20 distinguished Manhattan co-op buildings
740 Park Avenue is one of the best-known prewar co-op addresses in Manhattan. The large apartment plans are the reason to examine it closely.
- Address
- 740 Park Avenue
- Location
- Park Avenue
- Ownership
- Cooperative
- Architect
- Rosario Candela and Arthur Loomis Harmon
- Completed
- 1930
Architecture and building history
Rosario Candela and Arthur Loomis Harmon designed 740 Park Avenue, which opened in 1930. The building occupies the west side of Park Avenue between East 71st and 72nd Streets and includes an entrance at 71 East 71st Street.
Its reputation is closely associated with the scale of its residences, including apartments arranged over more than one level. The restrained exterior gives relatively little away about that internal scale. A useful comparison starts with the apartment's plan, rather than the building's roster of former residents.
What to compare in the apartment
Large rooms can be an advantage, but the distribution of space matters. Follow the route from the entrance through the principal entertaining rooms, then examine how bedrooms, staff areas and kitchens are separated.
For a duplex or triplex, establish which rooms occupy each floor and how the stairs affect everyday use. A major renovation can involve extensive coordination within a co-op. Review the existing approved configuration and the building's current alteration requirements before pricing a proposed redesign.
The location
The East 71st–72nd Street position gives 740 Park a central place in the Lenox Hill co-op corridor. Compare that avenue setting with the park frontage available at Fifth Avenue buildings, particularly if an open outlook is a priority.
Services, maintenance and purchase requirements
Request the current service schedule and maintenance breakdown for the apartment. Establish which services are included, which carry separate charges and whether storage or other ancillary space transfers with the shares.
A co-op purchase involves shares in the building corporation and a proprietary lease. Have your attorney review the financial statements, minutes, insurance and any assessment notices. Confirm the current requirements for financing, liquidity, intended occupancy, ownership structure, subletting and renovations with the managing agent. Published summaries can lag the governing documents.
Compare the complete cost of ownership with the apartment’s condition and the work you intend to do. A recognizable address does not establish the condition of the home or the co-op’s finances.
Where it fits on a shortlist
The scale of the actual residence, circulation between floors and the work required to adapt an older plan.
Compare this building with 720 Park Avenue, 770 Park Avenue. The top-20 co-op guide explains the wider selection.
For purchase steps, read buying an apartment in NYC and the co-op versus condo guide. For market-wide inventory, use the 100 newest Manhattan co-op listings.
Discuss an apartment in this building
Tell us the space you need, your timing and how you intend to use the home. We can help assess relevant availability and compare the building with other co-ops on your shortlist.
Architecture and image sources
Image author and license are credited with the photograph. Building descriptions cover architecture and purchase considerations; current availability and co-op policies require individual confirmation.