740 Park

Of all Manhattan's fabled East Side dwellings of the super-rich, 740 Park Avenue has perhaps the best pedigree. Designed by Rosario Candela and developed by James T. Lee, Jackie O's maternal grandfather, as a cooperative haven for the elite, it had the misfortune to open just as the stock market crashed in 1930 and was forced to operate partly as a rental for some decades. The last sale was to Lee himself, for son-in-law "Black Jack" Bouvier, his wife and daughters Jackie and Lee. John D. Rockefeller Jr. signed a rental lease in 1936 for a massive apartment (more than 20,000 square feet), and Marshall Field III took another. Gross (Model) has solidly researched the denizens of the building, who they were, what they did, and who and how many times they married. This information, while exhaustive, is also exhausting. Things perk up as we approach the modern era, and the old rich give way to a newer cast of sometimes dubious billionaires. Ron Perelman, Henry Kravis, Steve Ross and Steve Schwartzman are cited among the newer tenants. A bit of a bore for average readers, this will be a useful tome for those interested in New York's social history.

Zusatztext In 740 Park , Michael Gross penetrates the bewitching and private worlds of the privileged and very rich denizens of 740 Park Avenue on New York's Upper East Side. Gross, a born storyteller, delights in his tales of upstairs and downstairs over the decades in the grand building. This is social history at its best. Dominick Dunne 740 Park is a concrete capsule of American capitalism as seen through the fates, fortunes, and foibles of its inhabitants. This biography of New York's most magisterial building is an immensely entertaining, dishy, and ultimately serious book. Jane Stanton Hitchcock The Lolita of shelter porn . . . 740 Park delves into the rarified world of one of the city's most exclusive co-ops, where billionaires like Ronald Lauder, Steve Schwarzman, and David Koch rest their heads. Michael Calderone, New York Observer "Jaw-dropping apartment porn." Fortune "Gobs of real-estate porn." The New York Times Book Review "[A] great read . . . gossipy . . . revealing." People "As rich as his subjects." Forbes FYI "Life after folly-filled life flashes forward like Park Avenue canopies viewed from a speeding town car." The New York Times Finally! A look inside the golden tabernacle of high society. Kitty Kelley Informationen zum Autor Michael Gross Klappentext At its core! this book is a social history of the American rich! and how the locus of power and influence has shifted haltingly from old bloodlines to new money. It's also filled with meaty! startling! and often tragic stories of the people who lived behind 740Us walls. 1 At the end of the Roaring Twenties, small conspiracies of the powerful--many of them members of high society--formed investment pools to manipulate stock prices. Among them was Albert Wiggin, the chairman of the Chase National Bank. In 1927, business was booming when President Calvin Coolidge declared that America was "entering upon a new era of prosperity." That March, pool operations peaked, as did Cadillac sales in New York City. In May, trading volume hit a new high. Brokers' loans to speculators shot up to $4.4 billion at interest rates of between 10 and 12 percent. Then, on June 13, 1928, the stock market collapsed. It quickly recovered, but the plunge was a sign--one that few people read. The market cratered again on March 26, 1929, sending interest rates on loans to speculators soaring to 20 percent. But loans were still being made; it seemed that nothing could end the mad speculation. The Federal Reserve Board urged bankers to stop handing out money. Immediately, one bank announced a fresh $20 million available for loans--and the stock market recovered again. "In such circumstances, one might have expected bankers, at least the most important, prestige-laden, and supposedly conservative among them, to lie low, to accept quietly the profits that flowed to them so effortlessly," John Brooks wrote in Once in Golconda , his classic tale of Wall Street's ruination. Instead, men like Wiggin were anything but circumspect. Through holding companies formed to conceal trades and minimize taxes, he played the market, frolicked in pools, and even speculated in Chase stock to the tune of millions of dollars. Only in the summer of 1929 did he start to worry. Though the economy was showing signs of weakness, the stock market was still soaring, volume hitting records, new fortunes being made. On September 3, the market's averages hit all-time highs--highs that would stand for the next twenty-five years. Though he kept touting Chase stock, Wiggin also started selling it short--borrowing forty-two thousand shares and selling them, expecting to buy them back later f...

“In 740 Park, Michael Gross penetrates the bewitching and private worlds of the privileged and very rich denizens of 740 Park Avenue on New York’s Upper East Side. Gross, a born storyteller, delights in his tales of upstairs and downstairs over the decades in the grand building. This is social history at its best.”—Dominick Dunne

“740 Park is a concrete capsule of American capitalism as seen through the fates, fortunes, and foibles of its inhabitants. This biography of New York’s most magisterial building is an immensely entertaining, dishy, and ultimately serious book.”—Jane Stanton Hitchcock

“The Lolita of shelter porn . . . 740 Park delves into the rarified world of one of the city’s most exclusive co-ops, where billionaires like Ronald Lauder, Steve Schwarzman, and David Koch rest their heads.”—Michael Calderone, New York Observer

"Jaw-dropping apartment porn."—Fortune

"Gobs of real-estate porn."—The New York Times Book Review

"[A] great read . . . gossipy . . . revealing."—People

"As rich as his subjects."—Forbes FYI

"Life after folly-filled life flashes forward like Park Avenue canopies viewed from a speeding town car."—The New York Times

“Finally! A look inside the golden tabernacle of high society.”—Kitty Kelley

Autorentext
Michael Gross

Klappentext
At its core, this book is a social history of the American rich, and how the locus of power and influence has shifted haltingly from old bloodlines to new money. It's also filled with meaty, startling, and often tragic stories of the people who lived behind 740Us walls.

Zusammenfassung
From the author of House of Outrageous Fortune

For seventy-five years, it’s been Manhattan’s richest apartment building, and one of the most lusted-after addresses in the world. One apartment had 37 rooms, 14 bathrooms, 43 closets, 11 working fireplaces, a private elevator, and his-and-hers saunas; another at one time had a live-in service staff of 16. To this day, it is steeped in the purest luxury, the kind most of us could only imagine, until now.

The last great building to go up along New York’s Gold Coast, construction on 740 Park finished in 1930. Since then, 740 has been home to an ever-evolving cadre of our wealthiest and most powerful families, some of America’s (and the world’s) oldest money—the kind attached to names like Vanderbilt, Rockefeller, Bouvier, Chrysler, Niarchos, Houghton, and Harkness—and some whose names evoke the excesses of today’s monied elite: Kravis, Koch, Bronfman, Perelman, Steinberg, and Schwarzman. All along, the building has housed titans of industry, political power brokers, internation…

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