834 Fifth Avenue
Encyclopedia
834 Fifth Avenue is a luxury residential housing cooperative
in Manhattan
, New York City
. It is located on Fifth Avenue at the corner of East 64th Street opposite the Central Park Zoo in Central Park. The limestone
-clad building was designed by Rosario Candela
, a prolific designer of luxury apartment buildings in Manhattan during the period between World War I
and World War II
.
834 Fifth Avenue is widely regarded as one of the most prestigious apartment houses in New York City. It has been called "the most pedigreed building on the snobbiest street in the country’s most real estate-obsessed city" in an article in the New York Observer newspaper. This status is due to the building's overall architecture, the scale and layout of the apartments, and the notoriety of its current and past residents. It is widely regarded as one of the finest buildings designed by Rosario Candela.
The building was constructed in 1931, and was one of the last luxury apartment houses completed before the Great Depression
halted such projects in New York City. Its street facing facades are composed entirely of limestone
. Elements of Art Deco
styling were utilized on the entry ways and portions of the Fifth Avenue facade
. The building uses setback
s at the upper floors to create terraces for several apartments and provide visual interest from a distance.
The building is incorporated as a housing cooperative
, where tenants own shares in the corporation
which owns the building; those shares entitle the owner to occupy a designated unit in the building. Similar to other ultraluxury apartment buildings in New York City, a person who purchases a unit in the building must pay entirely in cash for the apartment. No mortgage
financing is allowed. In addition, the cooperative's board is rumored to require potential buyers to possess liquid assets in excess of ten times the value of the purchased unit.
s on 16 floors. The building occupies a plot of land which is approximately 150' by 100', allowing for very spacious units. The building's apartments range in size from approximately 4000 sq ft (371.6 m²). to well over 7000 sq ft (650.3 m²). The largest single unit is approximately 12000 sq ft (1,114.8 m²).
Apartments in the building generally have ceiling heights of eleven feet or greater. Very few apartments have layouts similar to each other. There are three maisonette apartments, units which have entrances from the street as well as from the building's interior lobby
. The upper floors contain a preponderance of duplex
units and one triplex. Based on the original floor plans for the building, there are several 6000 sq ft (557.4 m²). simplex
units which contain four bedrooms each, as well as 5000 sq ft (464.5 m²). duplexes with three bedrooms and numerous servant's quarters.
The entire southern side of the building along 64th Street is composed of duplex apartments. These units all range from 6,000 to over 8000 sq ft (743.2 m²); they have large entertaining rooms and four to six bedroom
s.
, Johnson & Johnson
, Woolworth Stores, the Hearst Corporation
, Ford Motor Co. and the Chase Manhattan Bank
. The building has long been associated with the Rockefeller family
and its various business and charitable
interests.
In addition, 834 Fifth Avenue has welcomed a higher percentage of entrepreneur
s and self-made businessmen than its peer buildings. Firms founded by tenants of 834 Fifth include Charles Schwab
, TLC Beatrice, the Limited and Fox
. This helped establish its reputation as a haven for the high-achieving elite within New York society.
When Charlie Chaplin
was in New York City
during his contract negotiations with Mutual Film
, and found out that his first love, Hetty Kelly, was staying with her sister, Mrs. Frank Jay Gould
, at 834 Fifth Avenue, he stalked the place.http://books.google.com/books?id=B3Qq-3nT8t4C&pg=PA37&lpg=PA37&dq=834+fifth+avenue+charlie+chaplin&source=web&ots=LqSRQsvzB_&sig=VSa-p9V33aEGke83iAlEyZJCEvM
Past and current residents include:
paid $44 million for the apartment formerly owned by Laurance Rockefeller. At the time, this was the largest amount paid in New York City history for a cooperative apartment, and was a significant premium to the price paid for another famous apartment, the Rockefeller penthouse at 740 Park Avenue
. That apartment sold for approximately $30 million (despite press reports claiming a $36 million price). The 834 Fifth Rockefeller apartment contained twenty rooms spread over 8000 sq ft (743.2 m²). of interior space and 4000 sq ft (371.6 m²) of terraces.
