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	<title>Observer &#187; At Last! Lonely Duplex At 740 Park Avenue Finds Love</title>
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		<title>Observer &#187; At Last! Lonely Duplex At 740 Park Avenue Finds Love</title>
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		<title>At Last! Lonely Duplex At 740 Park Avenue Finds Love</title>

		<comments>http://observer.com/2012/06/at-last-lonely-duplex-at-740-park-avenue-finally-finds-love/#comments</comments>
		<pubDate>Mon, 11 Jun 2012 13:50:34 -0400</pubDate>
					<link>http://observer.com/2012/06/at-last-lonely-duplex-at-740-park-avenue-finally-finds-love/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
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		<description><![CDATA[<p>After nearly four years on the market and a $12 million price reduction, co-op 4/5 C at <strong>740 Park Avenue</strong> has finally found a buyer. And just when it had been empty long enough to attain spooky apartment status among the building's exceedingly well-heeled children! What door will they dare each other to run past now? <a href="http://observer.com/2011/08/recession-reaches-redoubt-of-redolently-wealthy-at-740-park/?show=all">Perhaps Madoff crony Ezra Merkin's will do</a>?</p>
<p>The 15-room duplex, listed with <strong>Sotheby's</strong> brokers <strong>Serena Boardman</strong> and <strong>Meredyth Smith</strong> for <strong>$23 million</strong>, is now in contract, according to the Olshan Luxury Market report (it was also last week's biggest residential contract, broker Donna Olshan reveals).</p>
<p>The deal, coming close on the heels of <a href="http://observer.com/2012/05/oaktree-capital-chief-buys-courtney-sale-ross-apartment-for-52-5-m-setting-co-op-record/">the record-for-a-co-op sale of Courtney Sale Ross' apartment to Oaktree Capital Chief Howard Marks</a>, means the end of available units at the most venerated of all New York addresses.<!--more--></p>
<p>It's unclear why apartment 4/5 C, which belonged to <strong>June Speight</strong>—widow of the one-time co-op board president <strong>Randolph Speight</strong>, a gate-keeper more feared and admired than St. Peter—took so long to sell. Perhaps it was <a href="http://ny.curbed.com/archives/2011/01/12/inside_the_740_park_avenue_apartment_nobody_wants.php#park-c-3">the apartment's entrance at 71 East 71st Street</a>, as Curbed speculated, or maybe it was haunted by the Speight's ghosts, unable to depart the earthly realm until a buyer with sufficiently blue blood was found?</p>
<p>The four-bedroom apartment certainly ticks all the 740 Park boxes. There's a private elevator landing, a "vast marble gallery," a "baronial living room" and a "handsome walnut-paneled library." Really, it sounds like the perfect place for a person of the proper pedigree.</p>
<p>Perhaps the apartment just had the bad fortune to be listed not long before the recession? Or maybe a fresh coat of paint and the removal of Ms. Speight's fusty furniture—<a href="http://www.sothebyshomes.com/nyc/sales/0016023">visible in the new listing photos</a>—did the trick? After all, even in apartment buildings with the most celebrated histories, a buyer has to be able to visualize the future, <a href="http://observer.com/2010/03/the-hasbeen/">or you end up living in River House</a>.</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p>After nearly four years on the market and a $12 million price reduction, co-op 4/5 C at <strong>740 Park Avenue</strong> has finally found a buyer. And just when it had been empty long enough to attain spooky apartment status among the building's exceedingly well-heeled children! What door will they dare each other to run past now? <a href="http://observer.com/2011/08/recession-reaches-redoubt-of-redolently-wealthy-at-740-park/?show=all">Perhaps Madoff crony Ezra Merkin's will do</a>?</p>
<p>The 15-room duplex, listed with <strong>Sotheby's</strong> brokers <strong>Serena Boardman</strong> and <strong>Meredyth Smith</strong> for <strong>$23 million</strong>, is now in contract, according to the Olshan Luxury Market report (it was also last week's biggest residential contract, broker Donna Olshan reveals).</p>
<p>The deal, coming close on the heels of <a href="http://observer.com/2012/05/oaktree-capital-chief-buys-courtney-sale-ross-apartment-for-52-5-m-setting-co-op-record/">the record-for-a-co-op sale of Courtney Sale Ross' apartment to Oaktree Capital Chief Howard Marks</a>, means the end of available units at the most venerated of all New York addresses.<!--more--></p>
<p>It's unclear why apartment 4/5 C, which belonged to <strong>June Speight</strong>—widow of the one-time co-op board president <strong>Randolph Speight</strong>, a gate-keeper more feared and admired than St. Peter—took so long to sell. Perhaps it was <a href="http://ny.curbed.com/archives/2011/01/12/inside_the_740_park_avenue_apartment_nobody_wants.php#park-c-3">the apartment's entrance at 71 East 71st Street</a>, as Curbed speculated, or maybe it was haunted by the Speight's ghosts, unable to depart the earthly realm until a buyer with sufficiently blue blood was found?</p>
<p>The four-bedroom apartment certainly ticks all the 740 Park boxes. There's a private elevator landing, a "vast marble gallery," a "baronial living room" and a "handsome walnut-paneled library." Really, it sounds like the perfect place for a person of the proper pedigree.</p>
<p>Perhaps the apartment just had the bad fortune to be listed not long before the recession? Or maybe a fresh coat of paint and the removal of Ms. Speight's fusty furniture—<a href="http://www.sothebyshomes.com/nyc/sales/0016023">visible in the new listing photos</a>—did the trick? After all, even in apartment buildings with the most celebrated histories, a buyer has to be able to visualize the future, <a href="http://observer.com/2010/03/the-hasbeen/">or you end up living in River House</a>.</p>
<p><em>kvelsey@observer.com</em></p>
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