A historic Fifth Avenue penthouse crowned by a spectacular gold dome has hit the market at $25 million, offering a rare opportunity to own one of Manhattan’s most distinctive residences.
The 5,777-square-foot property at 170 Fifth Avenue occupies the top two floors of the 1898 Beaux-Arts building, featuring five bedrooms, five bathrooms, and a stunning two-story octagonal cupola that has become an architectural landmark in its own right.
“There’s nothing of this kind in that price bracket,” says Sotheby’s listing agent Lawrence Treglia. Most comparable properties are found in modern developments, making this offering uniquely appealing to buyers seeking authentic New York character.
The penthouse’s sole owner since 2001, philanthropist Gregory C. Carr, who acquired the property for $7.5 million, has announced that proceeds from the sale will fund educational initiatives in Mozambique.
Historic Charm Meets Modern Luxury
Originally home to the Sohmer Piano Company, known for pioneering baby grand pianos in the 1880s, the building predates its famous neighbor, the Flatiron Building, by four years. Designed by renowned architect Robert Maynicke, whose portfolio includes several landmark Manhattan properties, the structure’s narrow 29-foot width and 120-foot length create uniquely proportioned living spaces.
The penthouse’s architectural highlights include:
- 360-degree city views from the gold-domed cupola
- A grand wrought-iron spiral staircase
- An open-concept kitchen with skylights
- Marble-finished bathrooms
- Private roof deck access
Investment Potential
The property’s asking price represents a significant premium over its 2001 sale, reflecting both extensive renovations and the area’s transformation into one of Manhattan’s most desirable neighborhoods. Its position adjacent to the iconic Flatiron Building adds significant landmark value to the investment.
“It’s really buying a true old New York piece of property,” notes Treglia, emphasizing the penthouse’s unique position in the luxury real estate market. The combination of historical significance, architectural distinction, and prime location makes this offering particularly noteworthy for collectors of prestigious Manhattan real estate.
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170 5th Avenue | Street Easy | Sotheby’s International Realty