New York pied-à-terre for Malcolm and Lucy Turnbull

Leading Sydney society power couple Malcolm and Lucy Turnbull have spent $US3.275 million on a glamourous Central Park West, New York bolthole.

It's in one of the iconic twin towered apartment buildings on Central Park West, The Century which has been described as a sophisticated art deco design built in the 1930s by Irwin Chanin.

It last traded in 2004 at $1,512,500. The two-bedroom, two bathroom apartment, with a much sought-after balcony terrace, had been listed with a $3.295 million asking price just 45 days earlier.

So no bargain unless the Picasso on the wall was thrown in.

It also sold 10 years ago at $860,000. The building's two bedders listed for sale range in price from around $1.3 million to $4.69 million with the current priciest offering having two very impressive terraces. 

The purchase has been the talk of the well-heeled political and diplomatic circles since Malcolm Turnbull was obliged to notify the House of Representatives pecuniary interests clerk, despite its purchase being in Lucy's name only. The ever alert SMH business section CBD columnist Scott Rochfort fleetingly advised the tip that Lucy had recently purchased in the context of her chairpersonship of the recently Nasdaq listed ovarian cancer vaccine developer Prima Biomed. Title Tattle notes the shares are down 70% since listing.

Of course Lucy's uncle, Robert Hughes, the art critic, writer and television documentary maker has resided in New York since 1970. Hughes and his wife, Doris Downes divide their time between a SoHo loft in New York City and at Briarcliff Manor, New York, at a five-bedroom farmhouse on nearly two hectares which Ms Downes purchased for $530,000 in 2000.

The 32-storey highrise, which spans the entire block from West 62nd to West 63rd Streets, was originally named The Century Apartments because it was built in 1931 on the former site of The Century Theatre.

It was converted to The Century Condominium in 1989.

Boasting three attended entrances, and a magnificent lobby with inviting landscaped terrace, it is also a pet friendly building.

There were 416 apartments and 52 unique layouts when it was built, approximately 406 units when it converted to condominium and today there are about 350 units.

New York estate agent, Irene Lowenkron at Brown Harris Stevens suggests The Century’s condominium status makes it an excellent investment destination for international buyers seeking a NYC pied-à-terre.

It had been the home of Jeffrey Meleski, chief growth officer for a social media firm and Steve Markov, president of a trend-forecasting company and their beagle, Jack.

Title Tattle gleans it's a 1,400 square foot apartment that includes 225 square foot terracing.

(Robert Hughes died in New York aged 74 on August 6.)