740 Park Avenue
740 Park Avenue, New York, NY 10021
BBL 1013860033 · BIN 1041363
- Year built
- 1929
- Type
- Cooperative
- Units
- 31
- Floors
- 17
- Pets
- Limited; confirm specifics with management
- Financing
- Restrictive — confirm specifics with managing agent (the building has historically prohibited mortgage financing on most transactions; current policy may vary by apartment configuration)
- Landmark status
- Not an individual landmark; in the Upper East Side Historic District
- NYC Landmarks Preservation Commission records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Flip tax
- 3% of the purchase price, paid by the buyer
- Doorman
- Full-time doorman
Every recorded sale at this building, 2004–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 4BR+ median, 2023–2025
- $17M
- 3 qualifying sales
- Recent range
- $15M – $45M
- Listing discount
- 12.5%
- Recorded transfers
- 29
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 740 Park Avenue would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
740 Park Avenue is the cooperative apartment building most consistently identified, by both real estate professionals and the broader cultural register, as the single most consequential luxury residential address in the United States. Completed in 1929–1930 at the southwest corner of East 71st Street and Park Avenue, the 17-story limestone-and-brick cooperative was designed by Rosario Candela — then in the peak years of his prewar Manhattan luxury practice — in association with Arthur Loomis Harmon, a partner in the firm (Shreve, Lamb & Harmon) that two years later would design the Empire State Building. The building's combination of architectural pedigree, the specific quality of its floor plates and unit configurations, the institutional character of its cooperative board, and the depth and continuity of its resident roster across nearly a century has made 740 Park the structural reference point for the upper limits of the Manhattan cooperative tradition.
Development history. 740 Park was developed by real-estate operator James T. Lee — the same developer behind 998 Fifth Avenue (1912) — who persuaded the existing mansion owners on the site to give up their houses for apartments. Ground broken March 1929, completed October 1930. The New York Times described 740 Park at completion as "literally twelve mansions built one on top of another." The building was the subject of Michael Gross's 2005 book 740 Park: The Story of the World's Richest Apartment Building, which traced the apartment-by-apartment ownership history of the building from its 1930 opening through the early twenty-first century.
Resident history. The building's resident history across nearly a century has included representation from each generation of the American institutional finance, industrial, philanthropic, and political leadership class. John D. Rockefeller Jr. and Abby Greene Aldrich moved into the building soon after its 1930 completion, occupying the 35-room triplex on the 14th–16th floors and rooftop that remains the building's largest apartment. Original founding-era residents also included George Stephenson Brewster, James Watson Webb, Langdon K. Thorne, and Janet and John Vernou Bouvier III — the parents of Jacqueline Lee Bouvier (later Kennedy Onassis) — who occupied an apartment in the building during Jacqueline's childhood. The Rockefeller triplex was sold by the Rockefeller family in 1948; its subsequent ownership history has included John W. Galbreath and, since 2000, Stephen A. Schwarzman (Blackstone), whose purchase was widely covered at the time.
The building's twenty-first-century roster has been substantially documented in public records and the real estate press. David H. Koch (Koch Industries) occupied an apartment in the building until his death in 2019. Henry R. Kravis (KKR), Steven Mnuchin (whose initial application was famously rejected before a subsequent application was approved), John A. Thain (formerly of Merrill Lynch and CIT), and Christopher Forbes (Forbes Media) have all been resident at the building. The roster's coherence — institutional finance, industrial, and philanthropic principals across multiple generations — is the structural feature that distinguishes 740 Park from any other Manhattan cooperative.
Board review at 740 Park is widely reported as rigorous. Confirm the building's current financing, liquidity, ownership and occupancy requirements from its governing documents and application instructions.
