The Market

Mad Men's Don Draper Should Sell That Penthouse ASAP

By BrickUnderground | April 14, 2015 - 1:30PM 

Last Sunday's Mad Men episode wasn't one of our favorites — too much Megan — but one detail did catch us: Don Draper saying he was going to sell his apartment now that he and his second wife are officially finished. How much could he get for a Park Avenue penthouse in 1970?

According to a March 1970 New York Times article, the most expensive apartments — Don's presumably would be on par with those —at the Imperial House on East 69th Street between Lexington Avenue and Third Avenue, a rental building going co-op, were going for $191,000 cash at the time. A story in the August 14, 1972 issue of New York Magazine about 733 Park on 71st Street says in 1969, the penthouse in the building was asking $526,500. But by late 1970, "many $300,000 apartments in early 1969 were $150,000 apartments."

Our advice to Don: Sell now, before the market flatlines.  Besides, how many times do you need to run into your ex-mistress and her husband in the elevator before it's too uncomfortable to live there?

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