Apartments in the building rarely come to market, and typically command prices well over $3000 per square foot or $20 to $30 million.
Charles Schwab
apparently spent approximately $25 mm for a ninth floor unit in the building, paying $11 mm over the initial asking price.
, 960 Fifth Avenue, 998 Fifth Avenue, 720 Park Avenue, 740 Park Avenue
and One Sutton Place
South. Other very prestigious apartment houses include 1040 Fifth Avenue
, 730 Park Avenue, 770 Park Avenue, 778 Park Avenue, River House, the Dakota
, the San Remo
and the Beresford
.
Housing cooperative
A housing cooperative is a legal entity—usually a corporation—that owns real estate, consisting of one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. ...
in Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
, New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. It is located on Fifth Avenue at the corner of East 64th Street opposite the Central Park Zoo in Central Park. The limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
-clad building was designed by Rosario Candela
Rosario Candela
Rosario Candela was an Italian American architect who achieved renown through his apartment building designs in New York City, primarily during the boom years of the 1920s. He is credited with defining the city's characteristic terraced setbacks and signature penthouses. Over time, Candela's...
, a prolific designer of luxury apartment buildings in Manhattan during the period between World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
and World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.
834 Fifth Avenue is widely regarded as one of the most prestigious apartment houses in New York City. It has been called "the most pedigreed building on the snobbiest street in the country’s most real estate-obsessed city" in an article in the New York Observer newspaper. This status is due to the building's overall architecture, the scale and layout of the apartments, and the notoriety of its current and past residents. It is widely regarded as one of the finest buildings designed by Rosario Candela.
The building was constructed in 1931, and was one of the last luxury apartment houses completed before the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
halted such projects in New York City. Its street facing facades are composed entirely of limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
. Elements of Art Deco
Art Deco
Art deco , or deco, is an eclectic artistic and design style that began in Paris in the 1920s and flourished internationally throughout the 1930s, into the World War II era. The style influenced all areas of design, including architecture and interior design, industrial design, fashion and...
styling were utilized on the entry ways and portions of the Fifth Avenue facade
Facade
A facade or façade is generally one exterior side of a building, usually, but not always, the front. The word comes from the French language, literally meaning "frontage" or "face"....
. The building uses setback
Setback (architecture)
A setback, sometimes called step-back, is a step-like recession in a wall. Setbacks were initially used for structural reasons, but now are often mandated by land use codes.-History:...
s at the upper floors to create terraces for several apartments and provide visual interest from a distance.
The building is incorporated as a housing cooperative
Housing cooperative
A housing cooperative is a legal entity—usually a corporation—that owns real estate, consisting of one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. ...
, where tenants own shares in the corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
which owns the building; those shares entitle the owner to occupy a designated unit in the building. Similar to other ultraluxury apartment buildings in New York City, a person who purchases a unit in the building must pay entirely in cash for the apartment. No mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
financing is allowed. In addition, the cooperative's board is rumored to require potential buyers to possess liquid assets in excess of ten times the value of the purchased unit.
Apartments
834 Fifth has 24 apartmentApartment
An apartment or flat is a self-contained housing unit that occupies only part of a building...
s on 16 floors. The building occupies a plot of land which is approximately 150' by 100', allowing for very spacious units. The building's apartments range in size from approximately 4000 sq ft (371.6 m²). to well over 7000 sq ft (650.3 m²). The largest single unit is approximately 12000 sq ft (1,114.8 m²).
Apartments in the building generally have ceiling heights of eleven feet or greater. Very few apartments have layouts similar to each other. There are three maisonette apartments, units which have entrances from the street as well as from the building's interior lobby
Lobby (room)
A lobby is a room in a building which is used for entry from the outside. Sometimes referred to as a foyer or an entrance hall.Many office buildings, hotels and skyscrapers go to great lengths to decorate their lobbies to create the right impression....