Architecture and unit composition
The Candela-and-Harmon design produced one of the most architecturally significant residential buildings of the late-1920s Manhattan luxury cycle. The 17-story limestone-and-brick exterior — with its restrained classicizing detailing, deeply set windows, terracing setbacks at the upper floors, and the substantial corner massing that anchors the building's presence at 71st and Park — exemplifies the prewar Manhattan luxury idiom at architectural maturity.
The interior architectural program is calibrated to Candela's signature prewar floor-plate vocabulary. The building was constructed with 31 cooperative apartments — extraordinarily large for a Manhattan apartment building of any era — distributed across the 17 floors in configurations ranging from full-floor apartments to multi-level duplexes and triplexes. The original ceiling heights, room scale, library-and-dining-room separation, primary bedroom suite configurations, and architectural circulation patterns are recognizable across the inventory and have been substantially preserved through nearly a century of renovation and combination.
Apartments at 740 Park are large by any measure — most are full-floor or multi-floor configurations exceeding 4,000 square feet, with several substantial duplexes and triplexes. Some apartments span 8,000+ square feet. Pre-war Candela signatures throughout: 12–14 foot ceilings in primary rooms, formal entry galleries with grand proportions, library-living combinations, primary suites with substantial walk-in closets and dressing areas, kitchens originally configured for staffed service. Many original elements (mantelpieces, hardware, wood paneling) have been retained in apartments that have undergone careful renovation.
Across the 31 apartments, unit configurations are heterogeneous — Candela's original floor plans have been modified through combinations and renovations over the decades — and pricing on the individual apartment line requires substantive apartment-specific analysis. The corridor's general logic (high-floor southerly and easterly exposures over the Park Avenue median commanding the highest premiums) applies to 740 Park as it does to the rest of the corridor.
Building operations
740 Park Avenue operates as a full-service cooperative with the institutional amenity package consistent with its architectural and cooperative tier — 24-hour doorman, concierge, full-time superintendent, white-glove service profile, full operational support for the resident population. Property management is handled by Residential Management.
The building's cooperative board is reported to be highly selective. Confirm the current financing, liquidity, ownership and occupancy requirements from the governing documents and application instructions. Reports of rejected applications — including the widely reported initial rejection of Steven Mnuchin's purchase prior to his eventual approval — do not establish an approval rate or a comparative ranking of board selectivity.
Building policies on financing percentages, subletting, pied-à-terre use, alteration agreements, and pet permissions are calibrated to the cooperative's institutional culture and should be confirmed directly with the managing agent during due diligence. The building's financial profile — the underlying mortgage structure, the reserve position, recent assessment history, and the building's Local Law 97 planning — should be examined at the application stage; the building's financial statements are made available to prospective applicants through standard cooperative practice.
The current condition of the mechanical systems needs confirming from recent engineering reports and board materials. Review the current budget, audited statements, underlying mortgage, reserves and any assessments.
Application and transaction fees
Fees below are from building management's published schedule, as of September 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
- Terms
- Equal to 3% of purchase price
- Rate
- 3% of the purchase price
- Paid by
- Buyer
Source: building management's published schedule, as of September 2026
Purchase
5 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Messenger Fees | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
| Managing Agent's Fee | Paid by Shareholder | When At closing | Amount $900 (Shareholder is an Individual) or $1000 (Shareholder is an Estate) | Refundable Non-refundable |
| New York State Stamp TaxPer share | Paid by Shareholder | When At closing | Amount $0.05 per share | Refundable Non-refundable |
| Fidelifacts Credit ReportConditional · Per applicant | Paid by Buyer | When With the application | Amount $871.00 per Applicant/Occupant, $1,633.13 if there are two (2) Applicants/Occupants | Refundable Non-refundable |
Ownership transfer
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Background Check FeePer applicant | Paid by Buyer | When With the application | Amount $100 per applicant/occupant | Refundable Non-refundable |
| Credit Report FeePer applicantRequired | Paid by Buyer | When With the application | Amount $75 per applicant/occupant | Refundable Non-refundable |
| Messenger Fee | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditionsRestrictedSource: The Roebling Team's building profile
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $1,640 per room a monthMedian of 4 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $21,066/yr
- 2030–2034 annual penalty
- $291,077/yr
- Per unit / month range
- $53 – $735
- Modeled exposure split equally across 33 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. A filed Safe grade is not a guarantee of current condition: owners still maintain the facade and, where required, observe parapets each year. Future inspection timing (Local Law 49 of 2025 changed the cycle framework from October 1, 2026), repair and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City data last refreshed September 2026.
