What is the story about?
What's Happening?
A dramatic duplex co-op located at 322 East 57th Street in Sutton Place, Manhattan, is on the market for $5,495,000. The three-bedroom home, designed by Harry M. Clawson in 1929, features neo-classical architecture with double-height living rooms and abundant natural light. The building, originally conceived for artists, has housed notable residents such as filmmaker Orson Welles and Senator Jacob Javits. The available apartment spans the 12th and 13th floors, offering over 3,100 square feet of living space. It includes a grand living room with 18-foot ceilings, a round dining room, and a family room with a fireplace. The primary suite boasts southern exposure and a large en-suite bath.
Why It's Important?
The listing of this Sutton Place duplex highlights the enduring appeal of Manhattan's pre-war architecture and the luxury real estate market. Properties like this attract affluent buyers seeking unique historical residences with modern amenities. The sale of such high-value homes can influence local real estate trends, potentially increasing property values in the area. Additionally, the building's history and notable former residents add cultural significance, appealing to buyers interested in the legacy and prestige associated with such properties.
What's Next?
Potential buyers will likely be drawn to the property's unique architectural features and historical significance. The real estate market in Manhattan may see increased interest in similar pre-war buildings, prompting further renovations and listings. Real estate agents and developers might focus on marketing the cultural and historical aspects of these properties to attract high-net-worth individuals. The sale of this duplex could set a precedent for future listings in the area, influencing pricing strategies and buyer expectations.
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