A few years ago, Hamburg Tang had had enough of the noisy renovation at 740 Park Avenue. Now, Tang has had enough of the co-op altogether.
The retired semiconductor executive listed his duplex at the ritzy building for $26 million. The five-bedroom duplex is unit No. 10/11C. The unit includes four bedrooms, five bathrooms, two half-bathrooms, a paneled library with a fireplace and a lengthy living room.
The Corcoran Group’s Francine Crocker has the listing.
Tang was previously involved in a battle at the Upper East Side building with fellow billionaire Howard Marks. The Alloys Unlimited founder sued his neighbor and the co-op board over noisy renovations to Marks’ unit, a duplex directly above Tang and his wife’s home.
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After Marks bought his unit in 2012 for $52.5 million, he started a lengthy demolition and renovation. Tang accused Marks of skirting the building’s rules about what hours work can occur and blamed the co-op board for not enforcing them.
Tang ultimately persuaded a judge to limit the amount of time per day Marks could renovate.
The prewar building has been the home of some notable figures, including such boldface names as Rockefeller, Koch and Kennedy Onassis. It’s also been the site of some aspirational pricing by shareholders.
A unit belonging to former Treasury Secretary Steven Mnuchin endured years of price chops before finding a buyer. Ex-Merrill Lynch CEO John Thain has priced his co-op at what would be a small loss after being unable to sell it for four years. Real estate developer William Zeckendorf sold his unit in 2019 for a modest gain.
David Koch’s widow, Julia Koch, is another prominent figure looking to sell at 740 Park. She’s been shopping her 18-room unit for $60 million since earlier this year as she reportedly looks to spend more time in Southampton and Palm Beach.
— Holden Walter-Warner