Package deal: 720 Park Avenue unit owners want to combine, sell pair for $43M

The duplex, which would be designed by architect Peter Pennoyer, could fetch $1K sf

New York /
Dec.December 11, 2018 10:00 AM

720 Park Avenue (Credit: CityRealty)

The owners of adjoining apartments atop 720 Park Avenue are attempting to sell the pair as a combined duplex for $43 million.

One owned by the former president of Macy’s, Jesse I. Straus, the duplex featured a grand walkway, high ceilings and a library. But in the 1970s, the home was cut in two and resold as singular apartments, according to the Wall Street Journal, which first reported on the duplex offer.

Now the current owners of the split apartments have hired architect Peter Pennoyer to design a recombination of them. Pennoyer reportedly estimates the new duplex could fetch $1,000 a square foot. However the two apartments on the 12th floor and 13th floors are also for individual sale, at $20 million and $23 million respectively, according to the Journal.

The 29-unit building was built in 1928. Around that time, Straus owned the duplex.

Last year, Scott Bessent, who has donated to President Trump, bought an apartment in the exclusive building for $19M. [WSJ] — David Jeans


Related Articles

arrow_forward_ios
In 2018, a Brookings Institution study found homes in majority-Black neighborhoods were undervalued by $48,000 on average. (iStock)
Appraisal Institute taking steps to root out racial bias
Appraisal Institute taking steps to root out racial bias
Jennifer Kalish was Elliman's top individual broker, while Holly Parker led the top team in Manhattan. (Douglas Elliman)
NYC’s biggest producers, top sellers in 2020 heralded quietly
NYC’s biggest producers, top sellers in 2020 heralded quietly
Chris Jiashu Xu and Long Island City's Skyline Tower. (Skyline Tower)
Closings underway at Queens’ tallest building
Closings underway at Queens’ tallest building
A unit at a Brooklyn Heights condo was the priciest deal last week. (One Clinton)
Brooklyn Heights condo is borough’s priciest deal signed last week
Brooklyn Heights condo is borough’s priciest deal signed last week
9 East 71st Street and Jeffrey Epstein (Photos via Getty)
Jeffrey Epstein’s UES townhouse in contract for around $50M
Jeffrey Epstein’s UES townhouse in contract for around $50M
(iStock/Illustration by Kevin Rebong for The Real Deal)
January home prices up 10% in biggest annual gain in 7 years
January home prices up 10% in biggest annual gain in 7 years
Joel Simkhai and a rendering of 215 East 19th Street (Photos via Getty, Gramercy Square/Woods Bagot)
Grindr founder snaps up Gramercy penthouse listed at $29.5M
Grindr founder snaps up Gramercy penthouse listed at $29.5M
Lydia Sussek and Howard Lorber (Corcoran, Getty)
Corcoran vet Lydia Sussek joins Elliman
Corcoran vet Lydia Sussek joins Elliman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...