaps not as valuable as Donald Trump's gilded penthouse apartment atop Trump Tower but, if the artist renderings can be trusted, it will certainly be more tasteful.

The duplex penthouse has five bedrooms, four terraces, a pool and a whirlpool, in a former hotel for single women at 18 Gramercy Park.

Architect Robert A.M. Stern is converting the building into family-sized luxury apartments, the owners of which "have the privilege of purchasing an annual key to Manhattan's only private park, a stately and serene space rich with history."

Alexander's most recent real estate purchase follows the recent flipping of an unfinished penthouse on the Hudson River, which he had designed to his specifications. He bought that property for $25.4 million in Sept. 2009, put it back on the market the following week and sold it for $31.5 million a year later — allegedly the highest price then recorded for a downtown Manhattan condo.

The Rockets owner also has an oceanfront home in Southampton, N.Y., where he spends half of the year.

Take a tour of the penthouse below:

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spacious memorial mansion

Striking French-inspired Houston estate hits market for $12.5 million

TK Images for Martha Turner Sotheby’s International Realty

412 Timberwilde Lane sits on more than two acres in Hunters Creek Village and is on the market for $12.5 million

A magnificent estate awaits in one of Houston’s most desirable neighborhoods. 412 Timberwilde Lane is a stunning brick and limestone home, inspired by French country manor houses. It’s on the market for $12.5 million and represented by Jay Monroe and Stephen Warrell ofMartha Turner Sotheby’s International Realty

Nestled on nearly 2.5 acres of meticulously manicured grounds in exclusive Hunters Creek Village, this home blends old world elegance with modern amenities, including 24/7 private security. The grand foyer’s soaring ceiling sets the tone upon entry, announcing that 412 Timberwilde Lane is something special.

Consider the formal library, with its rich, paneled walls and cross-beam ceiling, and the spacious dining room with its cozy fireplace. The living room offers breathtaking views of the rear gardens, pool, cabana, and tennis courts. Just off the kitchen, a light-filled breakfast room is a perfect place for morning coffee and admiring the grounds.

The primary suite is the embodiment of luxury, with dual bathrooms and ample closet space, ensuring comfort and convenience. This private oasis is a place to unwind and relax.

The home’s second floor offers a floor plan that can be tailored to suit any lifestyle. The bedrooms are generously sized with large closets and private baths. A playroom with a built-in playhouse castle makes for a perfect spot for kids’ imaginations to run wild. Other rooms could be utilized for a second home office, exercise room, yoga retreat, crafting space, or whatever else a family might need.

The third floor offers a game room featuring a wet bar, billiards area, and a big-screen TV, making it the ultimate place to relax and have fun with family and friends. The outdoor areas include an in-ground pool and summer kitchen, perfect places.

This one-of-a-kind estate offers an array of amenities for living and entertaining. Its location is both convenient to the city and a restful retreat.

Photo by TK Images for Martha Turner Sotheby’s International Realty

412 Timberwilde Lane sits on more than two acres in Hunters Creek Village and is on the market for $12.5 million.

home-for-sale