Live

Watch CBSN Live

Nelson Rockefeller Residence For Sale in New York

Nelson Rockefeller, grandson of the famous John D. Rockefeller, was no stranger to luxury and privilege: The family name is synonymous with wealth in the U.S. The younger Rockefeller had an influence on both New York and the entire nation, serving as both Vice President and New York State governor.

With all that money and power, it's no surprise Rockefeller amassed his own impressive real estate portfolio. One of those properties, 810 Fifth Avenue, just went on the market for a staggering $27.5 million dollars. To put it in perspective, that's a monthly mortgage payment of over $100,000 with a 30-year fixed and a 20 percent â€" or $5.5 million â€" down payment.

According to Zillow's real estate blog, the Nelson Rockefeller Residence occupies a large segment of the 12th floor and offers magnificent views of Central Park.

Kirk Henckels, Executive Vice President of Stribling, the listing brokerage, says the place was even bigger when Rockefeller and his first wife lived there together.
"When Vice President Rockefeller was married to his first wife, Mary, they owned the top three floors of 810 Fifth Avenue. After they divorced, the Vice President kept the bottom floor for himself and gave the top two floors to his ex-wife. He then purchased an apartment on an adjacent floor in the building next door, 812 Fifth Avenue, and broke through to his apartment at 810 Fifth Avenue, thereby joining the two buildings."

After Rockefeller's death, his second wife separated the two apartments and kept 812 Fifth Avenue as her residence. She sold the one at 810 Fifth Avenue to the current sellers, so this property isn't too far removed from Rockefeller himself.

The floor plan is impressive: A 47-foot-long living room with two fireplaces, formal dining room and a library with a full bath. There's also a massive two-bedroom master suite with a dressing room and oversized master bath, double sized "staff bedroom" with its own bathroom and a large family room off the kitchen.

Despite the huge $27.5 million dollar price tag, the Nelson Rockefeller Residence is currently configured with only two bedrooms. The listing says two additional bedrooms were removed to create the large entertaining space and could be added back into the floor plan; at that price, I hope the construction costs are included.

What do you think - is Nelson Rockefeller's New York Residence worth the $27.5 million price tag?
More on MoneyWatch:








Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.comand The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
View CBS News In
CBS News App Open
Chrome Safari Continue