Phipps Mansion, 1905-1930. Wealthy entrepreneur Henry Phipps Jr. had this marble mansion built on the corner of 87th Street and 5th Avenue in 1905. It rubbed shoulders with the other mansions that lined Fifth Avenue until Henry died in 1930. At this time, Henry's wife sold the property to a developer and began stripping the building of the Vermont marble that was used extensively both inside and outside the house. In fact, the entirety of the building's marble facade was carefully removed to be sent to an empty field in Brookville, New York. This is where their daughter, Amy, meant to build her country estate known as the "Templeton." Little is known about what came of the Templeton, but the stone sat untouched in Brooksville for over 100 years. It eventually drifted around the shores of Long Island, where it then sat underneath the Roslyn viaduct for over 80 years. The Phipps lost the lease to their land after many years went by, and the stone went up "for sale" to anyone with the means to retrieve it. In an interesting case of restoration, the stone was collected by architect Ronnette Riley and repurposed to repair the balustrade of the de Seversky Mansion in Old Westbury.

Phipps Mansion, 1933. Henry Phipps was the partner of Andrew Carnegie in the Carnegie Steel Company. When the company sold in 1901 he made a profit of approximately $100 million. As generous as Carnegie, Phipps funded hospitals for TB patients and working-class housing. In 1901, Phipps purchased a number of lots on the corner of Fifth Avenue and 87th Street. He commissioned the firm of Trowbridge & Livingston to design a massive Italian Renaissance style mansion. Four stories (though it looked to be only three) and set far back from 87th Street, the home was reached via a semi-circular carriage drive. Largely complete after many years of work around 1909, the family then moved into the home that had cost Phipps $2.5 million. Less than 10 years later the mansion was sold to Daniel Guggenheim. In the 1920s apartment house development came to Fifth Avenue with gusto. Developers purchased the mansions of millionaires who had moved on or passed away and quickly replaced them. The Phipps Mansion was demolished in 1927 and replaced with a 13-story apartment house, completed in 1928.

Carnegie Hill residents revere their neighborhood for its proximity to Central Park as well as for its architectural treasures. Residents and visitors alike also appreciate and enjoy the diversity of Carnegie Hill’s fine homes, apartment houses, and cultural attractions, many of which lie along the stretch of Fifth Avenue known as Museum Mile.