Koch Sells 1040 Fifth Avenue
David H. Koch, number 33 on Forbes Magazine's list of the world's billionaires, is selling up to accommodate his growing family and putting his 1040 Fifth Avenue apartment on the market. The apartment occupies the entire 15th floor of the building and was once owned by Jacqueline Kennedy Onassis. Koch purchased it in 1995 for $9.5-million and spent and estimated $5-10 million on renovations. He and his wife felt they needed a larger space to raise what will be their third child, though the apartment at 1040 Fifth has four bedrooms, two dressing rooms, a staff room, a library, living room, dining room, conservatory, two terraces, three fireplaces, five and a half bathrooms and a wine room. The family is moving to 740 Park, which Koch says is a duplex twice the size of the Onassis apartment. The asking price is $32 million.