Townhouse

Real estate investor’s Tribeca townhouse asks for $40 million

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145 Reade Street (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Zillow)

A Tribeca townhouse is back on the market for the first time in nearly 20 years, asking for $40 million.

Real estate investor and founder of Ascot Properties NYC Lucky Bhalla and his wife Laura are the sellers behind 145 Reade Street, reported Mansion Global. If the Bhallas get their asking price – or even less – they’ll earn a pretty penny, as the 10,500 square foot house sold for $1.5 million in 2003.

The five-story limestone and brick townhouse was built in 1910 and rebuilt in 2013, which likely justifies the price hike.

The 23.5-foot-wide home has four bedrooms, seven bathrooms, four half bathrooms, and nine fireplaces, three of which are wood-burning. The exterior spaces of the house total over 1,000 square feet.

The grand foyer features ceiling heights of up to 24 feet. The first floor features a large chef’s kitchen with a fireplace, built-in banquet and patio.

A majestic staircase leads to the second floor, which features a formal living room with a marble fireplace and French doors leading to a juliet balcony. There is also a circular dining room with a pantry and a powder room.

The master suite is located on the third floor, which has walk-in closets throughout and a bedroom with its own balcony and fireplace. The bathroom has a bathtub and a fireplace.

Two other bedrooms, with en-suite bathrooms, are located on the fourth floor. The fifth floor features another bedroom and a double-height paneled library, as well as a separate bar and powder room.

There are two outdoor terraces. There is a front patio with a 17ft heated, salt-water pool and a back patio with an outdoor kitchen, dining area and lounge area.

The couple are selling the house to move to Miami, they told Mansion Global. Compass agent Arran Patel, who has the list with Vickey Barron, told the outlet that despite a cool the luxury market as a wholehe sees the lack of inventory propelling Tribeca’s most expensive properties to success.

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