One Hyde Park developer pays $35M for UES mansion

From left: Adam Modlin, 19 East 70th Street and Christian Candy
From left: Adam Modlin, 19 East 70th Street and Christian Candy

Christian Candy, the co-developer of London’s One Hyde Park — which Vanity Fair calls “the world’s most expensive residential building” — has paid $35 million for a Renaissance-style mansion on the Upper East Side.

The 30-foot-wide, 17,000-square-foot home on 19 East 70th Street dates to 1909. The eight-bedroom, seven-bathroom pad features multiple fireplaces and terraces.

The property will be renovated and converted into a single-family residence.  The ultraluxury condominium developer will then “hold the asset as a long-term investment,” he said in a statement to the Wall Street Journal.

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Adam Modlin of the Modlin Group had the listing for the property. The sellers were undisclosed to the Journal, but they had bought the mansion in 2011 for $31 million from the Knoedler Gallery. It was listed for $38 million in July 2012, as The Real Deal reported.

Candy paid $25.9 million last year for a triplex penthouse at The Plaza; he put that apartment on the market this past June for $59 million. [WSJ, 4th item]  – Hiten Samtani