Management & transfer contacts
- Flip tax
- 3% of purchase price (Buyer, at closing)
- Policies and fees
- Managing Agent's Fee $900 (individual)/$1,000 (estate); NY State Stamp Tax $0.05/share; Application Processing Fee $450; financing not permitted
- A per-share “stamp” charge is usually the New York stock transfer tax, which can be rebated in full on a claim filed with the New York State Tax Department (Tax Law §280-a). Ask the managing agent whether the line is the tax or an administrative charge, and how any rebate is handled.
Recent sales
Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jul 17, 2025 | 6 | 5 BR · 7 BA | $14,990,000 | +0.0% | |
| Feb 7, 2025 | 4 | 5 BR · 7 BA | $45,000,000 | -6.3% | |
| Dec 18, 2023 | PH17 | 3 BR · 3.5 BA | $28,000,000 | -18.8% | |
| Oct 12, 2023 | 10 | 4 BR · 6 BA | $17,000,000 | -34.6% | |
| Oct 21, 2022 | 2 | 5 BR · 6.5 BA · 5,590 sf | $12,500,000 | $2,236/sf | -35.9% |
| Jul 22, 2021 | 8 | 5 BR · 6.5 BA | $22,500,000 | -12.6% | |
| Mar 5, 2019 | 4 | 5 BR | $20,500,000 | -8.9% | |
| May 4, 2018 | 1A | 2,330 sf | $3,950,000 | $1,695/sf | -16.8% |
Market read. $/sf is measured on the latest sales with reliable square footage (2022): a median $2,236/sf (recorded) across 1 sale. The building has traded as recently as 2026. Median listing discount 14.4% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
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 1-01386-0033). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. 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 would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at 740 Park Avenue and nearby.
Buying here? Co-op closing costs typically run 2 to 3% of the price. See NYC co-op and condo closing costs, line by line.
Keep up with 740 Park Avenue and its market
The Roebling Report, monthly: Manhattan sales data and analysis, including buildings like 740 Park Avenue. Unsubscribe anytime.
We’ll use your email for The Roebling Report and note your interest in this building. See our privacy policy.
What to know if you’re buying
The architectural and cultural pedigree is the structural feature. The Candela-and-Harmon design, the resident-roster continuity, the corridor's most-recognized cooperative address, and the institutional character of the building together constitute the building's structural premium over the rest of the corridor.
Expect a substantive board review. Buyers should expect a comprehensive financial package; confirm the building's current financing, liquidity, debt-to-income and occupancy requirements from its proprietary lease and application instructions. Application preparation is a substantive project; the Roebling Team approach is to calibrate the package and the application strategy to the building's specific requirements before submission.
The board approval process is central. Purchases require board approval after a package and interview, and approval is not guaranteed. Confirm the building's current financing, liquidity, ownership and occupancy requirements from its proprietary lease and application instructions, and prepare references and the interview with care.
The apartment inventory is heterogeneous. Combinations and renovations have produced significant unit-to-unit variation; pricing requires apartment-specific comparable analysis. Floor, exposure, view (particularly southerly and easterly views over the Park Avenue median), apartment configuration, and condition all materially affect pricing.
Financing rules are restrictive. The building's permitted financing percentage is on the restrictive end of the Manhattan cooperative range; historically the building has prohibited mortgage financing on most transactions, requiring all-cash purchases. Buyers should confirm the specific current policy with the managing agent before structuring the offer.
