A Fifth Avenue maisonette once owned by Hollywood legends Paul Newman and Joanne Woodward is back on the market for $1.69 million after the building's co-op board unexpectedly rejected a previously accepted offer. The property, which served as the couple's private office and guest suite, had attracted significant interest, including multiple bids above its asking price.
The two-bedroom, 1.5-bathroom residence at 1120 Fifth Avenue went into contract on December 5, but the deal was terminated when the board did not approve the prospective buyer. The apartment was relisted this week, with the brokers setting a new deadline of March 3 for all offers in anticipation of another competitive bidding round.
Key Takeaways
- Paul Newman and Joanne Woodward's former NYC office and guest suite is for sale again at $1.69 million.
- A previous deal, which was reportedly well over the asking price, was blocked by the building's co-op board.
- The brokers have established a new offer deadline of March 3 to manage expected high demand.
- The apartment retains much of the couple's original furniture and personal effects, offering a glimpse into their lives.
A Second Chance for Buyers
The decision to relist the historic property has created a new opportunity for buyers who missed out during the initial offering. The apartment, located in a prestigious pre-war building in Carnegie Hill, attracted a flurry of attention when it first became available, resulting in a swift bidding war.
Noble Black of the Corcoran Group, who is handling the sale, confirmed the high level of interest. Some offers were so significantly above the list price that they required verification.
"Several offers came in meaningfully above the asking price, and one was high enough that we felt we needed to reach out to the broker to confirm there wasn’t a typo," said Black.
The co-op board's rejection of the winning bidder is an unusual turn of events in Manhattan's competitive real estate market. Boards are known for their stringent approval processes, but outright denials after a contract is signed are uncommon. The reason for the rejection has not been made public.
To ensure a fair and organized process this time around, a two-week window for new bids has been established. "The decision was made to allow everyone adequate time to view or revisit the property and reassess their strongest position," Black explained. This approach gives previous bidders and new interested parties an equal chance to compete for the storied residence.
Inside a Piece of Hollywood History
For decades, this maisonette served as a functional annex to Newman and Woodward's primary residence, a penthouse in the same building. The couple, who owned the space since the early 1980s, used it as a working office and a private retreat for guests. It remains a time capsule of their life in New York.
Unlike the penthouse, which was sold in 2024 and likely renovated by its new owners, the maisonette has been largely preserved. It still contains much of the couple's furniture, artwork, and personal mementos. This offers potential buyers a unique connection to the Oscar-winning pair.
Property at a Glance
- Address: 1120 Fifth Ave., Carnegie Hill, Manhattan
- Price: $1,690,000
- Size: Two bedrooms, 1.5 bathrooms
- Building: A 1925 cooperative designed by architect J.E.R. Carpenter
- Features: Central Park views, pre-war details, lobby-level entrance
Architectural Merits and Provenance
While the celebrity connection is a significant draw, the property's intrinsic qualities are also a major factor for serious buyers. The apartment is located in a building designed by J.E.R. Carpenter, a renowned architect responsible for many of Fifth and Park Avenues' most distinguished residential buildings.
The layout includes a formal entry foyer that opens into a combined living and dining area with classic pre-war details and views toward Central Park. A separate wing houses the two bedrooms and a full bathroom, providing a clear separation between public and private spaces.
Black noted that the apartment has "incredible ‘bones’," pointing to its generous proportions and oversized windows. He also highlighted its unique position within the building.
"Although very different from the Newmans’ penthouse, the maisonette shares some important attributes- namely an amazing provenance and incredible ‘bones’," Black said. He described the lobby-level apartment as feeling "more akin to a second floor than a maisonette" due to its elevated position above street level.
A Rare Opportunity on Fifth Avenue
The sale represents one of the last opportunities to own a piece of real estate directly tied to Paul Newman, who passed away in 2008, and Joanne Woodward, now 95. Their longtime penthouse in the building sold for $14 million in 2024, far exceeding its $9.95 million asking price and demonstrating the powerful allure of the couple's legacy.
The Power of Celebrity Real Estate
Properties with a history of famous ownership often command a premium in the market. This "provenance value" is driven by the public's fascination with celebrity lifestyles and the desire to own a tangible piece of history. In New York City, apartments once owned by figures like Marilyn Monroe, John Lennon, or Jacqueline Kennedy Onassis have historically attracted intense interest and high sale prices.
The brokers believe that while the Newman and Woodward connection initially attracts attention, it is the apartment's fundamental qualities that motivate serious offers. The combination of a prime Fifth Avenue location, classic architecture, and the scarcity of such properties makes it a compelling asset.
As the March 3 deadline approaches, the real estate world will be watching to see if this slice of Old Hollywood history finds a new owner, and whether the co-op board will approve the next chapter for this iconic space.
