Former managing director at Morgan Stanley Charles G. Phillips and his wife Candace are selling their penthouse for $US40 million, according to the New York Times.
Their children are now grown, so they don’t need the huge amount of space the Park Avenue triplex offers.
The apartment was built in the 1920s by famous Italian-American architect Rosario Candela, and his influence still radiates through the apartment.
Welcome to 775 Park Avenue, smack dab in the heart of New York City's Upper East Side and a mere two blocks from Central Park.
The house is part of a building designed by famous turn-of-the-century architect Rosario Candela. It's considered one of his great works, and the apartment has been carefully restored with his original work in mind.
The apartment was designed by Candela with entertaining in mind, and the dining room is big enough to host a dinner banquet-style.
One of the apartment's eight fireplaces is nestled in the cozy wood-paneled library, with windows that overlook Park Avenue.
The hallways and rooms are full of 20th century touches and design, like the original wrought-iron stairway banister and the carved doorway trim and moulding.
The late 1920 apartment also has space that was originally designed to be used for staff quarters, but the current owners converted it into a gym and home office.
A terrace is accessible on the third floor of the penthouse, with planters and a gorgeous view of the surrounding city.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.