Home to diplomats and financial titans of yesteryear, Hollywood types and captains of industry, 1 Sutton Place South, a Candela structure dating to 1926, has ample reason to cling to tradition. “This is a very, very selective building,” June Gottlieb, a broker at Warburg Realty who has done work in the building, recently told The Observer. “It always has been. It still is. It always will be.” While other old-world co-ops like River House have relaxed once-unforgiving interview processes and begun to allow financing on purchases, 1 Sutton Place has remain unchanged. That all transactions at the building take place in cash reflects and perhaps facilitates the quiet and unflashy preferences of residents. “There is still a very elegant, understated stock of people in this building. They want to stay under the radar.” Not even the most reclusive co-op owner can hide from city records, though, and before long, the buyers of a unit in the “A line”—the building’s fanciest—last listed for $14 million and newly in contract, will be revealed. (Unless 1 Sutton does the unheard of and permits the buyer to use a limited liability corporation.) Read More
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