. The upper floors contain a preponderance of duplex
Duplex (building)
The term duplex can be used to describe several different dwelling unit configurations:A duplex house is defined as a dwelling having apartments with separate entrances for two families. This includes two-story houses having a complete apartment on each floor and also side-by-side apartments on a...
units and one triplex. Based on the original floor plans for the building, there are several 6000 sq ft (557.4 m²). simplex
Simplex
In geometry, a simplex is a generalization of the notion of a triangle or tetrahedron to arbitrary dimension. Specifically, an n-simplex is an n-dimensional polytope which is the convex hull of its n + 1 vertices. For example, a 2-simplex is a triangle, a 3-simplex is a tetrahedron,...
units which contain four bedrooms each, as well as 5000 sq ft (464.5 m²). duplexes with three bedrooms and numerous servant's quarters.
The entire southern side of the building along 64th Street is composed of duplex apartments. These units all range from 6,000 to over 8000 sq ft (743.2 m²); they have large entertaining rooms and four to six bedroom
Bedroom
A bedroom is a private room where people usually sleep for the night or relax during the day.About one third of our lives are spent sleeping and most of the time we are asleep, we are sleeping in a bedroom. To be considered a bedroom the room needs to have bed. Bedrooms can range from really simple...
s.
Residents
834 Fifth Avenue has historically been home to a large number of founders and heirs of major American family fortunes. The fortunes include those associated with Standard OilStandard Oil
Standard Oil was a predominant American integrated oil producing, transporting, refining, and marketing company. Established in 1870 as a corporation in Ohio, it was the largest oil refiner in the world and operated as a major company trust and was one of the world's first and largest multinational...
, Johnson & Johnson
Johnson & Johnson
Johnson & Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500....
, Woolworth Stores, the Hearst Corporation
Hearst Corporation
The Hearst Corporation is an American media conglomerate based in the Hearst Tower, Manhattan in New York City, New York, United States. Founded by William Randolph Hearst as an owner of newspapers, the company's holdings now include a wide variety of media...
, Ford Motor Co. and the Chase Manhattan Bank
Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...
. The building has long been associated with the Rockefeller family
Rockefeller family
The Rockefeller family , the Cleveland family of John D. Rockefeller and his brother William Rockefeller , is an American industrial, banking, and political family of German origin that made one of the world's largest private fortunes in the oil business during the late 19th and early 20th...
and its various business and charitable
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
interests.
In addition, 834 Fifth Avenue has welcomed a higher percentage of entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
s and self-made businessmen than its peer buildings. Firms founded by tenants of 834 Fifth include Charles Schwab
Charles Schwab
Charles Schwab may refer to:*Charles M. Schwab , American steel magnate*Charles R. Schwab , founder of the eponymous brokerage*Charles Schwab Corp., an American based brokerage firm...
, TLC Beatrice, the Limited and Fox
Fox Entertainment Group
The Fox Entertainment Group is an American entertainment industry company that owns film studios and terrestrial, cable, and direct broadcast satellite television properties...
. This helped establish its reputation as a haven for the high-achieving elite within New York society.
When Charlie Chaplin
Charlie Chaplin
Sir Charles Spencer "Charlie" Chaplin, KBE was an English comic actor, film director and composer best known for his work during the silent film era. He became the most famous film star in the world before the end of World War I...
was in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
during his contract negotiations with Mutual Film
Mutual Film
Mutual Film Corporation was an early American motion picture conglomerate best remembered today as the producers of some of Charlie Chaplin's greatest comedies....
, and found out that his first love, Hetty Kelly, was staying with her sister, Mrs. Frank Jay Gould
Frank Jay Gould
Frank Jay Gould was a philanthropist and the son of financier Jay Gould. He was the owner of a string of French Riviera casinos and hotels.-Biography:...
, at 834 Fifth Avenue, he stalked the place.http://books.google.com/books?id=B3Qq-3nT8t4C&pg=PA37&lpg=PA37&dq=834+fifth+avenue+charlie+chaplin&source=web&ots=LqSRQsvzB_&sig=VSa-p9V33aEGke83iAlEyZJCEvM
Past and current residents include:
- Laurance RockefellerLaurance RockefellerLaurance Spelman Rockefeller was a venture capitalist, financier, philanthropist, a major conservationist and a prominent third-generation member of the Rockefeller family. He was the fourth child of John D. Rockefeller, Jr. and brother to John D...
