Treasury Secretary Mnuchin just listed his home at 740 Park

The 6.5K sf unit has been in the treasury secretary's family since the 1960s

Sep.September 13, 2018 02:18 PM

Steven Mnuchin and 740 Park Avenue (Credit: Getty Images, Wikipedia, and Warburg Realty)

The storied building at 740 Park Avenue has been home to some of the country’s most powerful families like the Vanderbilts, the Rockefellers and the Kochs.

It has also been in Treasury Secretary Steven Mnuchin’s family since the 1960s. Now, Mnuchin is looking to sell his family’s 6,500-square-foot residence, asking $32.5 million, the Wall Street Journal reported.

The luxury building on East 71st Street has a long and distinguished history in New York, and recently has also been home to Ronald Lauder, Stephen Schwarzman and Vera Wang.

Mnuchin reportedly bought the five-bedroom pad from his aunt, Carol Lederman, for $10.5 million in 2000. But the unit, spread over 12 rooms and two floors, did not serve as Mnuchin’s primary home. He was based in California as a Hollywood financier. Carol Lederman, a broker for Warburg, is also the listing agent.

In April, the former Merrill Lynch CEO John Thain listed his penthouse there for $39.5 million. In 2004, David Koch paid $18 million for an 18-room duplex in the premises. [WSJ] — David Jeans

Related Articles

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alexandria Ocasio-Cortez, Bernie Sanders and Elizabeth Warren

By the numbers: Breaking down national housing agendas from the far left

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone just sold off a 29M sf national industrial portfolio

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest