Howard Marks spends a lot of money at 740 Park Avenue (2023)

VERKOPER: Courtney Sale Ross
BUYER: Howard at Nancy Marks
LOCATION: New York City, NY
PRICE: DKK 52,500,000
SIZE: Huge with many bedrooms and bathrooms

NOTES FROM YOUR MOTHER: No babies, your eyes have not fooled your brain, and your mother's weary fingers have not misunderstood the purchase price.According toinreal estate gossipin New York City - and real estate data available atto callIn fact, Los Angeles-based Oaktree Capital king Howard Marks and his wife Nancy shelled out a staggering, record-breaking $52,500,000 for a legendary duplex in the ridiculously expensive building at 740 Park Avenue in New York City.

The two-story, two-unit combination, sold by Time Warner widow Courtney Sale Ross, who some time ago relocated her digs in the city to a much smaller but not exactly cheap downtown apartment, is said to have sold for several outside the city. market are available. years with asking prices as high as $75,000,000 and last winter the approximately 10,000 square foot duplex was finally released to the open market with a still burning price of $60,000,000. The two units were also offered for sale separately for 25 and 35 million cockles each.

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The easiest and best way to understand the size of Los Angeles-based Mister and Missus Marks' new Manhattan pied-a-terre is through numbers. Based on the information in the ad and his mother's count based on the floor plan included with the marketing materials, the colossal co-op includes 30 (give or take) rooms with more than two dozen closets and dressers, 6 master bedrooms, including a spacious master suite with private sitting room, 2-3 staff bedrooms, 9 full and 3 half baths, 6-7 wood stoves, 6 separate garden terraces (none particularly large), 2 entrance galleries large (each with rotating floating staircase), 2 living rooms (one of 10 meters long and almost 6 meters wide and supposedly furnished as a media room), formaljcasual dining rooms, 2 well-appointed chef's kitchens (connected by an almost hidden hallway), 2 libraries, 2 offices and a games room/gym.

Listing information as of late 2011 shows overheads and maintenance for the inflated duplex totaling $34,326 per unit. month, and the amount your mom's jeweled abacus estimates at $411,912 on blood thinners a year just to keep the doorman friendly as you walk through the building's lavish and quiet lobby.

Your mom mentioned Sale Ross and Mark's the end of last year, if any of you achieved a goal, what do we think of it.

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As epic as Mister and Missus Marks' new listing at 740 Park may be, it still dwarfs the building's even grander penthouse triplex, owned by Stephen Schwarzman of the Blackstone Group, which is reportedly worth $35. -Paid 40 million for the giant 34-room triplex in 2000 Look kids, there's always someone with more and more, even for free-spending billionaires.

Mr. and Mrs. Marks, as noted above, reside primarily in Los Angeles, CA, where property documents (and other online documentation) reveal that they are the real image of what their mother would call hard-core real estate players. They play, our unscientific and incomplete research shows, on the same battlefield in real estate that was recently (and so bitterly) divorced.Frank and Jamie McCourt balls.

Records show that as of July 1996, Mr. and Mrs. Marks paid commercial real estate magnate Robert Maguire III $7,963,570 for a 2-acre estate on one of the most desirable and expensive streets in all of Los Angeles. THE. The county tax collector and other online resources indicate that the multi-building property in Brentwood has a 8,617 square foot, multi-story, 6-bedroom, 8-bathroom quasi-colonial mansion surrounded by expansive lawns, labyrinthine gardens, a large circular highway parking lot, a swimming pool complex with a pool house and at least one other detached building with an unknown destination.

Property details are a bit tricky, but as far as we know, Mr. and Mrs. Marks purchased all three of their 10-acre beachfront properties in Malibu, CA in the early 2000s. Most of the property was previously owned by the casino's widow, Verna Harrah, who sold it for $27,000,000 in 1999 to Herbalife founder Mark Hughes, who was found dead.At homejust months after purchasing the extravagant cliffside estate. We have not yet published a purchase pricea section in itForbesfrom the time of purchaseindicates that the rumor on the real estate street at the time was that the big deal closed for about $31,000,000.

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Since then, Mr and Mrs Marks have rebuilt the mansion from the ground up, replacing every square inch of the fully landscaped property. Aerial photos show a multi-branch mansion that wraps around a few highways and several terraces leading to expansive gardens, a cliff-top swimming pool, and a tennis court complex with an observation pavilion. There are at least four other buildings that we suspect (but don't actually know) to be boarding houses and/or staff quarters. The Los Angeles County Tax Collector puts the existing main house at 19,340 square feet with 8 bedrooms and 13 hapless bummers.

