Cooperative · 1908
The Verona
721 Madison Avenue, New York, NY 10065
Buildings·Cooperative

721 Madison Avenue

721 Madison Avenue, New York, NY 10065

At a glance
Year built
1908
Type
Cooperative
Landmark
Designated
The Data Room

Every recorded sale at this building, 2005–2025

Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.

Recent range
$1.9M – $1.9M
Listing discount
11.4%
Recorded transfers
16

The Verona is one of the most distinguished apartment houses on Madison Avenue — a 1908 palazzo at the corner of East 64th Street, designed by William E. Mowbray and modeled directly on the Palazzo Strozzi, the great Renaissance fortress-house of Florence. At a moment when the luxury apartment building was still a new idea in New York, Mowbray gave Madison Avenue a building of genuine architectural ambition: a rusticated limestone base, detailed Roman-brick upper floors, arched windows and entrance flanked by bronze lamp posts, and an oversized, deeply modeled sheet-metal cornice along the roofline. It remains a landmark of the corridor, and it carries the residential address 32 East 64th Street.

The Verona is a small, white-glove cooperative of large-format apartments — the kind of pre-war scale and craft that buyers seek out and that new construction cannot reproduce. Its location is among the best in Lenox Hill: the Madison Avenue gallery-and-boutique corridor at the door, Central Park three blocks west, and the Upper East Side's cultural and retail spine all within a short walk. Over the years the building has drawn a notably accomplished roster of residents, a reflection of its standing as one of Madison's storied addresses.

Architecture and unit composition

The Verona is the rare New York apartment building conceived as a literal homage to a Renaissance palazzo. Mowbray modeled it on the Strozzi Palace, and the influence is legible at street level: the first floor is constructed of rusticated limestone, the upper floors of detailed Roman brick, and the composition is unified by arched windows and a grand arched entrance. The crowning feature is the oversized sheet-metal cornice along the roofline — a tour-de-force of period metalwork, restored in the 1980s to its original profile. The lobby continues the theme with an elegant staircase and the limestone detailing that mark the building's craft.

Inside, the building was built for space. Its apartments are large-format pre-war homes — generous principal rooms, real foyers, and the proportions that define the early luxury cooperative — and the low unit count keeps the building intimate and the per-floor density minimal. This is a building where a single apartment can occupy a substantial share of a floor, and where the scarcity of comparable large layouts underpins value.

Building operations

The Verona is run as a full-service, white-glove cooperative. Staffing includes a full-time doorman, elevator service with attendants, a resident manager, and porters; on-site amenities include a fitness room and storage. The building is pet-friendly, permitting both dogs and cats. On the financial side, the co-op is conservative in the manner of the corridor's top buildings: it permits financing up to 40% of the purchase price and charges a 2% flip tax paid by the buyer at closing. The low financing ceiling signals a board that expects substantial liquidity from purchasers — a standard feature of Madison Avenue's most established cooperatives, and one that buyers should plan for from the outset.

Local Law 97

Carbon-penalty exposure
🟡
Moderate — manageable today, 2030 cliff likely
2024–2029 annual penalty
$0 (under cap)
2030–2034 annual penalty
$59,858/yr
Per unit / month range
$0 – $185
See full Local Law 97 analysis — emissions history, scenarios, methodology →

Facade safety — Local Law 11

Local Law 11 / FISP · last inspection 2020–25
SWARMP
What this means for you

Safe to live in today — but the last inspection flagged repairs that are due on a deadline, so facade work and its cost are coming. Whether that’s a real concern depends on the scope, the timing, and how the building plans to pay for it — reserves or an assessment — which is exactly what we’d dig into for you.

Inspection history
2005–10
Safe
2010–15
SWARMP
2015–20
SWARMP
2020–25
SWARMP
2025–30
Due
Next report due
by Feb 2028
The three grades, in buyer terms
SafeGood for ~5 years — no facade assessment on the horizon.
SWARMPSafe now, repairs due on a deadline — budget for the work or a possible assessment.
UnsafeActive hazard: sidewalk shed and repairs now. Expect disruption and an assessment.

QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.

See the full facade history →

Recent sales

Recent transfers at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.

DateUnitApartmentPricePPSFvs. Ask
Jul 16, 20257NE
2 BR · 1.5 BA
$1,900,000-11.6%
Nov 22, 20225NE
1 BR · 1.5 BA
$2,650,000-5.4%
Dec 14, 20217NE
2 BR · 1.5 BA
$1,750,000-12.5%
Dec 2, 20219W
5 BR · 4 BA · 5,000 sf
$13,000,000$2,600/sf-3.7%
Aug 3, 20216NW
5 BR · 4.5 BA · 4,700 sf
$10,000,000$2,128/sfoff-mkt
Nov 5, 20203W
5 BR · 4.5 BA
$15,350,000-12.3%
Jun 11, 20199E
4 BR · 3.5 BA
$9,950,000-26.3%
Feb 2, 20108E
4 BR
$6,300,000-3.1%

Market read. Most recent trades (2021) cleared a median $2,600/sf across 2 sales. Median listing discount 10.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

The retrade record

Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.

5NE+42%
$1,865,000 2008$2,650,000 2022
3W+25%
$12,300,000 2007$15,350,000 2020
7NE+9%
$1,750,000 2021$1,900,000 2025

Other recent transfers

DateUnitPrice
Jan 13, 20254N$964,275
Dec 16, 20248NE$8,994,000
Aug 13, 201210W$21,000,000
View all 16 recorded transfers, sortable

Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01378-0048) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.

What to know if you’re buying

You are buying a landmark palazzo with large pre-war layouts. The Strozzi-inspired architecture, the craftsmanship, and the scale of the apartments are the product — scarce, intact, and impossible to replicate in new construction. Underwrite the building as a trophy Madison Avenue cooperative.

Plan for the financial profile. Financing is capped at 40% of the purchase price — purchasers should expect to bring substantial equity, as the board's posture is consistent with the corridor's most conservative buildings. Budget the 2% flip tax, which is paid by the buyer here.

The location is best-in-class. Madison Avenue retail at the door, Central Park three blocks west, and the full sweep of the Upper East Side's culture and shopping within a short walk — paired with full white-glove service and a fitness room on site.

What to know if you’re selling

Lead with the architecture and the landmark standing. A 1908 palazzo modeled on the Palazzo Strozzi, within the Upper East Side Historic District, is a story unto itself — position the building on its design pedigree and its place among Madison's storied addresses first.

Scarcity is the lever. With 27 large apartments and turnover measured in years, a well-prepared listing benefits from the building's thin supply and the impossibility of finding comparable large pre-war layouts elsewhere on the corridor.

Benchmark to Madison's landmark cooperatives. Comparable analysis belongs against the corridor's most distinguished pre-war co-ops and the broader Park-and-Fifth trophy tier, not against generic Lenox Hill inventory — the architecture, the scale, and the white-glove service set the building's class.

Comparable buildings

If you're considering The Verona, also evaluate these nearby Upper East Side cooperatives:

The Roebling Team at The Verona

The Roebling Team at Compass specializes in the Upper East Side, Madison and Park Avenues, and the corridor's landmark pre-war cooperatives. We publish this profile because buyers and sellers evaluating an architecturally distinguished, large-layout Madison Avenue co-op deserve building-specific intelligence — the architecture, the financial posture, the board rules, and where the pricing sits against the corridor's best.

If you're weighing a purchase or sale at The Verona, a 30-minute consultation is the right starting point.

Considering a move at The Verona?

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Current availability including off-market, the full comp set, and the board & financials read most listings don't show.

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Corey Cohen, Principal · The Roebling Team at Compass
646.939.7375 · c.cohen@compass.com