Poor Burkle! The Billionaire Takes Out $12 M. Mortgage

You’d think a guy like Ron Burkle, a man with maybe $2.5 billion and a stake in P. Diddy’s clothing company (and, less glamorously, Pathmark grocery stores), would have enough cash for his New York apartment.

On the other hand, his new 11,000-square-foot triplex penthouse at 704 Broadway just cost him $17.5 million, as first reported by Mr. Burkle’s friends at The New York Post.

City records filed yesterday showed that Mr. Burkle took out a massive $12 million mortgage–from Deutsche Bank–in order to grab the apartment in September, which means his monthly payments are going to be upsettingly steep.

On the bright side, the market mogul has two professional kitchens, plus Jerry Seinfeld got married in his ballroom. And of course Sex and the City has filmed at his heated outdoor swimming pool, which happens to have its own “landscaped forest.” Poor Burkle! The Billionaire Takes Out $12 M. Mortgage