The Marks' closest neighbors in Malibu include mustachioed actor Sam Elliot (On the air, Butch Cassidy and the Sundance Kid), hedge fund boss Jon Brooks and TV blockbuster Marcia Carsey (Cosby's show, Roseanne, 3rd Rock from the Sun, Los 70's show), all of whom live close enough that one of Mister and Missus' associates could easily drive a golf cart to borrow a cup of sugar or a bottle of Perrier Jouet.

In June 2010, First Lady Michelle Obama and the first (infamous) celebrity kidsI spent an afternoon at Mark's estate in Malibu., a seemingly innocuous seaside summer event that sparked much comment and controversy from people who thought it inappropriate for the First Lady and her children to take a lavish, carefree vacation while the US economy remained trapped in a huge pile of stinking shit

Anyway, politics, shmolotics...

According to online documents, in the early 1980s, Your Mama, Mister, and Missus Marks purchased a private 7.7-acre estate in the semi-rustic but very affluent enclave of Montecito, CA (above). Records show they paid just under $700,000 for the property, which, according to the Santa Barbara County tax collector, now includes an 8,306-square-foot mansion with additional outbuildings, including (but not limited to) a ranch, a swimming pool, a tennis pavilion and a separate guest house/staff quarters. In 2007, when they bought their Malibu property, they had their Montecito property on the market for $29,000,000. The property was eventually sold in August 2002 to, we were told by two separate sources, Mr. Marks' partner in the offering, Bruce Karsh, and his wife Martha.

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Mr. and Mrs. Marks too, someone who probably knows this sort of thing, have a residence in London, as well as a 4,639-square-foot condominium in New York City's Central Park South, which they show on the property records as having purchased in May 2007 for $18,875,000. Listing information from the time of purchase indicates that the entire floor area was completely unfinished, meaning unfinished, and packed into 29 windows with 10 facing Central Park. That means they probably spent several million more to build the room to their specifications. Marks' nest in Central Park South is right above the giant gaming mogul Steve Wynn duplex he just bought for $70,000,000.

Your mother needs a nerve pill just considering the financial resources required to pay for, staff and maintain two, several acres of low-maintenance Southern California property, a posh apartment in London, and a large sprawl in Manhattan. assume it will sell when it comes time to move to 740. Add to that the expense associated with owning Mr. and Mrs. Marks' new $52,500,000 real estate ball at 740 Park Avenue, and we're in awe. . If we were the gamblers, which we aren't, we'd bet our long-built vixens Linda and Beverly that it costs the Marks more each month to pay their various utility bills than most people make in an entire year.

Photo of park 740 (exterior):owned shark
740 park list images (inside):brown harris stevens
Luchtfoto's (Los Angeles at Montecito):Bing

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What is significant about 740 Park Avenue? ›

The childhood home of Jackie Kennedy Onassis (her grandfather built the place in 1929), 740 Park counted John D. Rockefeller Jr., a Chrysler heiress, and numerous financiers among its first residents.

How many billionaires live in 740 Park Avenue? ›

Notable Residents of 740 Park Ave

Interestingly, the building has the highest concentration of billionaires in the country and possibly worldwide. Back in 2004, it was reported that 6 out of the Forbes 25 richest New Yorkers – all billionaires – either currently live or had lived at 740 Park Ave.

How much is 740 Park Avenue worth? ›

An Upper East Side address that counts Rockefeller and Kennedy Onassis among the names of former residents might soon add Koch to the list. Julia Koch, widow of the late billionaire David Koch, is shopping the couple's apartment at 740 Park Avenue for approximately $60 million, the Wall Street Journal reported.

What is the richest avenue in New York City? ›

Fifth Avenue is not just one of New York's most famous luxury boutique destinations. It's also a major bus corridor, which is to say the whole avenue isn't just for tourists,” said Danny Pearlstein, policy and communications director for the Riders Alliance.

Where do the richest people in NY live? ›

Billionaires' Row is the name given to a group of ultra-luxury residential skyscrapers and the area surrounding them around the southern end of Central Park in Manhattan, New York City.

What is the most prestigious address in NYC? ›

740 Park Avenue - Wikipedia.

Who is the largest property owner in Manhattan? ›

Columbia University is the largest owner in New York City by the number of locations and manages over 5000 apartments across 150 residential buildings.

