What's Happening?
A duplex loft co-op located at 130 East 67th Street in the Upper East Side is on the market for $4.75 million. The property was the longtime home of renowned sculptor Joel Shapiro and his wife, artist
Ellen Phelan. Shapiro, known for his minimalist sculptures, passed away earlier this year. The couple had extensively renovated the pre-war apartment, enhancing it with features such as steel and beveled glass casement doors, a grand architectural staircase, and modern amenities like a five-zone central air system. The three-bedroom duplex is situated in a landmarked 1907 building and offers a blend of historical architecture and contemporary comforts.
Why It's Important?
The listing of this co-op highlights the intersection of art and real estate, showcasing how properties associated with notable figures can attract interest and potentially command higher prices. The renovations by Shapiro and Phelan reflect a trend where artistic and architectural enhancements can significantly increase a property's value. This sale may influence the market for similar high-end properties in New York City, particularly those with unique artistic or historical significance. It also underscores the ongoing demand for luxury real estate in Manhattan, despite broader economic fluctuations.
