720 Park Avenue Corporation

720 Park Avenue Corporation Introduce

In the world of New York City real estate, certain addresses carry a level of prestige and historical significance that sets them apart. 720 Park Avenue is one such address. The 720 Park Avenue Corporation, as the managing entity of this distinguished pre-war cooperative building, oversees a property that is a prime example of luxurious Upper East Side living. This article provides a factual and detailed look at this iconic building, which functions as a unique real estate entity in its own right. We will explore its historical significance, the amenities and features that define its residential experience, and what makes it a coveted address for a certain type of New York resident.

Constructed in 1928, 720 Park Avenue was the collaborative masterpiece of renowned architect Rosario Candela and the architectural firm Cross & Cross. Candela is celebrated for his masterful designs of high-end, multi-level apartments, and 720 Park Avenue is often cited as one of his finest works. The building's Neo-Georgian style, combined with meticulous attention to detail and grand proportions, established a new standard for luxury cooperative living in the early 20th century. The building comprises 17 stories and features a limited number of units, giving it an exclusive and intimate feel. This low density, combined with the spacious layouts, high ceilings, and pre-war architectural details like crown molding and fireplaces, creates a sense of palatial living that is highly sought after by discerning buyers. The building has been home to prominent figures, further cementing its status as a symbol of American aristocracy and refined elegance.

Unlike a traditional real estate agency that handles a wide variety of listings across different neighborhoods, the 720 Park Avenue Corporation is the managing body of a specific, prestigious cooperative. Its role is to oversee the property and its community of residents. While units are bought and sold through external real estate brokers and firms, the corporation itself acts as the gatekeeper, managing the rigorous co-op application process and upholding the building's high standards. This is a crucial distinction. Prospective buyers are not just purchasing a home; they are joining an exclusive community, and the corporation ensures that all new residents align with the building's values and financial requirements. This system, while sometimes complex, helps to maintain the building's value, prestige, and sense of community, which are key reasons for its enduring appeal.

The building's allure is not solely based on its history and architecture. It also provides a comprehensive living experience with a suite of amenities that are considered luxurious, even by today's standards. A full-time doorman and a white-glove service staff add a personal touch and ensure residents receive the highest level of privacy, security, and service. The presence of a private fitness center and individual storage spaces are conveniences that contribute to a comfortable and upscale lifestyle. This combination of historic charm and modern amenities, all managed by the corporation, ensures that residents enjoy an unparalleled living experience. The positive reviews, though brief, hint at this sense of quality and professional management, where individuals like "Jamie" are described as a "blessing" and the overall service is "Exelent."

Location and Accessibility

720 Park Avenue is situated at a prime and highly desirable address: 720 Park Ave, New York, NY 10021, USA. This location places it in the heart of Lenox Hill, a prestigious sub-neighborhood of the Upper East Side. The building's strategic position at the corner of Park Avenue and 70th Street provides residents with incredible convenience and access to some of New York City's most famous landmarks. It is just two blocks east of Central Park, offering a quick escape to nature and recreation. It is also a short walk from the cultural institutions of Museum Mile and the world-class shopping of Fifth and Madison Avenues. This central location combines the tranquility of a residential avenue with the vibrant energy of Manhattan. The building is designed with accessibility in mind, featuring a wheelchair accessible entrance to ensure ease of access for all residents and visitors.

Services Offered

As a real estate agency, the 720 Park Avenue Corporation's services are focused on the management and oversight of its cooperative building and its residential community. These services are distinct from those of a typical real estate brokerage.

Property Management: The corporation is responsible for the overall management and maintenance of the building, ensuring that it remains a well-preserved and highly functional living space. This includes overseeing building staff, maintenance, and community rules.
Cooperative Governance: The corporation enforces the co-op's by-laws and house rules, which govern everything from renovations to pet policies and resident behavior. This is a key function to maintain the building's value and the quality of life for its residents.
Application and Screening Process: They manage the rigorous application process for all prospective buyers. This includes financial vetting and a formal board interview, which is a standard practice for prestigious co-ops in New York City.
Flip Tax Collection: The corporation collects a building flip tax, which is a fee paid by the purchaser at closing. This revenue is used for the maintenance and financial health of the building.
Community Amenities Management: They oversee the operation and maintenance of the building's amenities, such as the private fitness center, storage spaces, and the services provided by the doorman and staff.

Features / Highlights

720 Park Avenue stands out not just as a residence, but as an institution in the New York real estate market, thanks to several key features.

Iconic Architecture: Designed by the legendary Rosario Candela, the building is a stunning example of pre-war Neo-Georgian architecture with an elegant facade and grand, spacious interiors.
Exclusivity: With a limited number of units, the building offers an intimate and private living experience, far from the high-density nature of many modern New York residences.
White-Glove Service: The presence of a full-time doorman and dedicated staff provides residents with a high level of security and personalized service.
Prestigious Address: An address on Park Avenue in the Upper East Side is a powerful status symbol, offering a location of unmatched convenience and prestige.
Accessibility: The building's wheelchair accessible entrance is a thoughtful feature that ensures it is a welcoming space for all.

Contact Information

For any inquiries related to the management of the building, or for prospective residents to learn about the application process, you can contact the 720 Park Avenue Corporation.

Address: 720 Park Ave, New York, NY 10021, USA

Phone: (212) 288-0838

What is worth choosing

Choosing to live at 720 Park Avenue is not the same as choosing a standard apartment. It is a decision to embrace a specific lifestyle and become part of a historic community. For those in a position to consider such a move, the value lies in the combination of unparalleled luxury, a deep sense of privacy, and a location that is second to none. The co-op's rigorous application process, while daunting, serves a crucial purpose: it protects the integrity and value of the building and ensures a cohesive community of residents. The architectural pedigree, combined with the white-glove service and on-site amenities, offers a level of comfort and elegance that is increasingly rare in modern construction. The 720 Park Avenue Corporation's meticulous management ensures that this historic landmark continues to thrive and provide a superior living experience. For individuals who value history, prestige, and an exclusive sense of place, this building represents the pinnacle of New York City cooperative living and is a truly worthwhile choice.