Which US city has the most billionaires? ›

New York City came out on top of the world's wealthiest cities list with 340,000 millionaires, ahead of Tokyo with 290,300, and San Francisco's Bay Area with 285,000. San Francisco had the most billionaires, with 63, compared with New York's 58.

Where is billionaires row in Los Angeles? ›

Trousdale, Beverly Hills, CA 90210.

Who are the current residents of 740 Park Avenue? ›

The “limestone fortress” was once home to John D. Rockefeller Jr. and a young Jacqueline Bouvier. Current residents include Ronald Lauder, the Blackstone Group's Stephen Schwartzman, Merrill Lynch CEO John Thain and hedge fund manager J.

What is the most expensive apartment on Park Avenue New York? ›

An apartment at 432 Park Avenue in Manhattan was sold for $70.5 million last month, making it the most expensive residence sold in New York City since April 2021. 432 Park Avenue was designed by architect Rafael Vinoly and construction was officially completed in 2015.

Which is the richest park of New York? ›

Central Park South is home to billionaires row, so there's no surprise it ranks amongst New York City's wealthiest areas.

What is the poorest borough in New York City? ›

The Bronx has the highest rate of poverty in New York City, and the greater South Bronx is the poorest area.

What is the richest part of Brooklyn? ›

The confluence of historic buildings and ease of access to Manhattan make Brooklyn Heights one of the most expensive neighborhoods in Brooklyn.

Where does old money live in NYC? ›

The Upper East Side of Manhattan has long been known for old money in New York City (Rockefellers, Roosevelts, Kennedys, etc.). The real estate has been some of the priciest in the city. The Upper East Side includes Park Ave., Madison Ave., and Fifth Ave.

Who lives on Billionaire Row in NY? ›

The average sales price for a home in one of these luxury buildings is over 22 million, making them unaffordable to even some of the city's richest residents. Therefore, the enclave tends to attract wealthy business moguls, hedge fund managers, corporate executives, and celebrities.

Which side of Manhattan is richer? ›

The Upper West Side and the Upper East Side are two of the most desirable places to live in NYC. Both neighborhoods are among the most sought-after and wealthiest areas of the city. They are also home to some of the most iconic buildings in NYC.

What part of New York do most celebrities live in? ›

Share: NYC is a wonderful place to live, so it's no wonder that the city is home to numerous celebrities. From the modern, glamorous, and expensive neighborhoods downtown to the magnificent Upper East Side and Upper West Side homes overlooking Central Park, the rich and famous love the city.

What is the most desired neighborhood in NYC? ›

FAQs About NYC Neighborhoods

The nicest neighborhoods in New York are Park Slope, the East Village, and Astoria. These areas have an excellent array of restaurants, nightlife, parks, and local events. However, they're not so busy that it's impossible to live.

What are the wealthiest zip codes in NYC? ›

The most expensive ZIP codes in New York and Los Angeles
  • Water Mill, New York (11976) ...
  • Shelter Island Heights, New York (11965) ...
  • Newport Beach, California (92662) ...
  • Bridgehampton, New York (11932) ...
  • Amagansett, New York (11930) ...
  • Newport Beach, California (92661) ...
  • Mill Neck, New York (11765) ...
  • Quogue, New York (11959)
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Who owns the most expensive apartment in NYC? ›

The listing, which is currently the most expensive in New York City, is held by Million Dollar Listing New York star Ryan Serhant.

What company owns the most property in NYC? ›

NYC Property Owners With The Biggest Footprints
1NYC (government)362.1M
2Vornado Realty Trust29.7M
3SL Green Realty28.7M
4Tishman Speyer20.5M
16 more rows
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Who bought the most expensive apartment in NYC? ›

NEW YORK — Ken Griffin, the billionaire founder of hedge fund Citadel, paid a U.S.-record $238 million for a penthouse condominium overlooking Manhattan's Central Park, his spokesman said.

Which US state has no billionaires? ›

One of the country's least populous states, Delaware is not home to any billionaires, and brother and sister Elizabeth Snyder and Robert Gore tie as the state's wealthiest people – each with a net worth of $885 million.

What city has the richest citizens? ›

Monaco: Arguably the world's top safe haven for the super-rich. The average wealth of a person living in Monaco exceeds USD 10 million, making it the top-ranked city in the world on a wealth per capita basis.

