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740 Park

The Story of the World’s Richest Apartment Building

"Compulsively readable."Liesl Schillinger, The New York Times

"Jaw-dropping apartment porn."Fortune

"[A] great read... gossipy... revealing."People

"As rich as his subjects."Forbes FYI

"The Lolita of shelter porn."New York Observer

"Life after folly-filled life flashes forward like Park Avenue canopies viewed from a speeding town car."New York Times

"The is social history at its finest."Dominick Dunne

"Finally! A look inside the golden tabernacle of high society."Kitty Kelley

Photo of 740 ParkFor 75 years, it’s been one of the most lusted-after addresses in the world. Even today, it is steeped in money, the kind most of us can only imagine. Until now. The story of 740 Park Avenue sweeps across the twentieth century to today, and Michael Gross tells it in glorious, intimate and unprecedented detail. From the financial shenanigans that preceded the laying of the cornerstone, to the dazzlingly and sometimes decadently rich people who hid and hide behind its walls, this is a sweeping social and economic epic, starring our wealthiest and most powerful old-money families — Vanderbilt, Rockefeller, Bouvier, Chrysler, and Houghton — Greed Decade symbols Ronald Perelman, Henry Kravis, and Saul Steinberg, and the names in today’s scary financial headlines: David Koch, John Thain, Ezra Merkin and Steve Schwarzman.

April 19th, 2016

David Koch joins the homeless

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What do you do when your upstairs neighbor drives you from your home? David Koch, the wealthiest resident of 740 Park Avenue, forced out of the building by water damage following a fire in the apartment above his, belonging to J. Ezra Merkin of Bernie Madoff fame, has checked into a hotel and is checking out new cribs in his costly ‘hood, according to Richard Johnson of the New York Post and PageSix.com. Johnson adds delectable new tid-bits to the story that’s been playing out here on Gripepad over the last few weeks.

April 12th, 2016

740 Park Rumor Mill Update

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The latest rumor out of 740 in the wake of the devastating fire there last week has it that Bernie-Madoff-feeder Ezra Merkin‘s duplex apartment, where the blaze began in a sauna, was thoroughly destroyed and that controversial conservative billionaire David Koch might buy the charred shell and add it to his own apartment just below, creating a quadriplex that will rival the best and biggest residence in the building, private equity kingpin Steve Schwarzman‘s duplex-plus-servant’s-mezzanine, once the home of John D. Rockefeller Jr. Does this qualify as #richpeopleproblems?

April 10th, 2016

Temperatures rising over 740 Park fire

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A source reveals that the source of the fire that raged at 740 Park Avenue last week was a sauna in the apartment of Bernie-Madoff-feeder fat cat Ezra Merkin. And that’s caused fresh worries for two more of his neighbors. Recent purchaser Howard Marks has installed a sauna in his ongoing renovation. And long-time resident Israel “Izzy” Englander is currently combining two apartments and planning to install his own personal hot box. “The concern is that the board will make Marks remove [his] and stop Englander,” says the insider. This comes atop the water and smoke damage done to Merkin’s neighbors David and Julia Koch, Andrew and Dana Stone, Vera Wang and Thomas Tisch and his wife, the former board president Alice Tisch.

April 7th, 2016

JUST IN: Who got Merkined at 740 Park

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No word yet on how yesterday’s bonfire of 740 Park’s vanities started in Ezra Merkin‘s laundry room, but an inside source offers this who-else-got-hit report: Severe damage was suffered by Julia and David Koch, beneath Merkin, and Dana and Andrew Stone beneath the Kochs, “due to fire ‘n’ flooding. Heavy smoke inundated the homes of former 740 co-op board president Alice Tisch, above Merkin, and fashion’s Vera Wang, above Tisch and her husband. At least one of the victims is blaming building management and the super, and demanding a change. Meantime, security guards have been posted at all entrances and staircases, understandable considering 740′s recent history of what were reportedly “inside job” robberies. Is the so-called tower of power becoming the tower of woe?

April 7th, 2016

When neighbors attack

740-jacket-mediumUnmentioned in all the coverage of the fire yesterday in the apartment of Bernie Madoff associate Ezra Merkin at fabled 740 Park Avenue is the likelihood that he has two very angry and water-damaged downstairs neighbors.  But who are the folks who will be calling their lawyers, insurance agents, decorators and architects today?  Directly beneath Merkin is none other than financier David Koch, perhaps the building’s most controversial resident, along with wife Julia.  And beneath the Kochs reside Dana and Andrew Stone, the latter a banker with a fierce reputation.  Tops dogs in monied circles, they unfortunately both sleep in 740′s version of the bottom bunk–and we all know what flows downhill. (Water, silly.) At least they can afford repairs, but still:  My sympathies.  

April 6th, 2016

740 Park Board President at Scene of Fire

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George David, owner of a penthouse and president of the board of the 740 Corporation is shown here on the scene of the fire in Bernie Madoff-feeder Ezra Merkin‘s apartment at 740 Park Avenue. Check back for updates. UPDATE: Patch reports that two firefighters were injured on the scene.

April 6th, 2016

Breaking: Fire at 740 Park in home of Madoff-associate Ezra Merkin’s apartment

740As many as two dozen fire vehicles are outside 740 Park and a source inside the building says there is a fire in the sixth and seventh floor duplex apartment of embattled financier Ezra Merkin.

November 26th, 2015

Turkey? Or just a failed flip?

Reports surfaced yesterday of an epic flip fail at 15 Central Park West after the LLC that bought it last year sold for a small loss.  Sigh.  The original purchaser, pharmaceutical exec Richard Ullman, doubled his $24 million investment in the almost decade old tower.  But he actually lived there until his death.  The flipper, now out, should have known, you can’t  win ‘em all. Balloons will fly beneath its windows today.  Let’s hope they don’t deflate, too.  

October 20th, 2015

Another one bites the dust: RIP Bookhampton

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Truly sad news in the inbox last night: Bookhampton, the multi-door east end independent bookseller, will close shop after this holiday season–unless a white knight comes along to save it. There are no words. And after December, there will literally be none left out there. Anyone want to step up and save the day?

March 27th, 2015

740 Park loses record, gains footnote

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Curbed reports that Len Blavatnik, who left the Soviet Union in 1978 but still profited from its collapse via a partnership with Russian oligarch Vikor Vekselberg, has set a new New York co-op sales record with his $77.5 million purchase of New York Jets Woody Johnson‘s 14 room duplex at 834 Fifth Avenue. The previous record holder was 740 Park, where hedgie Israel “Izzy” Englander bought a second apartment in September for $71.3 million. 740, of course, had held that record previously, thanks to private equity poobah Steve Schwarzman‘s 1999 $29.9 million purchase of what had been Saul Steinberg’s duplex there. Indeed, Schwarzman held that record when Blavatnick tried to buy an apartment at 740, and its board recruited oilman and right wing financier David Koch to snatch it away (“I took it out from under his nose,” Koch boasted in an interview for my book 740 Park). Last laugh: Blavatnik. At least until Schwarzman decides to sell.