Real estate mogul William Zeckendorf has sold his co-op apartment at 740 Park Ave. to Trian Partners President Peter May for $29.5 million, according to property records.
The 17-floor unit was sold on June 26, records show.
Constructed in 1929 and opened in 1930, the first year of the Great Depression, the 19-story Art-Deco building in Manhattan’s Lenox Hill neighborhood is one of the city’s legendary addresses.
It was designed by Rosario Candela and Arthur Loomis Harmon, who went on to work on some of the city’s most spectacular buildings. Candela also designed the residences at 834 Fifth Ave., 960 Fifth Ave., 720 Park Ave. and The Sonora, 770 Park Ave. Harmon became a partner in Shreve, Lamb and Harmon, which designed the Empire State Building in 1931.
Jackie Kennedy Onassis also lived 740 Park Ave. when she was a child. Her grandfather, James T. Lee, built it.
More: The Wonder of Woven Furniture
John D. Rockefeller Jr. was among the more notable residents of its 31 units, which include duplexes and triplexes.
The building has been the subject of at least one book—Michael Gross’ 2005 tome “740 Park: The Story of the World’s Richest Apartment Building”—and one film—the 2012 documentary “Park Avenue: Money, Power and the American Dream,” which was part of PBS’ “Independent Lens” series.
Mr. Zeckendorf, called at his office, could not immediately be reached for comment. Mr. May declined to comment.
Mr. May, a founding partner of Trian Partners, is the non-executive vice chairman of The Wendy’s Co. and a member of the board of directors of Mondelēz International, the Illinois-based food and beverage company. He was the president, chief operating officer and a director of Triarc Cos. when its holdings included Arby’s Restaurant Group and Snapple Beverage Group.
From Penta Bentley Electrifies Its Line-Up
Mr. Zeckendorf, the owner, founder and co-chairman of Zeckendorf Development and Terra Holdings, the parent company of Brown Harris Stevens and Halstead Property, has been in the real estate business for a quarter century.
According to his official bio, he has developed some $4 billion in properties, including the luxury condominium projects Fifteen Central Park West, which has 200 units; 520 Park Ave., which has 54 stories and 31 units; 50 United Nations Plaza, which is across from the United Nations building; and 18 Gramercy Park, which is a 1927, 16-unit Georgian Revival building reimagined by Robert A.M. Stern Architects.
The Real Deal first reported the sale of 740 Park Ave.