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After being appointed global head of fixed income sales at Morgan Stanley, Stefano Corsi relocated to New York in 2003. The job required him to move from London with his wife Monica, a clinical psychologist, and their two young children.<\/p>\n
\u201cWe\u2019d been living in London in a Grade II house [historic home] with a lot of floors and a lot of space, and so we were looking for a similar place\u2014discreet and neighborly,\u201d Corsi says.<\/p>\n
A 3,670-square-foot, floor-through apartment on the 14th floor of 988 Fifth Avenue, where East 80th Street meets Central Park, fit the bill. The 1925 building, designed by the luxury high-rise architect J.E.R. Carpenter, is a rare Fifth Avenue condominium\u2014co-ops are far more plentiful\u2014and is said to be the last place Grace Kelly lived before marrying Prince Rainier of Monaco.<\/p>\n
The couple paid about $9 million for the four-bedroom unit and immediately embarked on a roughly $2.5 million, year-and-a-half-long renovation, where \u201cthe only thing that was left standing were the outer walls,\u201d Corsi says.<\/p>\n
At the time, Corsi\u2019s job was all-consuming. He\u2019d been with the firm since 1987 and, until he retired in 2007 (\u201ca short run,\u201d he says drily), he wasn\u2019t able to spend much time in the apartment. \u201cI think my family and kids enjoyed it more than I did.\u201d<\/p>\n
But upon his retirement\u2014Corsi describes himself as a \u201cprivate investor\u201d\u2014he was delighted to discover that the house is as lovely during the day as it is at night. \u201cThe house has 360-degree views,\u201d he says. \u201cSo the sunsets are just as incredible as the dawn.\u201d<\/p>\n
After about 15 years in the apartment, Corsi has decided to sell, listing it for $28.5 million with Compass agents Dan Kessler and Byron Anderson.<\/p>\n
His children are out of the house, and his life is increasingly anchored across the Atlantic. \u201cWe spend a lot of time in Spain, Italy, and Switzerland,\u201d he explains. \u201cLife is gently gravitating, if you will, towards Europe.\u201d
\nEntertaining 100 People<\/p>\n
By gutting the apartment, Corsi was able to dictate a layout that fit his and his family\u2019s needs for large public spaces and more intimate private areas. He hired architect Alexander Antonelli to realize the project. \u201cWe knew what we wanted,\u201d Corsi says. \u201cI guess the term would be an updated, classic style. There are a lot of modern features, but the feel\u2014and the finishes\u2014are very classic.\u201d<\/p>\n
The apartment overlooks Central Park and the Metropolitan Museum of Art. \u201cWe opened them up a little bit, and we didn\u2019t put drapes on them, so you can have uninterrupted views,\u201d Corsi says. \u201cThat was the first goal: to let Central Park into the house.\u201d<\/p>\n
The formal entertaining rooms\u2014the dining room, the reception hall, and the living room\u2014look right onto the park. \u201cThe idea was to create an open flow of public rooms, supported by a modern kitchen and breakfast room,\u201d where the family would eat in less formal settings.<\/p>\n
When they entertained, for work or social purposes, the house could \u201ceasily fit 100 people,\u201d Corsi says. \u201cWe fit that many a few times. It was really all about having a formal space with a lot of open territory.\u201d<\/p>\n
(\u201cBut listen to me,\u201d Corsi adds in an aside, \u201cI\u2019m talking like I did everything, but it was really my wife Monica. She was the genius, and she did all the work.\u201d)<\/p>\n
There\u2019s also a small library, where Corsi says he spends most of his time, most often accompanied by the family\u2019s teacup poodle. \u201cWe retire there to ponder life.\u201d
\nStanding Out<\/p>\n
Corsi acknowledges that this isn\u2019t a boom time for super high-end Manhattan real estate.<\/p>\n
\u201cLook, I\u2019m a finance person by training, and in my day-to-day,\u201d he says. \u201cI\u2019m aware of the market.\u201d<\/p>\n
But, he says, the best properties will always find a buyer. \u201cThere are pockets of interest, even in soft markets. There are some assets, properties, experiences that stand out.\u201d<\/p>\n
His apartment, he says, is in one of just two prewar condominiums on Fifth Avenue. \u201cNot 20\u2014two. I\u2019m used to understanding rarity, and this is a truly unique place.\u201d<\/p>\n
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