This $49 Million Mansion Is One of NYC's Last Gilded Age Treasures
What does almost $50 million buy you on Fifth Avenue these days? If you're lucky, one of the last remaining Stanford White-designed mansions in Manhattan. 973 Fifth Avenue has just hit the market for $49.9 million—a relative bargain, considering its previous ask of $72.5 million in 2023.
For the uninitiated, Stanford White was the architect of America’s Gilded Age elite. As a partner in the legendary firm McKim, Mead & White, he shaped the face of New York City with works like the Washington Square Arch and the original Madison Square Garden. White's career, marked by architectural brilliance and society scandal, came to an end in 1906 when he was murdered on the roof Madison Square Garden by a jealous husband in what newspapers dubbed "The Trial of the Century."
973 Fifth Avenue is one of only two Stanford White-designed Manhattan townhouses that remain as single-family residences today. While White's architectural legacy in New York City includes eight surviving townhouses in total, most have been converted for commercial use, like 12 W. 56th Street, now housing stores and offices, and 457 Madison Avenue, which serves as a mixed-use commercial building. Beyond these, White's residential portfolio extended to the 32 houses on Striver's Row in Harlem and a pair of homes at 18 and 19 St. Austin's Place on Staten Island.
Commanding 25-feet of Fifth Avenue frontage directly across from Central Park, this 16,000-square-foot Italian Renaissance palazzo-style mansion sits in the exclusive Cook Block, where zoning restrictions ensure no building can exceed six stories (a precious guarantee of light and privacy in today's ever-rising Manhattan). The home was built over a three-year period, between 1902 and 1905.
The current owner, who acquired the property for $42 million in 2012, spared no expense in bringing this 1905 masterpiece into the 21st-century while meticulously preserving its Gilded Age soul. Double parlors showcase soaring 16-foot ceilings adorned with painted wood beams, and original French stained-glass windows filter sunlight onto hand-carved marble fireplaces. The grand limestone staircase, with its original wrought-iron railing, sweeps through all seven levels like a sculpture.
The renovation seamlessly integrated contemporary amenities throughout the 11-bedroom home. The kitchen includes five distinct cooking spaces, including a stunning new morning room with a Carrara marble waterfall island and a main chef's kitchen equipped with restaurant-grade Wolf, Sub-Zero, and Hobart appliances. The full-scale catering kitchen features live CCTV to the dining rooms, and a dedicated scullery and butler's pantry includes a dumbwaiter servicing each entertaining level. The mansion also features a climate-controlled wine cellar, a Venetian plaster hammam steam room, a silver and jewelry vault, and a spectacular rooftop terrace offering 360-degree views of Manhattan's skyline and Central Park. Nine fully restored wood-burning fireplaces and state-of-the-art systems for climate control and water purification complete the picture.
The main bedrooms feature expansive dressing areas and en-suite baths outfitted with P.E. Guerin and Barber Wilson & Co. fixtures, custom-designed marble soaking tubs, and showers. There are 7 full baths and 3 powder rooms, with additional amenities like extra-large cedar closets and a dedicated linen room. A dedicated sixth level serves as guest and staff quarters, complete with multiple bedrooms, a private kitchen, and an internal staircase.
The mansion also features a rare private courtyard with a separate rear entrance from East 79th Street, offering discreet service access for deliveries. For those considering alternative uses, the property's zoning allows for several possibilities beyond private residential use, including potential conversion to an embassy, non-profit foundation offices (limited to 50 employees), or a non-commercial art gallery.
The property is listed by Carrie Chiang, Andres Perea-Garzon, and Lesley Schulhof of the Corcoran Group and has seen various price adjustments since its initial 2023 listing at $72.5 million, dropping to $65 million, then $58 million, before arriving at its current ask. The latest adjustment reflects what Perea-Garzon of Corcoran calls a market "correction," but in a city where new penthouses routinely ask nine figures, this fully restored piece of architectural history—with Central Park views, no less—might just be the deal of the century. Well, this century, at least.
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