NYC townhouse finally sells after massive $35M price cut

2022-09-16 19:44:30 By : Mr. Miss Rita

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A Manhattan Beaux-Arts townhouse that has gone on and off the market since 2016 has finally landed a buyer — for $35 million less than the initial asking price.

The six-bedroom, 14-bathroom Upper East Side residence, at 8 E. 62nd St., first hit the market with a hefty $84.5 million price tag.

Spanning roughly 15,000 square feet over six levels, the property was last listed for $55 million before entering contract for nearly $50 million, the Wall Street Journal reported.

While the identity of buyer remains hush-hush, current owner and co-founder of real-estate investment firm Somerset Partners, Keith Rubenstein, revealed that the property ended up “in good hands.”

Rubenstein and his wife, Inga, purchased the home in 2007 for $35 million. They spent several years extensively renovating it. And despite the hefty price cut, they’re still looking to walk away with a nice chunk of money from the sale.

When they first listed the home, Rubenstein told The Journal: “we like to move every now and then. We like projects.”

Located just off Central Park, the townhouse was constructed in 1903 by Grants Tomb architect John H. Duncan.

Features include a sweeping marble staircase, a breakfast room with a woodburning fireplace, and 17-foot ceilings in the formal living and dining areas, the previous listing noted. On the third floor is a library with custom millwork paneling.

The primary suite boasts dual bathrooms with heated floors and steam-resistant mirrors. Additional bedrooms are on the fourth and fifth floors. There’s even a temperature-controlled vault for fur clothing.

Other luxe features include handmade marquetry floors, a billiards room with walls upholstered in red Hermès leather and a smoking room equipped with a ventilation system.

Amenities include a wine cellar, a gym and a spa area with a sauna, and a plunge pool.

A garden on the property is about 2,500 square feet. The rooftop terrace is complete with an elevator entry and contains a lounge area, a dining area protected by a cedar pergola, a full outdoor kitchen with a built-in grill and an outdoor refrigerator, plus views of Central Park.

Adam Modlin of Modlin Group held the listing. The Corcoran Group represented the buyer.