The apartment house has 31 units. The building is made of limestone. It has the highest ceilings and widest hallways on Park. The building was built in 1929, designed by Rosario Candela and Arthur Loomis Harmon, the design partner of Shreve, Lamb and Harmon. The builder was James T. Lee, whose daughter Janet Lee Bouvier and son-in-law Jack Bouvier would take the final open lease (according to one account, for free), and their daughter Jackie Kennedy Onassis grew up there. (Gross, 2005)
Life in the building is amusingly described in the New York Social Diary
In 2005, author Michael Gross published a detailed book on the building and its history, 740 Park: The Story of the World's Richest Apartment Building.