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Candela-Designed Triplex Park Avenue Penthouse Wants $40M

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For the first time in 26 years, the triplex penthouse at 775 Park Avenue needs a new owner. Designed by Rosario Candela, the building is known as one of the architect's greatest works, and its pinnacle was designed with "the intention of creating a large and distinctive space," according to the brokerbabble. That translates to 6,300 square feet, with six bedrooms, eight wood-burning fireplaces, a wood-paneled library, two terraces, and a 32-foot-long living room. Why sell something this grand? It's a bit much for two people. The owners, investment banking bigwig Charles G. Phillips, his wife, Candace, told the Times that they are downsizing, now that their children are grown. The asking price is a cool $40 million.

When the Phillipses bought the unit in 1989, some of Candela's original work had been covered up, so they embarked on "an excavation project" that revealed that most of Candela's work had been preserved, like the 1920s banister along the interior staircase. They also recreated " a plaster molding in the foyer that incorporates a favorite Candela motif embellished with gold leaf that was applied by hand," and rebuilt the terraces with materials Candela would have likely used.
· Listing: 775 Park Avenue, #12C [Sotheby's International Realty via StreetEasy]
· Park Avenue Penthouse in a Rosario Candela Building [NYT]