In 2014, Joan Rivers left a Manhattan penthouse worth $28 million; after relisting for $38 million later, it eventually took a $10 million price cut

Luxury homes often carry stories that go far beyond their architecture, especially when they have been connected with popular owners. Joan Rivers’ former Manhattan penthouse is one such property that combines elaborate French-inspired interiors, extensive entertaining spaces and a history of changing ownership and asking prices.

The three-level residence at 1 East 62nd Street on Manhattan’s Upper East Side was once the longtime home of Rivers, who lived there for 25 years until her passing in 2014. After being listed for substantially more in recent years, the property returned to the market with a significant price reduction.

A Historic Manhattan Residence

The penthouse sits atop a limestone mansion designed by renowned architect Horace Trumbauer. The building, called the Spencer Condominium, was designed in 1904 for millionaire John Drexel and was converted into 12 apartments in the 1930s.

The residence spans around 433 square metres and is almost 42 feet wide. It contains five bedrooms and 5.5 bathrooms, alongside a corner library and a formal dining room featuring 18th-century French panels.

Rivers bought the property in 1988 following the passing of her husband, Edgar Rosenberg. During her years there, she filled the home with antique furnishings and ornate Versailles-inspired decoration.

Rivers’ Distinctive Style

The comedian had a memorable way of explaining the apartment’s lavish interiors.

Rivers once called the home “what Marie Antoinette would have done, if she had money,” and compared its design to “Louis XIV meets Fred and Ginger,” as 6sqft earlier reported.

The home also had an unusual story attached to it. Rivers believed that the ghost of J.P. Morgan’s niece haunted the apartment, an experience she discussed in a 2009 episode of “Celebrity Ghost Stories.”

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A History of Changing Prices

Rivers initially put the property on the market for $25 million in 2009. It was later listed for $29.5 million in 2013.

Following Rivers’ passing in September 2014, her daughter Melissa inherited the apartment and listed it in February 2015. Reportedly, Prince Mohammed bin Fahd Al Saud bought the home that year for $28 million.

The penthouse then returned to the market at a much higher price. In 2021, it was listed for $38 million, but it did not find a buyer.

The asking price was subsequently reduced to $34.5 million before the property returned to the market again at $28 million. The latest price features a $10 million reduction from the $38 million asking price in 2021.

Reportedly, the listing now is managed by Compass agents Zina Raslan and Carl Gambino. The New York Post first reported on the recent price cut.

Views and Historic Character

One of the residence’s significant features is its combination of historic architectural elements and views of Manhattan.

The primary suite’s south-facing terrace overlooks nearby Central Park, while the library also offers views toward the park and the Manhattan skyline.

The home’s original details include its parquet flooring, decorative paneling, columns and French-inspired interiors, which contribute to its distinctive character.

From Joan Rivers’ Home to a High-Value Listing

Rivers spent years in the penthouse, making the property closely connected with her personal style and larger-than-life personality.

After her passing, the apartment changed hands and later returned to the luxury real estate market. Its asking price moved from $28 million in 2015 to $38 million in 2021 before successive reductions brought it back to $28 million.

The latest listing therefore mirrors a $10 million decrease from its 2021 asking price.

Despite the changes in ownership and price, the home retains many of the elements that made it distinctive during Rivers’ years there: grand rooms, French-inspired decoration, historic architectural details, private outdoor spaces and views of Central Park and Manhattan.

The New York Post reported the recent price reduction, while 6sqft earlier reported Rivers’ descriptions of the apartment and the sale to Prince Mohammed bin Fahd Al Saud.

Source: Elite Agent and 6sqft