Who is the richest city in the world? ›

New York City came in at no. 1 on the list. The report found that from 2012 to 2022, the city had a 40% growth in its population of high-net-worth individuals. According to Henley & Partner's report, NYC is home to 340,000 individuals worth over $1 million, 724 centi-millionaires, and 58 billionaires.

What is the wealthy street in LA? ›

The richest neighborhood in Los Angeles is Bel-Air. Making its claim to fame on the popular series The Fresh Prince of Bel Air, this neighborhood is located directly across from Sunset Boulevard and is considered one of the most exclusive residential areas in Los Angeles.

What is the richest suburb in Los Angeles? ›

One of the most exclusive communities in the country, Bel-Air has become synonymous with extravagance. The ritzy, private enclave is set in a remote stretch of hillside between Brentwood and Beverly Hills just north of Westwood.

What is the richest house in LA? ›

The home sits above the Pacific Ocean on an 8-acre bluff. Its sale, in May 2022 to Jay-Z and Beyoncé for a reported $200 million, sets a new California record for most expensive home ever sold. The sale bests the previous record set by the property nextdoor, 27740 PCH, which sold in 2021 for $177 million.

What is Park Avenue famous for? ›

Park Avenue runs north-south in Manhattan and the Bronx. Per square foot, Park Avenue is some of the world's most expensive real estate. This wide boulevard is a feature of NYC; it runs parallel to Madison Avenue. Park Avenue was known as 4th Avenue in days gone by.

What is Park Avenue New York famous for? ›

Stretching from 42nd to 51st Streets between Madison and Lexington Avenues, it came to include the Chrysler Building and other prestigious office buildings; luxury apartment houses along Park Avenue; and an array of high-end hotels that included the Marguery, Park Lane, and Waldorf Astoria.

Who has lived in 740 Park Avenue? ›

The “limestone fortress” was once home to John D. Rockefeller Jr. and a young Jacqueline Bouvier. Current residents include Ronald Lauder, the Blackstone Group's Stephen Schwartzman, Merrill Lynch CEO John Thain and hedge fund manager J.

What is the most famous apartment building in New York City? ›

The venerable Dakota is one of the first luxury apartment buildings in New York and certainly the most famous.

What is the best shopping street in New York? ›

New York's Fifth Avenue is the city's most famous shopping street, and probably the most famous shopping street in the world. Here, you can find flagship stores for nearly every high-end designer—Louis Vuitton, Tiffany & Co., Gucci, Prada, Valentino, Armani, Fendi, and more.

Is Park Avenue the most expensive? ›

An apartment at 432 Park Avenue in Manhattan was sold for $70.5 million last month, making it the most expensive residence sold in New York City since April 2021. 432 Park Avenue was designed by architect Rafael Vinoly and construction was officially completed in 2015.

What is New York most famous street? ›

1. Broadway, the most famous street in New York. Broadway is one of the oldest and most famous streets in NYC, serving as a main thoroughfare through multiple boroughs.

What is the most visited park in NYC? ›

Central Park is the most popular park in New York for sure, but there may be another you find is the most beautiful park—it's all in the eye of the beholder. These parks are a must for locals and visitors alike.

What is on one New York City most famous avenue? ›

Fifth Avenue is a major and prominent thoroughfare in the borough of Manhattan in New York City, New York, United States.

What street is billionaires row in New York? ›

Why establish the West 57th Street area as Billionaires Row? From the 57th Street corridor, as one goes higher in these buildings, the views open up to the most spectacular sweeping views of Central Park's landscape. In addition, the Billionaires Row NYC views are breathtaking.

What street is billionaires row? ›

Where Is Billionaire's Row? Billionaire's Row refers to a strip of luxury skyscrapers clustered around 57th Street between Columbus Circle and Park Avenue. Some of these buildings are among the tallest in the world and the most expensive.

What apartments do celebrities live in NYC? ›

Check out these top buildings that attract A-listers and top celebrities as tenants.
  • The San Remo, 145 Central Park West. ...
  • Eldorado, 300 Central Park West. ...
  • The Dakota, 1 West 72nd Street. ...
  • 443 Greenwich Street. ...
  • 195 Hudson Street, Tribeca. ...
  • 173/176 Perry Street, West Village. ...
  • The Beresford – 211 Central Park West.
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What is the most expensive flat in NY? ›

Known as 'The One Above All Else,' the lofty seven-bedroom apartment in New York City has made its mark as the tallest residential complex in the world and the most expensive, as it is currently on the market for $250million.


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