J
oe Farrell, the celebrity builder behind Madonna’s Hamptons home and a former East End mansion once rented to Jay‑Z and Beyoncé, sold his 5‑bedroom Park Avenue duplex after raising its price. The 3,000‑sq‑ft unit at 510 Park Ave. (between 60th and 61st Streets) was listed at $5.49 million—up from $4.9 million last December—after Farrell bought it in 2013 for $3.56 million.

    The renovated space opens to a grand foyer with floor‑to‑ceiling steel doors and laminated glass, a 48‑foot open living and dining area, and a chef’s kitchen. The main bedroom is a corner suite with a walk‑in closet and spa‑style bath featuring radiant‑heated floors. Two additional bedrooms have ensuite windowed baths, a fourth room contains built‑in Murphy bunk beds, and the fifth bedroom currently serves as a home office. Design details include 8‑inch white oak flooring and custom millwork.

    The 15‑story boutique building, built in 1925 and converted to co‑ops in 1946, sits on a two‑story limestone base and offers amenities such as a gym and bike storage. Monthly maintenance fees total $8,950.

    Listing broker Kelly Killoren Bensimon of Douglas Elliman said the price hike was a strategic move to enhance the building’s value rather than an emotional decision. The buyers are Los Angeles businessman Patrick Peyton and his wife, Jaleh. Farrell’s gut renovation turned the pre‑war duplex into a modern, high‑end residence, and the sale marks the latest chapter in his portfolio of luxury properties.