• France's news in English

France wants $48 million for lavish New York flat

Joshua Melvin · 10 Apr 2014, 17:55

Published: 10 Apr 2014 17:55 GMT+02:00

Facebook Twitter Google+ reddit

France is having to make some tough calls to get its fiscal house in order and the decision to sell its United Nations ambassador’s residence at the edge of New York City’s Central Park must have been one of the toughest.

The 18-room luxury apartment, spread over two floors of 740 Park Avenue - known as the world’s richest apartment building - is on the market for a mere $48 million (€35 million), according to the Associated Press.

It's the most recent cost-cutting measure France has had to make as the country struggles with record unemployment and huge public deft.  Casualties of the belt-tightening drive thus far have included the presidential wine collection as well as the Republican Guard.

France has had the New York property since 1978, when the flat probably sold for quite a bit less. It is regularly used to host top officials at the for typicaly gourmet dinners. The place seems fit for a king.

It has six bedrooms, seven bathrooms and five fireplaces in the flat that also includes a large traditional kitchen, pantry, vast dining room and quarters for two servants.

Part of the cachet of the 1929 building is its long history of being home to big money.

It was the childhood home of Jacqueline Kennedy, whose grandfather built it, and has played host to fashion designer Vera Wang, industrialist David Koch, and numerous businessmen, notably from early American business giant Standard Oil.

If the eventual buyers pay full price and decide they’d better take out a mortgage, instead of paying in cash, the monthly payments are going to be whopping.

According to a payments estimator on StreetEasy real estate website, the payments will run at $224,400 per month.

Are you interested?


Joshua Melvin (joshua.melvin@thelocal.com)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Calais migrants given mixed reception in French towns
Photo: AFP

Some in France have shown solidarity with their new guests, while others have made it clear they are not welcome.

Lonely Planet says Bordeaux is world's best city to visit
The fantastic new Bordeaux wine museum. Photo: AFP

After The Local France, the Lonely Planet has followed suit by urging everyone to head to Bordeaux in 2017.

Jungle shacks set ablaze and torn down as camp razed
All photos: AFP

IN PICTURES: The razing of the Jungle has finally begun.

Frenchwoman finds WW1 grenade among her spuds
Photo: AFP

It could have been a very explosive family dinner.

Refugee crisis
What rights to a future in France for Calais migrants?
Photo: AFP

What does the future hold for the migrants of the Jungle? Can they work or claim social benefits or travel freely inside Europe?

Pampers nappies 'contain carcinogenics': French study
Photo: Robert Valencia/Flick

The substances in the nappies are meant to prevent skin irritation but are cancerous, the study concludes.

France to scrap special prison wings for dangerous jihadists
Photo: AFP

The experiment has been ditched.

Myth busting: Half of French adults are now overweight
A model at the Pulp Fiction fashion show in Paris that represents society's diverse spectrum . Photo: AFP

Hold on, aren't the French all meant to be finely toned specimens with not an ounce of fat on them?

France poised to send bulldozers into Calais Jungle
Photo: AFP

As hundreds of migrants leave, the bulldozers are set to tear down the sprawling Calais shanty town on Tuesday.

UK to spend €40 million on securing Calais border
Photo: AFP

Britain spending big on security in Calais.

The annoying questions only a half French, half Brit can answer
Sponsored Article
Last chance to vote absentee in the US elections
Forget Brangelina's chateau - here are nine others you've got to see
The must-see French films of the millennium - Part One
How life for expats in France has changed over the years
Why Toulouse is THE place to be in France right now
Video: New homage to Paris shows the 'real side' of city
The 'most dangerous' animals you can find in France
Swap London fogs for Paris frogs: France woos the Brits
Anger after presenter kisses woman's breasts on live TV
Is France finally set for a cold winter this year?
IN PICS: The story of the 'ghost Metro stations' of Paris
How to make France's 'most-loved' dish: Magret de Canard
Welcome to the flipside: 'I'm not living the dream in France'
Do the French really still eat frogs' legs?
French 'delicacies' foreigners really find hard to stomach
French are the 'world's most pessimistic' about the future
Why the French should not be gloomy about the future
This is the most useful French lesson you will ever have. How to get angry
Why is there a giant clitoris in a field in southern France?
French pastry wars: Pain au chocolat versus chocolatine
Countdown: The ten dishes the French love the most
Expats or immigrants in France: Is there a difference?
How the French reinvented dozens of English words
jobs available