The Charles M Schwab Mansion

Charles M Schwab was an American steel magnate.  He worked under Andrew Carnegie and soon surpassed his former employer in his choice for housing.  Schwab decided he would build the largest, most grand mansion on the "wrong" side of Central Park.  He purchased a city block and began construction on his 75 room mansion and was completed in 1901.  The style of the home was beaux-arts with French Renaissance style more in line of a church than a formal house. With an estimated cost of 6 million to complete Andrew Carnegie once remarked  "Have you seen that place of Charlie's? It makes mine look like a shack."


Riverside house as it came to be known was set upon park like land.  The home contained all the finest items money could buy.  There was a large chapel, in the basement was a 20 x 30 ft pool, had 6 elevators and had its own power plant with central air conditioning.   Sadly the grand house would fall like so many others.  The great depression hit hard and wiped out all Schwab's money.  Schwab had to move into a small apartment on Park Ave where he died penniless in 1939.  The land was bought by a developer and after a sale of the interior fittings the home was knocked down.

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