(who owned the building before it became a cooperative, and resided in the penthousePenthouse apartmentA penthouse apartment or penthouse is an apartment that is on one of the highest floors of an apartment building. Penthouses are typically differentiated from other apartments by luxury features.-History:...
triplex for nearly fifty years) - Rupert MurdochRupert MurdochKeith Rupert Murdoch, AC, KSG is an Australian-American business magnate. He is the founder and Chairman and CEO of , the world's second-largest media conglomerate....
(founder of the Fox Network, BSkyB) - Loida Nicolas-LewisLoida Nicolas-LewisLoida Nicolas Lewis is a Filipino-born, New York-based industrialist, philanthropist, civic leader, motivational speaker, author, and lawyer.- Business interests :...
(business woman, philanthropist, widow of Reginald LewisReginald LewisReginald F. Lewis , was an American businessman, who was one of the most successful business leaders during the 1980s. He was the richest African-American man in the 1980s. Born in Baltimore, Maryland, he grew up in a middle class neighborhood. He won a football scholarship to Virginia State...
) - Leslie Wexner (founder, The Limited)
- John GutfreundJohn GutfreundJohn H. Gutfreund is the former CEO of Salomon Brothers Inc, an investment bank that gained notoriety in the 1980s. Gutfreund turned Salomon Brothers from a private partnership into a publicly traded corporation which started a trend in Wall Street for investment companies to go public. He became...
(former chairman of Salomon BrothersSalomon BrothersSalomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
) and wife Susan - Damon Mezzacappa (financier, former vice chairman of Lazard Freres)
- Elizabeth ArdenElizabeth ArdenFlorence Nightingale Graham , who went by the business name Elizabeth Arden, was a Canadian-American businesswoman who built a cosmetics empire in the United States. At the peak of her career, she was one of the wealthiest women in the world.-Biography:Arden was born in 1884 at Woodbridge, Ontario,...
(founder of the eponymous cosmetics company) - Harold Prince (the BroadwayBroadway theatreBroadway theatre, commonly called simply Broadway, refers to theatrical performances presented in one of the 40 professional theatres with 500 or more seats located in the Theatre District centered along Broadway, and in Lincoln Center, in Manhattan in New York City...
producer) - Carroll Petrie (a philanthropist, widow of the founder of Petrie Stores)
- Alfred Taubman (shopping mallShopping mallA shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
developer, former chairman of Sothebys) - John DeLoreanJohn De LoreanJohn Zachary DeLorean was an American engineer and executive in the U.S. automobile industry, most notably with General Motors, and founder of the DeLorean Motor Company....
(former automotive magnate) - Joan Whitney PaysonJoan Whitney PaysonJoan Whitney Payson was an American heiress, businesswoman, philanthropist, patron of the arts and art collector, and a member of the prominent Whitney family...
(an heiress, and philanthropist) - Robert (Woody) Johnson IV (one of the heirs of the Johnson & JohnsonJohnson & JohnsonJohnson & Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500....
fortune, owner of the New York JetsNew York JetsThe New York Jets are a professional football team headquartered in Florham Park, New Jersey, representing the New York metropolitan area. The team is a member of the Eastern Division of the American Football Conference in the National Football League...
) - Simon Hodges (one of the heirs to Donald BrenDonald BrenDonald Bren is an American businessman who is Chairman of the Irvine Company, a US Based real estate developer, which he wholly owns.-Early Life and Education:...
's fortune and philanthropist) - Charles R. SchwabCharles R. SchwabCharles R. "Chuck" Schwab is the founder and chairman of the Charles Schwab Corporation.-Early life:Schwab was born in Sacramento, California. Despite having the same name, he is not related to Charles M. Schwab, the American steel magnate of the first half of the Twentieth Century...
(founder and CEO of the Charles Schwab Corporation) - Frank Jay GouldFrank Jay GouldFrank Jay Gould was a philanthropist and the son of financier Jay Gould. He was the owner of a string of French Riviera casinos and hotels.-Biography:...
