Townhouse

New York townhouse finally sells after massive $35 million price cut

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

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

Spanning approximately 15,000 square feet over six levels, the property was last listed for $55 million before closing a nearly $50 million deal, the The Wall Street Journal reported.

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

Rubenstein and his wife, Inga, bought the house in 2007 for $35 million. They spent several years renovating it in depth. And despite the steep price drop, they’re still looking to walk away with a nice amount of money from the sale.

A living space.
Evan Joseph
The marble staircase.
The marble staircase.
Evan Joseph
The wet bar.
The wet bar.
Evan Joseph
The library.
The library.
Evan Joseph

When they first listed the house, Rubenstein told the Journal, “We like to move from time to time. We love projects.

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

Features include a sweeping marble staircase, a breakfast room with a wood-burning fireplace, and 17-foot ceilings in the formal living and dining areas, the previous listing said. On the third floor is a library with custom woodwork.

The master suite has two bathrooms with heated floors and steam proof mirrors. Additional bedrooms are on the fourth and fifth floors. There’s even a temperature-controlled trunk for furry clothing.

The kitchen.
The kitchen.
Evan Joseph
The breakfast room.
The breakfast room.
Evan Joseph
The master bedroom.
The master bedroom.
Evan Joseph

Other luxurious features include artisanal marquetry floors, a billiard room with walls upholstered in red Hermès leather, and a smoking room equipped with a ventilation system.

The property includes a wine cellar, a gym and a spa area with sauna and pool.

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

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

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