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Considered by many to be among the finest examples of pre-war apartment house architecture, 740 Park Avenue is defined by stately proportions and unsurpassed elegance. Drawn by Rosario Candela and Arthur Loomis Harmon in 1929, the plans for this coveted address remain a standard for gracefully functional design and serve still as inspiration for today’s most sought-after buildings. Ideally located on East 71st Street and spanning over 7, 000 square feet, this mansion-like residence is distinguished by its impressive scale, enduring elegance, sunlit interiors, and attractively open views. Regally proportioned throughout, this duplex features a tour-de-force of remarkable entertainment rooms, five bedrooms, five bathrooms, and two powder rooms, as well as an extremely ample back-of-house. Refined and sophisticated and with ceilings stretching to nearly 11 feet on the lower floor, this extraordinary residence impresses at every turn. Accessed by a private elevator landing, the large rectangular Gallery opens to the three grand entertainment rooms and features an elegantly-curved staircase to the upper floor. The substantial corner Living Room and the handsomely paneled Library both boast wood burning fireplaces. Both south-facing, they are drenched in sunlight throughout the day and enjoy wonderfully open city views. In addition, the Living Room has western outlooks over St. James’ Church towards Central Park. Equally impressive is the very large formal Dining Room with its adjacent Conservatory, also open to the Living Room. A Powder Room and coat closet are conveniently accessible. Nearby, a spacious and well-appointed chef’s Kitchen has ample space for a large dining area and is supported by a well-appointed Service Pantry, a Staff Bedroom and bathroom, a Laundry Room, and a Powder Room. There is a also a back staircase to the upper level as well as a Service Hall that leads back to the Gallery, bypassing the Dining Room. Above, tranquil private quarters feature an extensive Primary Suite that includes a divine corner Primary Bedroom with a wood burning fireplace and gorgeously open southern and western views, ensuring copious sunlight, a vast Dressing Room and ensuite Bath, as well as a nearby Sitting Room/Bedroom with its own ensuite Bath and Wet Bar. There are three additional generously-proportioned Bedrooms, all of which have capacious closets, and two additional Baths. 740 Park Avenue is renowned for its expert and attentive staffing, which includes full-time doormen and porters, as well as a resident manager. Its gorgeous limestone façade is complemented by a sublimely elegant lobby. Residents also benefit from a state-of-the-art private fitness center and dedicated storage units. Pets are welcome.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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Loan Amount | $22,400,000 | $22,400,000 | $22,400,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.309% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $127,185 | $143,430 | $190,540 |
Total Monthly Payment | $127,310 | $143,555 | $190,665 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.