If you’re going to spend big on a D.C. condo, spend real big. As in $1.95 million big. The Velvet Room alone will be worth it.

That’s how much a seven-bedroom, seven-bath, 8,500-square-foot penthouse along Cathedral Avenue NW in Wesley Heights is currently selling for, having been put on the market nine days ago. But these aren’t just any seven bedrooms. As you can see from the pictures above, the penthouse is vintage 1960s; “right out of a James Bond film!” boasts the ad.

Someone sent me the listing, and the look of the penthouse alone attracted my attention. After doing some digging, I discovered that it is being sold on behalf of George Washington University, which received it as a donation from a wealthy benefactor. And not just any benefactor, but Estelle Gelman, who died in 2009. In the 1980s she established an endowment in the name of her late husband, Melvin; the university’s library is named after him.

It was also her husband who in 1960 constructed the building—known simply as the Towers—where the penthouse is located. According to Best Addresses: A Century of Washington’s Distinguished Apartment Houses, the penthouse apartment was the biggest in Washington at the time, far surpassing a 5,500-square-foot penthouse in the Watergate complex. The building boasted a pool, restaurant, beauty parlor, grocery store, and drugstore; those have since closed. And then there was this:

When the Towers was new, according to one long-term resident, patio access to the lobby floor apartments meant that call girls could (and did) rent these units so customers could arrive and depart in privacy.

Want to live in this exclusive penthouse? Beyond the hefty price tag, be prepared to pay $7,000 in monthly condo fees. Also, you might have to spend some money updating the place; the last time it was redone was in 1981. (But don’t you dare touch the Velvet Room.)

Still, it’s not that expensive, at least relatively. A 5,000-square-foot five-bedroom unit in Kalorama Heights is priced at over $3 million, or $620 per square foot. The Wesley Heights penthouse is a steal at $228 per square foot.