Grand slice of the Big Apple, yours for just $157m
The sprawling New York co-op that for decades was home to former Salomon Brothers chief John Gutfreund is on the market for $US120 million ($157m).
A 38-year veteran at Salomon, Gutfreund was chief executive of the firm during the 1991 Treasury note auction scandal and was pressured to resign. He died in March at age 86.
Measuring about 1115sq m, the 20-room duplex is one of the largest apartments on Fifth Avenue, according to John Burger of Brown Harris Stevens, one of the listing agents.
The apartment has been owned since the 1980s by Gutfreund and his wife Susan, Burger says.
Located on the seventh and eighth floors of the co-op on 834 Fifth Avenue, the apartment has three bedrooms in addition to a roughly 150sq m master suite with a dressing-room and sitting room, Burger says.
An entrance gallery has ceilings about 7.3m high and a grand marble staircase. The gallery opens into a roughly 15m long living room with two fireplaces and numerous windows overlooking Central Park.
Off the dining room, which also has park views, there is a large butler’s pantry with a felt-lined, walk-in steel safe for storing silver, Burger says.
The lower level of the apartment has three staff-
rooms and a servants’ hall, but the asking price also includes another staffroom — originally for the chauffeur — on the second floor, Burger says.
The apartment also comes with a wine cellar and storage space in the basement. A buyer would most likely update the apartment, Burger says, but “many people will appreciate and want to preserve the grandeur of what is there”.
Designed by Rosario Candela in the early 30s, 834 Fifth Avenue is one of the most desirable buildings in Manhattan, Burger says. Its board doesn’t allow financing and “likes to see very strong financial credentials for any future shareholder”, he says.
Susan Gutfreund couldn’t be reached for comment. Burger says she is selling because the apartment is too large for one person. He is listing the apartment with colleague Richard Ziegelasch as well as A. Laurance Kaiser IV and Craig Dix, both of Key-Ventures.
Financier John Gutfreund’s sprawling Fifth Avenue, New York, apartment overlooking Central Park is on the market for $157 million