Howard Schultz buys $40 million NYC penthouse

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Howard Schultz, who recently stepped down as CEO of Starbucks, has reportedly bought a new home in NYC
The luxury duplex costs $40 million and is located in the Greenwich Lane neighborhood
The apartment has been dubbed the 'jewel box in the sky,' with its expansive views across Manhattan

Published: 01:52 EST, 12 February 2017 | Updated: 02:26 EST, 12 February 2017

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Though he will be stepping down from his position as CEO of Starbucks, Howard Schultz clearly isn't strapped for cash.

The businessman recently shelled out a cool $40million for a new penthouse in the Greenwich Lane development in New York City, according to The Real Deal.

The duplex has been dubbed the 'jewel box in the sky,' with wide windows surveying the length of Manhattan.

Though he recently stepped down from his position as CEO of Starbucks, Howard Schultz clearly isn't strapped for cash

The businessman recently shelled out a cool $40million for a new penthouse in the Greenwich Lane development in New York City, according to The Real Deal

The duplex has been dubbed the 'jewel box in the sky,' with wide windows surveying the length of Manhattan

Though the ten-figure real estate is incomprehensible for many, Schultz reportedly bought it for a discounted price from the original $45million listing.

The property occupies the 16th and 17th floors of the 155 West 11th Street, and measures at 5,587 square feet.

A price to space ratio reveals the luxury residence costs about $7,159 per square foot.

The property reportedly bought by Schultz occupies the 16th and 17th floors of the 155 West 11th Street, and measures at 5,587 square feet

Though the ten-figure real estate is incomprehensible for many, Schultz reportedly bought it for a discounted price from the original $45 million listing

The property occupies the 16th and 17th floors of the 155 West 11th Street, and measures at 5,587 square feet

The self-made billionaire announced in December he is handing over the reins of Starbucks 30 years - after buying it and turning it from a fledgling company with four stores to a massive chain with 25,000 franchises worldwide.

Starbucks is estimated to be worth $85billion, according to Forbes.

Schultz, a Brooklyn native, is said to have a personal net worth of $3.1billion.