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A duplex apartment at one of the Upper East Side’s most storied co-op buildings has traded hands in an off-market deal — nearly doubling in value in under seven years.
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The unit at 740 Park Avenue, at the corner of East 71st Street, sold for $38 million, according to public records first reviewed by The Real Deal. The seller, an entity known as the E71 Trust, had purchased the apartment in 2019 for $20.5 million. The identities of both the buyer and seller are shielded by shell companies.According to Streeteasy, the roughly 7,500-square-foot apartment, Unit 4/5D, spans two floors and comes with five bedrooms, five bathrooms, three wood-burning fireplaces, a dining room, a chef’s kitchen, and a private elevator landing.
The steep price jump is likely attributable to a significant renovation. A 2019 lawsuit over an alleged construction-related injury in the unit referenced proposed work estimated at between $6 million and $6.5 million.
The previous owner, investor Peter Huang, had bought the apartment in the 1970s and first tried to sell it in 2013 for just under $30 million. It took six years and multiple price cuts before the E71 Trust closed on the deal.
740 Park Avenue, designed by the acclaimed architect Rosario Candela and completed in 1930, has long been regarded as one of the most exclusive residential addresses in the country. The limestone-clad, 19-story building has housed some of America’s wealthiest and most prominent families over the decades, including John D. Rockefeller Jr. and Jacqueline Kennedy Onassis, who spent part of her childhood there.
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The building was the subject of Michael Gross’s 2005 book 740 Park: The Story of the World’s Richest Apartment Building, which chronicled its history as a stronghold of old money and industrial wealth.The latest sale follows other recent high-profile transactions in the building. In early 2025, socialite and billionaire Julia Koch sold her 18-room apartment to hedge fund billionaire Ken Griffin for $45 million. Months later, developer Thomas Brodsky of the Brodsky Organization purchased a five-bedroom unit there for $15 million.
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