NYC Townhouse Finally Sells After Massive $35M Price Cut – A Beaux-Arts townhouse in Manhattan, which has been on and off the market since 2016, reportedly found a buyer for $35 million less than the original asking price. The Upper East Side residence at 8 E. 62nd St. has six bedrooms and 14 bathrooms. It was initially listed for a hefty $84.5 million. The Upper East Side residence at 8 E. 62nd St. has six bedrooms and 14 bathrooms. It was initially listed for a hefty $84.5 million.
The property, which spans roughly 15,000 square feet over six levels, was most recently listed for $55 million before going under contract for just under $50 million, according to the Wall Street Journal. Keith Rubenstein, the current owner and co-founder of the real estate investment company Somerset Partners, revealed that the property ended up “in good hands” despite the buyer’s identity remaining a closely guarded secret.
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The house was bought by Rubenstein and his wife Inga for $35 million in 2007. They extensively renovated it over a number of years. And despite the significant price reduction, they still hope to profit handsomely from the sale. Rubenstein stated to The Journal that they “like to move every now and then” when they first put their house up for sale.
The townhouse, which is close to Central Park, was built in 1903 by Grants Tomb architect John H. Duncan. According to the previous listing, features include a grand marble staircase, a breakfast room with a wood-burning fireplace, and 17-foot ceilings in the formal living and dining areas. A library with custom millwork paneling is located on the third floor.
The main suite features two bathrooms with heated floors and mirrors that resist steam. On the fourth and fifth floors, there are additional bedrooms. Even clothing made of fur is kept in a temperature-controlled vault. A billiards room with red Hermès leather-covered walls, hand-made marquetry floors, and a smoking area with a ventilation system are additional opulent features.
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There is a wine cellar, a gym, a spa area with a sauna, and a plunge pool among the amenities. The property has a roughly 2,500 square foot garden. The rooftop terrace has a lounge area, a dining area covered by a cedar pergola, a full outdoor kitchen with a built-in grill and an outdoor refrigerator, as well as views of Central Park. It also has an elevator entry. The listing was held by Adam Modlin of the Modlin Group. The buyer was represented by The Corcoran Group.
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