Manhattan's famed 740 Park Ave. saw another prominent real estate sale once again.
Julia Koch, one of the world's wealthiest women with an estimated net worth of $74.2 billion, has just sold the co-op at the exclusive Park Avenue Palace for $45 million, according to Forbes .
Real deal First reported sales.
According to Gimme Shelter, the source said the buyer is a New Yorker.
The spectacular 18-room double is a generous 8,500 square feet. It first appeared on the market in 2022 for $48 million.
The 4th and 5th floor residences come with five bedrooms, six baths and two powder rooms. It opens with a private elevator landing into the marble entrance foyer. Design details include curved staircases in the statement, multiple marble fireplaces and large spaces for entertainment.
The living room features wide oak floors, window walls and a unique marble fireplace. There is also an eat-in chef's kitchen, a formal dining room with original details, and a library of wood panelled with built-in bars.
Last year, John Thane, former CEO of Merrill Lynch and president of Goldman Sachs, sold the Penthouse Duplex for $28 million at 740 Park. Reports say it's six years after he first listed it in 2018 at $39.5 million.
Koch is the widow of David Koch, an ultra-conservative billionaire who passed away in 2019 at the age of 79 and co-owner of Koch Industries. He purchased the cooperative from the Japanese government in 2004 for about $18 million.
Additionally, John D. Rockefeller, investor Saul Steinberg, and Blackstone's Stephen Schwartzman all called out the same units in the building's home.
Julia Koch also said that she Buy from real estate Microsoft co-founder Paul Allen $101 million in 2022. The following year, she sold the $41 million Upper East Side Townhouse on another out-of-market contract.
She also owns the $70 million Southampton Estate and Palm Beach Estate, which she purchased in 2021. Additionally, Julia and her children purchased a 15% stake in BSE Global, the parent company of the Brooklyn Nets, last June. The deal valued BSE Global at $6 billion.
Built in 1929, the 19-storey Art Deco Building was designed by Rosario Candela and Arthur Loomis Harmon. It was developed by James T. Lee, the grandfather of former former woman Jackie Kennedy Onassis, who once lived in the building as a child. The building was even the subject of the book: “740 Parks: The Story of the World's Richest Apartments”, Michael Gross.
The building has 31 units, including duplexes and triplexes. Past and present residents include Rockefeller and Vanderbilt's family, Bella Wang and former Treasury Secretary Stephen Mnuchin.
The listing brokers were Leighton Candler, Bradley Comisar and Jennifer Reardon from Corcoran.