- Casey JohnsonCasey JohnsonSale Trotter Case "Casey" Johnson was an American heiress, socialite and celebutante, as well as an occasional actress, model and author. She was one of the great-great-granddaughters of Robert Wood Johnson I .-Early life:Johnson was born in Florida...
(an heiress to the Johnson and Johnson fortune, well-known socialiteSocialiteA socialite is a person who participates in social activities and spends a significant amount of time entertaining and being entertained at fashionable upper-class events....
celebutante and daughter of Jets owner Woody Johnson)
Recent news
The co-op gained recent international fame when Rupert MurdochRupert Murdoch
Keith Rupert Murdoch, AC, KSG is an Australian-American business magnate. He is the founder and Chairman and CEO of , the world's second-largest media conglomerate....
paid $44 million for the apartment formerly owned by Laurance Rockefeller. At the time, this was the largest amount paid in New York City history for a cooperative apartment, and was a significant premium to the price paid for another famous apartment, the Rockefeller penthouse at 740 Park Avenue
740 Park Avenue
740 Park Avenue is a luxury apartment building on Park Avenue in Manhattan, which has been the home to many wealthy and famous residents. The building also carries the address 71 East 71st Street.-History:...
. That apartment sold for approximately $30 million (despite press reports claiming a $36 million price). The 834 Fifth Rockefeller apartment contained twenty rooms spread over 8000 sq ft (743.2 m²). of interior space and 4000 sq ft (371.6 m²) of terraces.
Apartments in the building rarely come to market, and typically command prices well over $3000 per square foot or $20 to $30 million.
Charles Schwab
Charles Schwab
Charles Schwab may refer to:*Charles M. Schwab , American steel magnate*Charles R. Schwab , founder of the eponymous brokerage*Charles Schwab Corp., an American based brokerage firm...
apparently spent approximately $25 mm for a ninth floor unit in the building, paying $11 mm over the initial asking price.
Peer buildings
Peer buildings in New York City with similar social prestige and architectural quality include 820 Fifth Avenue, 927 Fifth Avenue927 Fifth Avenue
927 Fifth Avenue is an upscale residential apartment building in Manhattan, New York City. It is located on Fifth Avenue at the corner of East 74th Street opposite the Model Sailboat Pond in Central Park...
, 960 Fifth Avenue, 998 Fifth Avenue, 720 Park Avenue, 740 Park Avenue
740 Park Avenue
740 Park Avenue is a luxury apartment building on Park Avenue in Manhattan, which has been the home to many wealthy and famous residents. The building also carries the address 71 East 71st Street.-History:...
and One Sutton Place
Sutton Place, Manhattan
Sutton Place is the name given to one of the most affluent streets in the borough of Manhattan in New York City, New York, United States, situated on the border between the Midtown and Upper East Side neighborhoods...
South. Other very prestigious apartment houses include 1040 Fifth Avenue
1040 Fifth Avenue
1040 Fifth Avenue is a luxury residential housing cooperative in Manhattan, New York City.Architecture critic Paul Goldberger describes 1040 Fifth Avenue as being one of "the great apartment houses of the 1920s."...
, 730 Park Avenue, 770 Park Avenue, 778 Park Avenue, River House, the Dakota
The Dakota
The Dakota, constructed from October 25, 1880 to October 27, 1884, is a co-op apartment building located on the northwest corner of 72nd Street and Central Park West in the Upper West Side of Manhattan in New York City...
, the San Remo
The San Remo
The San Remo is a luxury, 27-floor, co-operative apartment building in New York City located between 74th and 75th streets, about 1/10 of a mile north of the Dakota building The San Remo is described by Glen Justice of the New York Times as "a dazzling two-tower building with captivating views...
and the Beresford
The Beresford
The Beresford, at 211 Central Park West, between 81st and 82nd Streets, is an upscale, 23-floor apartment building in New York City. The architect, Emery Roth, was famous for building luxury apartments and hotels throughout the city...
.