Jackie Kennedy Onassis’ extravagant childhood home at 740 Park Avenue, Manhattan’s most prestigious co-op building, recently sold for $25.25 million. After three years and multiple price cuts, the 4-bedroom co-op was finally sold to Jacob M. Safra of the billionaire Brazilian Safra banking family.
The duplex at unit 6/7A, which was originally developed by Jackie’s grandfather James T. Lee back in 1930, is in one of the most exquisite (and exclusive) buildings designed by world-famous architect Rosario Candela.
Hedge fund manager David Ganek has owned the apartment since 2005, when he purchased it for $19.1 million. While last week’s $25.5 million price tag may seem steep, the deal is actually a (relatively) good bargain. Back in 2014, Ganek originally listed the apartment for a whopping $44 million.
The Ganeks renovated the property while they lived there and populated it with art by Andy Warhol, John Baldessari, Richard Prince, Cindy Sherman, and Edward Ruscha, to name a few. On the first floor of the unit is a spacious living room facing Park Avenue, a library with the original wood paneling, and a formal dining room, all with their own fireplaces.
The kitchen is also on the first floor and has its own breakfast room and two staff quarters neighboring it.
The second floor features the master bedroom with two bathrooms, three more bedrooms with ensuite baths, a laundry room, and a media room.
As for the duplex’s buyer, the Safra family is no stranger to NYC real estate. The family already purchased the former Manhattan Country School headquarters for $20 million and a three-townhouse parcel asking $120 million, which was once the most expensive property for sale in NYC.