An Upper East Side address that counts Rockefeller and Kennedy Onassis among the names of former residents might soon add Koch to the list.
Julia Koch, widow of the late billionaire David Koch, is shopping the couple’s apartment at 740 Park Avenue for approximately $60 million, the Wall Street Journal reported. A spokesperson for Koch told the outlet she is looking to sell as she spends more time at her Southampton and Palm Beach homes.
A successful sale with the current asking price would be a healthy markup on the 18-room duplex, which Koch’s late husband purchased in 2004 from the Japanese government for about $17 million, outbidding fellow billionaire Leonard Blavatnik.
But flashy price tags have not always succeeded at the well-heeled building. A co-op unit belonging to former Treasury Secretary Steven Mnuchin went through years of price chops before selling, and real estate developer William Zeckendorf in 2019 sold his 17th-floor unit at the building for a modest gain.
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The Corcoran Group’s Leighton Candler is marketing the property, according to the Journal.
David Koch, a longtime New Yorker who died in 2019, sparked headlines in recent years for eye-watering deals in high-profile enclaves. The couple in 2018 bought a 36-foot wide townhouse on East 76th Street for $40 million, at which time sources said their 740 Park Avenue unit would likely hit the market.
Manhattan’s luxury market shattered sales records in 2021. The year was lifted by one of the largest home sales in American history as billionaire Joe Tsai dropped $157 million on a pair of condo units at 220 Central Park South. Four other sales closed near $60 million and above last year.
[WSJ] — Orion Jones