One Hyde Park developer pays $35M for UES mansion

August 23, 2013 11:32AM

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.

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