Introduction to Leonard Riggio’s NYC Co-op
The bookshelf-lined Manhattan home of Leonard Riggio, the late founder of Barnes & Noble, is on the market.
The $17 million sale along Park Avenue, first reported by Curbed, marks another portfolio offload by Riggio’s widow, the journalist and philanthropist Louise Riggio. Louise, 78, is in the process of parting with hundreds of millions of dollars worth of the couple’s enviable real estate holdings, as well as large swaths of their massive art collection.
The Riggios’ Background
Leonard and Louise Riggio, pictured in 2013. Bloomberg via Getty Images
The Riggios’ longtime home in Manhattan sits on the 10th floor of this white-glove co-op.
The real estate portion alone, with recent sale and listing prices combined, appears to be in the $103 million range.
This recent Manhattan listing, repped by Sotheby’s International Realty, comes roughly one year after the September 2024 death of Leonard at age 83 from Alzheimer’s disease.
The Co-op Apartment
The couple called this 720 Park Ave. apartment home for decades — so long, in fact, that property records of its purchase are not publicly available.
The co-op apartment’s private elevator landing opens to a 35-foot-long galley, lined with geometrically inlaid floors and custom-built bookshelves. Celebrity architect Peter Marino designed the interiors, according to the listing, but the spacious interiors appear more understated than the leather-loving Marino’s typical style.
The historic white-glove co-op was itself designed by legendary New York architect Rosario Candela in 1928, and has long been home to generations of New York City elites.
Leonard Riggio’s Career and Art Collection
The Barnes & Noble mogul, pictured in 2005, was an avid art collector. Patrick McMullan via Getty Images
Riggio founded the Barnes & Noble bookstore chain in 1971. Tamara Beckwith
Leonard’s more humble origins began in Brooklyn. The son of a cab driver and former prizefighter, he entered the book business while attending New York University in 1965, operating a popular student bookstore before taking out a loan to purchase Barnes & Noble in 1971. His innovative approach to book-selling — offering patrons cozy spaces to read and in-store cafes — made the chain a household name.
Leonard and Louise were also avid art collectors. Works by Pablo Picasso and Rene Magritte once lined the high-ceilinged walls of their Park Avenue apartment. Louise sold off much of the couple’s art collection earlier this year via Christie’s. The auction offered more than 30 masterpieces by artists like Andy Warhol, boasting an estimated collective value of $250 million, the New York Times reported.
The Sale of the Riggios’ Properties
“This is tough for me to say goodbye to old friends, but I will not put them in storage,” Louise told the outlet. “They need to be seen.”
The art-filled four-bedroom at 720 Park is the latest among Louise Riggio’s sell-offs. Rick Dembow N.Y. Post
And the houses need to be lived in.
The recent Manhattan listing follows the sale of the couple’s Palm Beach, Florida residence last November for a whopping $81 million, according to property records.
That 8,005-square-foot, modernist residence features seven bedrooms and seven baths. The Riggio family still maintains a $1.89 million home in Wellington, a village in Palm Beach County, according to records.
A sale is also pending on one of the couple’s residences in the Hamptons — a Bridgehampton home the couple purchased for $5.62 million in 2015, according to county records. Listed in February, the home went under contract in September with a $7.99 million price tag. The 1.2-acre property comes with a pool house, a bocce court and close proximity to Bridgehampton’s Main Street.
Riggio, a Brooklyn native, pictured in 2018. Getty Images for Jazz At Lincoln
The Riggios’ most renowned portfolio piece remains off the market, however. The 13-acre property, profiled by the Wall Street Journal in 2018, hosts the couple’s show-stopping collection of outdoor art pieces by sculptors like Mark di Suvero and Louise Nevelson.
Conclusion
Neither Sotheby’s nor Louise could not be reached for comment. The sale of the Riggios’ NYC co-op is a significant event in the world of real estate and art collecting. With its rich history, stunning architecture, and impressive art collection, this property is a true gem. As the Riggio family continues to part with their enviable holdings, it will be interesting to see what the future holds for these incredible properties.
FAQs
Q: How much is the Riggios’ NYC co-op for sale for?
A: The Riggios’ NYC co-op is for sale for $17 million.
Q: Who designed the interiors of the co-op apartment?
A: Celebrity architect Peter Marino designed the interiors of the co-op apartment.
Q: What is the size of the Riggios’ Palm Beach, Florida residence?
A: The Riggios’ Palm Beach, Florida residence is 8,005 square feet and features seven bedrooms and seven baths.
Q: How much did the Riggios purchase their Bridgehampton home for?
A: The Riggios purchased their Bridgehampton home for $5.62 million in 2015.
Q: What is the estimated collective value of the art collection sold by Louise Riggio via Christie’s?
A: The estimated collective value of the art collection sold by Louise Riggio via Christie’s is $250 million.