Subletting and pied-à-terre policies are restrictive. The building operates as a community of resident shareholders; buyers whose use case is not aligned with primary-residence intent should consider alternative buildings.
Confirm documentation requirements early. Purchasers with assets or income outside the U.S. should confirm the building's current financing, liquidity and documentation requirements from its proprietary lease and application instructions.
Renovation is constrained by historic district status and by the building's alteration process. Substantial renovation is feasible but requires careful architectural work that respects the building's character. Buyers planning renovation should review the alteration agreement and confirm the board's current standards before committing to a design.
Confirm specifics directly with management. Pet policy, alteration-agreement scope, working-capital contribution, flip-tax structure, and recent capital-assessment history should all be confirmed against the offering plan and current board policies during due diligence.
What to know if you’re selling
Marketing is private. Most 740 Park transactions occur with limited or no public marketing. Sellers typically work through private broker networks, with apartments shown only to vetted prospective buyers. Public listing via REBNY syndication or Compass typically signals either a longer hold or a particular seller circumstance.
Marketing should emphasize the architectural and resident-history pedigree. Candela-and-Harmon 1929–1930, the corridor's most-recognized address, the institutional cooperative tradition, and the building's documented residential continuity. Apartment-specific marketing should foreground the floor, exposure, view, configuration, and condition that distinguish the unit within the building's inventory.
Confirm purchase requirements and market the apartment clearly. Use the current application criteria and the specific residence's features to plan outreach; public anecdotes do not establish the number or occupations of eligible buyers.
Pricing requires apartment-level comparable analysis. The unit-to-unit variation is substantial; recent comparables on the specific apartment line, exposure, and configuration should anchor the marketing approach. Press coverage of recent transactions provides public anchoring; ACRIS records provide the documentary basis. The building's small unit count means historical sales data is relatively sparse, and broker familiarity with the building, the buyer pool, and the off-market activity that does not appear in public records is consequential.
Board approvability is the second pricing dimension. A buyer at price A who will not clear the board is, from the seller's economic perspective, a buyer at price zero. Marketing should calibrate the buyer evaluation in tandem with the price discussion to avoid extended marketing time on offers that cannot close.
Closing timelines are cooperative-standard but the package is heavier. Plan for 6–10 weeks from contract signing to closing, with substantial board package preparation and a board interview that is unusually consequential. The substantive board review at this building potentially extends the upper end of the typical timeline.
Comparable buildings
If you're considering 740 Park Avenue, also evaluate:
- 998 Fifth Avenue — pre-war landmark on Fifth, McKim Mead & White, similar tier (and the earlier James T. Lee development that established the Fifth-vs-Park luxury-apartment template)
- 1040 Fifth Avenue — Candela design on Fifth, comparable prestige
- 820 Fifth Avenue — pre-war landmark, smaller and very selective
- 834 Fifth Avenue — Candela, tier-one Gold Coast
- 1107 Fifth Avenue — historic Marjorie Merriweather Post triplex anchor
- 1185 Park Avenue — full-block Park Avenue building, comparable scale and Park Avenue prestige
- The Beresford (211 CPW) — west-side equivalent in prestige; very different cultural register
- The Dakota (1 W 72nd) — west-side equivalent in cultural significance; also very different register
More Park Avenue buildings
- 720 Park Avenue — 1929 co-op by Rosario Candela
- 730 Park Avenue — 1929 co-op by Lafayette A. Goldstone
- 733 Park Avenue — 1971 co-op
- 750 Park Avenue — 1951 co-op by Horace Ginsbern & Associates
- 755 Park Avenue — 1914 co-op by Lafayette A. Goldstone
- 760 Park Avenue — 1924 co-op by Rouse & Goldstone
The neighborhood
For the full corridor — architecture, transit, and pricing across Park Avenue — read The Roebling Team Guide to Park Avenue.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at 740 Park Avenue?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com