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.