For $43M, restore two Gilded Age Upper East Side co-ops to their historic grandeur
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For $43M, restore two Gilded Age Upper East Side co-ops to their historic grandeur

December 11, 2018

A three-bedroom co-op in the Rosario Candela-designed 720 Park Avenue, the epitome of 1920s Gilded Age grandeur, is on the market for $20 million. It was once part of an even grander duplex that belonged to onetime Macy’s president and ambassador to France Jesse I. Straus. The lower unit is asking $23 million. The two owners are offering a $43M combo that could restore the home to its original impressive status with eight bedrooms and staff quarters that, according to the Wall Street Journal, include a flower room, a vegetable closet and a valet room where cuffs and collars were pressed.

Straus was a son of Ida and Isidor Straus, who was co-owner of R.H. Macy & Co.; The couple died in the sinking of the Titanic. The massive duplex was divided into two in the 1970s, when the city’s prospects had reached an all-time low, even in the most luxurious of neighborhoods. While recombining the two properties would be an ambitious project that would require co-op board approval, architect Peter Pennoyer has already been retained to create plans for joining the apartments.

720 park avenue, upper east side, historic homes, co-ops, cool listings

The 12th-floor residence even by itself is a home of, as the listing reminds us, “baronial proportions” with plenty of Park Avenue frontage. The sun-filled rooms await a new century of entertaining and gracious living with ceilings that reach nearly 15 feet, well-preserved hardwood floors and unique period details. The home’s private entry vestibule opens onto a grand gallery with a vaulted cathedral ceiling. The living room is highlighted by 18th century English wood paneling and a wood-burning fireplace.

720 park avenue, upper east side, historic homes, co-ops, cool listings

A massive dining room features three window bays; in the library, you’ll find a four-panel stained glass window set into a Gothic style stone window architrave.

720 park avenue, upper east side, historic homes, co-ops, cool listings

720 park avenue, upper east side, historic homes, co-ops, cool listings

A powder room with an ante-chamber and two coat closets are accessible from the entry hall.

720 park avenue, upper east side, historic homes, co-ops, cool listings

720 park avenue, upper east side, historic homes, co-ops, cool listings

720 park avenue, upper east side, historic homes, co-ops, cool listings

The home’s private quarters includes a master bedroom with city skyline and iconic Park Avenue views. Also here are a dressing room, a sunny study, and a palatial marble bath. A second bedroom offers an en-suite bath and a massive walk-in closet. A smaller third bedroom also features an en-suite bath.

720 park avenue, upper east side, historic homes, co-ops, cool listings

Adjoining the home’s large kitchen (not pictured in the listing) is a butlers’ pantry overlooking the trees of the Lehman Garden. The home’s generous staff quarters include a large bedroom with a bath and two additional bedrooms and another bathroom up a half-flight of stairs. A wine vault and storage area are also included in the sale.

[Listing: 720 Park Avenue #12A by Serena Boardman, Kerry Schmidt and Jonathan L. Banks for Sothebys]

[At CityRealty]

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Images courtesy of Sothebys.

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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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