The Real Deal New York

First a fire, now a naked building: 740 Park Avenue to shed facade for repairs

The posh UES building has seen better days

May 26, 2016 07:30AM
By Kathryn Brenzel

740 Park Avenue

An artistic interpretation of the broken facade at 740 Park Avenue

One of the most exclusive addresses in New York City is also a hot mess.

Nearly two months after a fire ripped through a sixth-floor apartment at 740 Park Avenue, the Upper East Side co-op is being stripped of its limestone facade. The city this week approved a permit to remove the iconic Art Deco building’s stone facade to replace the anchors holding it in place, according an application filed with the city’s Department of Buildings. The application for the work was filed two months after officials were called to the building in July on reports that parts of its facade were crashing to the ground.

Michael Gross, author of “740 Park: The Story of the World’s Richest Apartment Building,” reported on his website Wednesday that the metal brackets holding the stone in place are rusting and causing the limestone blocks to plummet.

The panels will be “removed with care” and reinstalled with new stainless steel panels, the application states.

Representatives for the co-op’s board could not immediately be reached for additional information.

The work — and the 184 feet long “heavy duty sidewalk shed” that is to accompany it — may not be exactly welcome news to the co-op’s billionaire residents, some of whom were displaced by July’s fire. The blaze reportedly started in a sauna in the apartment of Ezra Merkin, former associate of Bernie Madoff. Page Six reported that the fire forced David Koch and his wife to live in a hotel while their water-logged home is repaired.

The home, which features a who’s who of hedge funders, fashionistas and heirs, is known as one of the most exclusive co-ops in the city. Applicants need to show at least $100 million in liquid net worth before being considered as a potential resident, according to Gross’ book.

Luxury Listings NYC in March detailed who lives at the famous address.

Correction: A prior version of this report incorrectly stated the building is on the Upper West Side.

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