740 Park Avenue

Description

740 Park Avenue is a luxury cooperative apartment building on Park Avenue between East 71st and 72nd Streets in the Lenox Hill neighborhood of Manhattan, New York City, which was described in Business Insider in 2011 as "a legendary address" that was "at one time considered (and still thought to be by some) the most luxurious and powerful residential building in New York City". The "pre-war" building's side entrance address is 71 East 71st Street.The 17-story building was designed in an Art Deco architectural style and consists of 31 units, including duplexes and triplexes. The architectural height of the building is 78.03m.HistoryThe building was constructed in 1929 by James T. Lee, the grandfather of Jacqueline Kennedy Onassis – Onassis lived there as a child – and was designed by Rosario Candela and Arthur Loomis Harmon; Harmon became a partner of the newly named Shreve, Lamb and Harmon during the year of construction. The building was officially opened in October 1930, a year after the Great Depression began, and the poor timing was devastating. Even though the New York elite had moved in, the building had failed financially by 1933. It remained in the red for 50 years.