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 2nd, 2017

21st Century Rockefellers

02e-rockefellertreeThe Rockefeller family’s enduring legacy, the subject of a feature story by Michael Kaplan in today’s New York Post, is also a prominent theme in 740 Park and Rogues’ Gallery, two of my books. News-hooked on the recent death of David, the last surviving son of John D. Rockefeller, Jr., and the only one to live in 740 Park, the story addresses how great fortunes are dispersed and thus dissipated in large families, and asks if this wealthy family’s name still matters. I say it does, and others agree. In large part, that’s because, as Kaplan writes, “the family never flaunted its wealth.,” and “a chunk of it has gone to philanthropy,” including the Metropolitan Museum of Art, subject of the latter book. Rockefeller influence also lurks behind the April Philanthropy issue of AVENUE, out next week, which spotlights this century’s Rock-a-fellas.

February 12th, 2017

Secrets of the City, Revealed

default_lrg_516x311“One of our most provocative journalists, Michael Gross has cornered the market for insiders’ stories of the most bewitching and private worlds of the privileged, very rich, talented and beautiful,” says the 92nd Street Y, announcing my forthcoming appearance there on the night of June 12th, when I’ll engage in conversation with William D. Cohan, the former M&A investment banker for Lazard Frères and bestselling author of books about Wall Street. Speaking of insider stories, on Friday, Bloomberg “revealed” details of financier and Trump administration advisor Stephen Schwarzman‘s 70th birthday party in Palm Beach this weekend. But readers of AVENUE magazine, where I’m editor-in-chief, had that news first, more than three weeks ago. And here’s Cohan on Trump and Wall Street–a must read from today’s New York Times.

December 26th, 2016

Resolved to read Focus–Thanks Mitchell Kaplan!

Look above his right bicep!

December 16th, 2016

Focus for the holidays

Looking for a holiday present? Focus is “smart, well researched and written with an insider’s eye… engaging and on point….canny,” (Kim France, New York Times Book Review), “delicious, sweeping, thoughtful” (The Daily Beast), “thoroughly absorbing…enthralling and riveting,” (Tim Gunn), “amazing… big, intelligent, exhaustively researched, lovingly written,” (Liz Smith, Chicago Tribune), “deep-diving …groundbreaking,” (DuJour), “sizzling…relentless,” (Hamptons Magazine), “juicy. . . fascinating,” (Booklist), “often-shocking” (Daily News), “simply unrivaled…a sensation….” (craveonline), “astonishing and unprecedented,” (The Daily Mail), “exciting…a must,” (Musée), and “important,” (National Post). focus final jacket

December 1st, 2016

740 Park: The Comeback Begins

740After an annus horribilus full of troubles, is 740 Park, subject of my 2005 book, once again New York’s Tower of Power? Consider this: Though his primary residence is California, Secretary of the Treasure-designate Steven Mnuchin remains the owner of a duplex there. And ten floors above him in a triplex penthouse lives the cooperative’s president, George David, former chairman and CEO of defense contractor United Technologies, which owns Carrier, the air-conditioning giant that yesterday agreed to keep jobs in the United States. Might the neighbors have facilitated that deal in a little chat in the elevator or the basement gym?

June 19th, 2016

A leak out of Focus:  Dick Avedon’s double life

In his column today, Richard Johnson of the New York Post reports on the revelation in Focus that twice-married Richard Avedon, a major character in the book, was secretly bisexual. It’s but one of dozens of secrets spilled in the story of fashion photography’s glory years.  What’s next? Stay tuned for more…

June 5th, 2016

Are you down with RPP (Rich People’s Problems)?

I revisit 740 Park, the subject of my 2005 book, in “Fire, Floods, Theft: The Plagues of 740″, in today’s New York Post. All the story is missing is locusts. See if you can ID the frog in the lily pond. UPDATE: Mail Online picked up the story too.

May 25th, 2016

Plague Days at 740 Park

After a devastating fire a few weeks ago, the world’s richest apartment building, 740 Park, is now being cloaked in 184 linear feet of sidewalk shed. Why? A source with detailed knowledge of the 1929 building’s woes says that after chunks of limestone fell from its facade last July, causing the FDNY to rush there, it was determined that some of the metal brackets that hold the massive stone blocks in place “are rusting, and as it rusts, it swells and pops the limestone, causing pieces to fall.” The source adds, “They have to do probes on the limestone [and] might have to re-clad the building at a cost of $100 million.” That would likely trigger an assessment of about $3 million per apartment. Lucky thing the “poor” residents of 740 (many of whom, including David and Julia Koch, are currently said to be living at The Mark Hotel nearby while remediating fire damage) can afford it. Before the frogs and locusts arrive, cue the world’s smallest violins for a chorus of rich people’s problems.

May 13th, 2016

It isn’t only luxury condos crashing: Hedgies are dropping, too

Loeb Xmas001
Today’s New York Times highlights one reason why Manhattan’s high-end condo market is collapsing, as Extell founder Gary Barnett admitted yesterday. James B. Stewart writes that investments in hedge funds, the financial high fliers that funded much of the condo boom, are dropping as dramatically as construction cranes. Stewart quotes Daniel Loeb, founder of the Third Point hedge fund and owner of one of the largest penthouses at uber-condo Fifteen Central Park West (shown with his wife Margaret Munzer Loeb on the front of one of their elaborate Christmas cards): “There is no doubt that we are in the first innings of a washout in hedge funds.” Loeb’s funds finished in the red in 2015, according to Institutional Investor’s Alpha Magazine, which just published its annual list of top-performing hedgies. Among Gripepad’s favorites who made the list this year, 740 Park’s Israel “Izzy” Englander (who earned $1.15 billion) and Fifteen CPW’s Dan Och.

May 2nd, 2016

Horse manure spreads….

carriage-horseGripepad has refrained from schadenfreude in response to the legal clouds hanging over Bill DeBlasio and anti-carriage-horse group NYCLASS’ co-founder Steve Nislick, but today’s Daily Beast confirms and adds detail to a scoop first published here in 2009 in “It’s Parkingtown, Jake,” revealing that Nislick’s advocacy against the historic Central Park attractions is likely more about real estate than animal welfare. Gripepad first mentioned this brouhaha in 2008, and has followed it ever since. “Clap Your Hands Say Neigh” followed a New York Post scoop on a NYCLASS proposal to replace the horses with amusement park rides. Then, in “Let’s Talk Horse Sense,” a 2011 column in Crain’s New York, Gripepad revealed NYCLASS’ motivation. Nislick and his supporters immediately launched a vicious e-mail campaign against this reporter and his editors. Better that than a subpoena!