Paul Newman’s Former Fifth Avenue Co-op Sells for $14 Million in Bidding War
A legendary Fifth Avenue co-op, once home to Hollywood icons Paul Newman and Joanne Woodward, has been sold for approximately $14 million – a remarkable 40% above its initial $9,950,000 listing price following a competitive bidding process. The sale, first reported by the Wall Street Journal in December, underscores the enduring allure of prime Manhattan real estate and the lasting legacy of the celebrated actors.
A Star-Studded History
The classic six-room residence attracted significant interest, with over 50 prospective buyers touring the property and generating nearly a dozen offers. While one bid exceeded $14 million, the Newman family ultimately declined it, as the intended use – a pied-à-terre – was unlikely to gain approval from the co-op board. This highlights the stringent requirements often associated with prestigious Manhattan co-ops.
Architectural Grandeur and Luxurious Amenities
Designed by J.E.R. Carpenter in 1925, the building boasts an air of timeless elegance. The expansive residence itself is distinguished by nearly 2,000 square feet of private terrace space, offering breathtaking views. Access is granted via a private elevator, opening into a grand foyer that leads to a sun-filled great room. This central living and entertainment area features a wood-burning fireplace and a built-in bar, creating an inviting atmosphere for both intimate gatherings and larger events.
The property’s design seamlessly blends pre-war architecture with modern luxury. Central Park views are a prominent feature, enhanced by tall glass doors that open onto the sprawling terrace. A spacious eat-in kitchen, complete with a windowed butler’s pantry, also provides convenient access to outdoor dining. Additional amenities include a formal dining room, a staff room, and a laundry room, catering to both everyday living and sophisticated entertaining.
Inside the Residence
The primary suite is a haven of comfort and privacy, featuring two oversized walk-in closets and a private wrap-around terrace offering city views from three exposures. Adjacent to the foyer, a second bedroom offers flexibility, potentially serving as a central library or guest room.
Newman originally purchased the property in the 1980s, transforming it into a cherished pied-à-terre for himself and Woodward. According to the New York Post, the couple reconfigured the original two-bedroom layout into a more spacious one-bedroom design. Newman passed away in 2008 at the age of 83, while Woodward, now 95, currently resides in Connecticut.
A Gathering Place for Icons
The terraces of the residence were once the setting for glamorous cocktail and dinner parties, hosting a constellation of stars. Clea Newman Soderlund, the couple’s youngest daughter, shared with the New York Times in December that guests included Tom Cruise, Cher, and even Presidents Barack Obama and Bill Clinton. This anecdote underscores the property’s historical significance and its place within the cultural landscape of New York City.
The full-service, pet-friendly co-op offers a 24-hour doorman, a live-in resident manager, a fitness center, and a bike room, providing residents with a comprehensive suite of amenities and services.
The buyers, a finance couple represented by Douglas Elliman agents Noble Black and Jennifer Stillman, have chosen to remain anonymous.
[Listing details: 1120 Fifth Avenue, PHB at CityRealty]
[At Douglas Elliman by Noble Black and Jennifer Stillman]
