Steve Mnuchin’s 740 Park pad just got another price cut

The 6.5K-sf home has been in his family since the 1960s

TRD New York /
Sep.September 11, 2019 08:30 AM
Steven Mnuchin and 740 Park Avenue (Credit: Getty Images, Wikipedia, and Warburg Realty)

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

U.S. Treasury Secretary Steven Mnuchin has slashed the price of his family’s 6,500-square-foot luxe co-op on the Upper East Side to $27.5 million.

Mnuchin put the home, located at 740 Park Avenue, on the market a year ago for $32.5 million. In January, the listing took an initial price cut down to $29.5 million.

Warburg Realty and listing agents Judy Kloner and Carol Lederman declined to comment. An inquiry to Mnuchin’s press team was not immediately returned.

The $5 million chop comes as many pricey residential homes around the Big Apple have been selling at discounts to what they had originally been asking. Though in June, residential sales saw a bump as buyers rushed to close on deals before the imposition of new mansion and transfer taxes in July.

Mnuchin’s five-bedroom, 12-room duplex has a private elevator landing, 11-foot ceilings and marble floors, according to its listing. It also has a curved staircase with its original banister.

The co-op has been in the Mnuchin family since the 1960s, and Mnuchin bought the unit from a relative nearly two decades ago for $10.5 million.

Jacqueline Kennedy Onassis’s grandfather James T. Lee built the Rosario Candela-designed building in 1929. The 19-story coop, which sits on the corner of 71st Street, has seen some famous residents over the years, from the Rockefellers to the Kochs. In July, developer William Zeckendorf sold his 17th-floor apartment at the property for $29.5 million.

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