If you travel anywhere in the world and you mention that you live in a Park Avenue apartment people will automatically associate you with wealth and luxury. It makes sense. This famous boulevard has some of the world’s most expensive apartments that house the rich and famous.
In our search to find the top five most expensive buildings on Park we visited Street Easy and researched average price per foot that these apartments sold for. We quickly realized that most cooperatives, especially the pre-war type, will not list the square footage of the apartments. Instead we based our list on the average selling price of apartments within the building.
And the results are - drumroll please……….:
1. 740 Park Avenue
$25,064,000/average selling price
Yup, you guessed it. The famous 740 Park Ave has housed the who’s who of New York from first lady Jacqueline Kennedy, to fashion designer Vera Wang, to business mogul John D Rockefeller. The building was built in 1929 by the famous architect Rosario Candela and Arthur Loomis who constructed the building with highest ceilings and widest hallways on Park. In May of 2012 an apartment in this building sold for $54,000,000. At the time it was reported the most expensive sale in the city but that didn’t last long… A few months later an apartment at 15 Central Park West sold for $88 million making the sale at 740 Park look like a bargain.
2. 778 Park Avenue
$20,839,000/average selling price
If you are looking for a “cheaper” alternative from the number one spot you should stop by 778 Park Ave. Apartments in this Candela creation are a whopping 17% less than 740 Park. Residents of this building include Zygi Wilf, the principal owner of the Minnesota Vikings Football team. A five bedroom apartment sold in October of 2011 for $21,000,000.
3. 640 Park Avenue
$18,874,000/average selling price
Lets talk about space… This 13 story pre-war building has 14 supersized apartments. J. E. R Carpenter, another architect that built most of the luxury apartments found on Park Avenue, meticulously designed these units. Some apartments in this building have as many as 18 rooms. The priciest unit to sell in this coop was for $25,870,000 in 2009. That apartment was originally priced at $23,750,000 two years earlier.
4. 775 Park Avenue
$18,712,500/average selling price
This 13-story limestone and brick cooperative takes up an entire square block, has 47 apartments, separate Park Avenue entrances and is larger than the rest of the buildings listed here. However, the number of units has not brought down the average selling price of these Park Ave apartments. Rosario Candela designed this Italian Renaissance building to include 2-6 fireplaces per floor, 10 – 13 foot ceilings, and uniquely placed windows that pour sun into the apartments. The most expensive unit to sell in this building was a five bedroom five bathroom apartment in 2011 for $28,000,000.
5. 720 Park Avenue
$15,988,000/average selling price
Candela, Candela, Candela - 720 Park Avenue is another one of his famous creations. The building which rests on the corner of 71st and Park has one of the most unique facades on Park Avenue. The bottom of the building has a three story limestone base that compliments the redbrick and limestone cornices on each corner of the building. Above the buildings buttress, units include alcove rooms and large terraces with spectacular views. The most expensive apartment to sell in this building was a $21,500,000 5 bedroom in late 2007.
So now you have it. The five most expensive Park Ave apartment buildings based on average selling price. Which one would you prefer to live in?
This is a featured guest blog post written by Ariel Dagan, an Upper East Side apartment’s specialist working at Keller Williams NYC. Ariel has sold numerous high end luxury apartments throughout his career. While growing up on the Upper East Side he has come to appreciate and educate himself with Park Avenue apartments. Over the next year he will be writing about each one of them on his blog. Enter Ariel…