The Real Deal New York

Blackstone chief’s daughter buys Park Ave. triplex for $35M

The co-op penthouse at 775 Park was asking $40M

May 06, 2015 12:21PM
By Rich Bockmann

From left: Elizabeth and Andrew Right, 775 Park Avenue and Stephen Schwarzman

From left: Elizabeth and Andrew Right, 775 Park Avenue and Stephen Schwarzman

Now she can be neighbors with dad.

Elizabeth (Zibby) Right, the daughter of Blackstone Group founder and 740 Park Avenue resident Stephen Schwarzman, has bought a triplex penthouse on Park Avenue for roughly $35 million.

Zibby and her husband Andrew Right closed on the six-bedroom co-op at 775 Park Avenue last month, according to records filed with the city today.

Sellers Charles and Candace Phillips were asking $40 million for the home when it hit the market back in January with Sotheby’s International Realty’s Mary Kent.

The unit was recently restored to the original design of the building’s architect, Rosario Candela, who built the 14-story Upper East Side co-op in the 1920s.

The penthouse includes eight fireplaces, an interior elevator, a wood-paneled library with views of Park Avenue and a spiral staircase leading to what was at one point the original staff quarters.

Zibby and Right met at Harvard while pursuing business degrees, and were married in 2005 at the Upper East Side’s Central Synagogue.

Schwarzman, who Forbes estimates is worth $13 billion, is a longtime resident of 740 Park, sometimes referred to as the world’s most powerful apartment building.

Blackstone has made a number of headline-grabbing real estate moves lately, including its $2 billion sale of the Waldorf Astoria to Chinese insurer Anbang, and the $23 billion purchase of General Electric’s real estate holdings.