Starbucks Chairman and CEO Howard Schultz, who is relinquishing his CEO position this spring, has reportedly bought a $40 million penthouse in New York City. But no, the Brooklyn-raised billionaire is not moving to the Big Apple.

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Starbucks Chairman and CEO Howard Schultz, who is relinquishing his CEO position this spring, has reportedly bought a $40 million penthouse in New York City. But no, the Brooklyn-raised billionaire is not moving to the Big Apple.

Schultz is paying $7,159 per square foot for the priciest unit at Greenwich Lane, a condo in Greenwich Village, according to The Real Deal.

Starbucks said Friday that “Howard is not moving to New York.” But the coffee company declined to confirm whether he bought the Greenwich Village condo, saying “we have nothing further to share on his personal matters.”

The Real Deal reports that Schultz’s penthouse duplex, which occupies the 16th and 17th floors of the building and has a wraparound outdoor terrace, measures 5,587 square feet.

Schultz is set to step down from the CEO position April 3, handing the reins to Kevin Johnson, Starbucks’ president and COO.

Schultz will remain involved at Starbucks as executive chairman, focusing on building the company’s more premium businesses, including its showpiece high-end Roasteries, and a new line of Reserve stores, which will sell and brew the company’s small-lot premium coffees.

Schultz “will continue to be compensated as an executive officer upon his transition to the role of executive chairman,” rather than as strictly a board member, when he steps down as CEO in April, Starbucks said in its proxy statement filed earlier this year.