Duplex at 740 Park Ave trades for $38M

An apartment in an Upper East Side co-op — dubbed New York City’s “richest building” — just traded for a rich premium.  A duplex at 740 Park Avenue sold in an off-market deal for $38 million, up from the $20.5 million the seller paid for it in 2019, according to public records. The identities of both the buyer and the seller are shielded by shell companies.  The price increase is likely due to a renovation, though the extent of the upgrade is unclear.  Construction work at the apartment was referenced in a 2019 lawsuit over an alleged injury caused by […] This article originally appeared on The Real Deal. Click here to read the full story.