Wildenstein & Company Building

19 East 64th Street

The Wildenstein & Company Building is an edifice that stands at 19 East 64th Street, near Madison Avenue on Manhattan, New York City's Upper East Side. It is five stories tall and was completed in early 1932. The building was designed in French 18th-century style by Philadelphia, Pennsylvania architect Horace Trumbauer.[1] Its facade is made of limestone. It replaced a townhouse built for Seth Low at the end of the nineteenth-century.[2]

The Wildenstein art firm was located in the former Vanderbilt house at 647 Fifth Avenue, between 51st and 52nd Streets, for several years prior to the structure's completion.[1] The Charles F. Noyes Company arranged a five-year extension of a $545,000 mortgage at 5% in June 1932.[3]

In October 1993, Wildenstein & Company purchased 49% of the Pace Gallery. The deal combined a 118-year-old gallery which specialized in Old Master and Impressionist paintings with a 32-year-old gallery which was renowned for its contemporary art and modern art. The Wildenstein gallery remained at the Wildenstein Building. Pace's SoHo branch at 142 Greene Street also became part of the combined business.[4] In April 2010, the combined gallery announced it was splitting, and Pace bought out Wildenstein's 49%.[5]

In 1997 the house had up to 11 members of the Wildenstein family living in it at any one time, leading art dealer Harry Brooks to call humorously call the house the "most expensive tenement in Manhattan".[6] The Government of Qatar planned to buy the house for $90 million in 2014 and operate it as a consulate. The Russian businessman Len Blavatnik sued David Wildenstein, believing that the Wildenstein family had reneged on a promise to sell Blavatnik the property for $79 million. A judge rejected the suit in court in March 2017 stating that the verbal agreement was not legally binding.[7]

In April 2017 it became the most expensive townhouse ever sold in Manhattan when it sold for $79.5 million.[7]

References

  1. 1 2 "New Bank Offices On Madison Avenue". New York Times. March 6, 1932. p. RE2.
  2. ↑ "Wreckers Demolish Old Seth Low Home". New York Times. November 6, 1932. p. RE11.
  3. ↑ "Realty Financing". New York Times. June 3, 1932. p. 38.
  4. ↑ "Two Top Manhattan Galleries Merge". New York Times. October 29, 1993. p. C25.
  5. ↑ Vogel, Carol (April 1, 2010). "Powerhouse Gallery Is Splitting Apart". The New York Times. Retrieved January 1, 2011.
  6. ↑ New York Media, LLC (15 December 1997). New York Magazine. New York Media, LLC. p. 32. ISSN 0028-7369.
  7. 1 2 "Wildenstein mansion sets new NYC townhouse record with $79.5M sale". The Real Deal. Retrieved 11 April 2017.

Coordinates: 40°46.02′0″N 73°58.164′0″W / 40.76700°N 73.96940°W / 40.76700; -73.96940

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.