James T. Lee, Jacqueline Kennedy Onassis‘ grandfather, was a prolific NYC developer at the beginning of the 20th century, bestowing upon the city some of its most elegant co-ops like 998 Fifth Avenue and the Rosario Candela-designed 740 Park Avenue. He himself took up residency in the latter building when it was completed in 1930 and gifted another apartment in the Upper East Side building to his daughter Janet and her husband John V. Bouvier; Jackie O lived there with her parents between the ages of two to seven. In more recent years, hedge fund manager David Ganek and his wife bought the duplex in 2005 for $19.1 million, using it to also showcase their impressive modern art collection. The couple first listed the home for $44 million in 2014, and after several price chops, it’s finally sold $25.25 million reports the Journal. Jacob M. Safra of the billionaire Safra family, of Brazilian banking fame, is the buyer.
There have been some big price chops for an apartment at 740 Park Avenue, one of New York’s most iconic co-ops, once lived in by Jacqueline Kennedy Onassis herself. The former first lady—whose grandfather developed 740 Park in 1929—lived in this apartment between the ages of two to seven. It is now owned by David Ganek, a hedge fund manager, who has used the Rosario Candela-designed co-op as a home for his impressive modern art collection. He first listed it in 2014 for $44 million, and now it’s on its third price chop down to $29.5 million.
6sqft has already taken a look at the posh Upper East Side building where Jacqueline Kennedy Onassis grew up, and now we can go inside the 100-year-old Hamptons estate where she spent her childhood summers. As the Wall Street Journal first reported, the 11-acre property in East Hampton known as Lasata is currently owned by fashion designer and former Coach executive Reed Krakoff, who’s listed the entire Arts and Crafts-style residence for more than $50 million.
It doesn’t get much more classic Upper East Side than this two-bedroom, sixth-floor co-op on a quietly elegant street just off Park Avenue. The limestone-anchored 1928 building at 125 East 74th Street, designed by Lafayette A. Goldstone, as the NY Post informs us, was the early childhood home of Jacqueline Kennedy Onassis. Unit 6A in this pretty prewar building is on the market for $1.39 million. Famous associations aside, the gracious layout of the apartment, which started out having eight rooms and was reconfigured to its current five-room state, looks to be a pretty good deal for the price given its size and location.
Real Estate Wire: How to Turn a Bed-Stuy Church Into Condos; Another Real Estate Bubble on the Horizon?, Wed, July 16, 2014
- Smart adaptive reuse or an alarmingly bad design? A Bed-Stuy church conversion sees the historic structure all boxed up. [Brownstoner]
- Is the city’s booming real estate market a reflection of the city’s strong economy or a bubble driven by speculative investment? Greg David investigates. [Crain’s]
- A new hotel designed by Peter Poon will replace a demolished parking structure on 37th Street. Poon already has a hotel in the works directly across the street. [Curbed]
- Financial bigwig David Ganek is asking $44M for Jackie O’s one time pad in 740 Park Avenue. [Curbed]
- German fashion brand Hugo Boss is in talks to grab 70,000 square feet of office space in the Financial District. [Crain’s]
Plans for the Bed-Stuy church (left); 432 Park Avenue residential building (right)