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

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

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

From left: 515 Park Avennue, Soori High Line, One Beacon Court, 53 East 67th Street and 15 Hudson Yards (Photos via Douglas Elliman, Compass, StreetEasy, Hudson Yards, Apartments)

Priciest homes to hit market include an UES building prime for mansion conversion

166 E. 81st St. (Credit: Google Maps, iStock)

UES townhouse once described as “infested with vermin” goes into contract

Marie-Chantal Miller, the Crown Princess of Greece, and her husband Pavlos, the Crown Prince with 385 Great Plains Rd, Southampton, NY  (Credit: Getty Images)

Royal couple buys sprawling Southampton mansion