Townhouse

Manhattan townhouse market hot streak continues with $57M deal

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A historic townhouse on Manhattan’s Upper East Side has sold for about $57 million in an off-market deal, according to agents involved in the sale. The deal, which includes furnishings for the home, is the latest in a series of major New York townhouse sales.

According to property records, the seller of the 22-foot-wide townhouse was an entity related to Felice Lasalvia di Clemente, who served as an executive in Italy’s organic grocery industry. The entity paid $16 million for the townhouse in 2012, records show. Mr. di Clemente could not immediately be reached for comment.

The buyer, who was based in South Africa, came from the financial sector, according to people familiar with the matter.

After: Manhattan’s luxury housing market perked up last week

Loy Carlos de Serhant, who represented the seller alongside brokerage founder Ryan Serhant, said the deal was done virtually and early screenings took place over FaceTime. The deal was nearly done before the buyer saw it in person, he said. Agents said the home was priced at around $50 million, with furniture adding several million dollars to the deal.

The property was built in 1879 and modified in the Classic Revival style in the 1930s, according to the nonprofit organization Friends of the Upper East Side Historic Districts. It spans about 9,200 square feet, excluding two floors below street level, with six bedrooms as well as staff rooms, Carlos said. The move-in ready property was recently refurbished and includes a private indoor pool and sauna, he said.

The sellers employed a large number of Italian craftsmen for the finishes, Mr. Carlos said. Some of the interiors were designed by Achille Salvagni, an Italian architect widely known for designing luxury yachts, he said.

The buyer was represented by Adam Solomon and Assad Masri of Douglas Elliman. The transaction, which took a year, was complicated by the fact that the seller did not speak English well and the buyer wanted to wait until the renovation was completed before closing, they said. “There were a lot of moving parts,” Mr. Masri said.


The deal comes amid a busy period for the luxury townhouse market in New York. A Beaux-Arts mansion previously occupied by the Permanent Mission of Serbia to the United Nations sold for $50 million in September. Also last month, real estate investor Keith Rubenstein sold his Upper East Side townhouse for nearly $50 million.

Mr Serhant said his company “continues to see action and traction in the super premium market, despite global economic uncertainty”.

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