The Real Deal New York

Former Merrill Lynch CEO’s penthouse at 740 Park asking $40M

Thain and his wife have used the residence as a pied-à-terre for several years
April 27, 2018 03:00PM

740 Park Avenue and John Thain (Credit: Getty Images)

Former financial executive John Thain hopes to sell his Upper East Side penthouse for $39.5 million.

Thain and his wife have used their duplex unit in the famed co-op building at 740 Park Avenue as a pied-à-terre for years but are looking to sell because they no longer spend much time there, according to the New York Times. The unit has monthly maintenance fees of $19,215.

Thain was previously an executive at Goldman Sachs, Merrill Lynch and the New York Stock Exchange, and he now serves on Uber’s board of directors.

He and his wife bought the penthouse in 2006 for $27.5 million from Enid A. Haupt’s estate. The building has served as the home to residents including John D. Rockefeller Jr., David Koch and Blackstone Group CEO Stephen Schwarzman.

The Thains spent two years renovating the place, taking steps such as reinstalling stairs going to the roof and refurbishing architectural finishes. The unit has three bedrooms, a roof deck and three terraces.

John Burger of Brown Harris Stevens is the listing broker.

“It’s a very elegant apartment,” he said to the Times. “You just don’t see these kinds of opulent details anymore.” [NYT]Eddie Small