Forstmann Mansion, Estate of the Day
I've mentioned this one earlier but I hadn't given it full estate of the day treatment. Even in New York City, land of pricey real estate, a $75 million listing stands out. This Upper East Side neo-Italian Renaissance mansion was commissioned in 1922 by Julius Forstmann, a prominent German merchant and designed by famed C.P.H. Gilbert whose name was associated with so many of the great mansions of New York. It has a limestone façade and is composed of five floors with an additional garden level and a full sub-basement for a total of approximately 21,000 +/- sq ft. The foyer leads to a reception hall and the rooms are done on a grand scale and include many original moldings and details. However like another $75 million listing in New York, it will take a bit of work to turn this into a family home again.
As the NY Times reported earlier this year, this home was in use by Lawrence Salander's Salander-O'Reilly Galleries which rented it for a steep $1.8 million a year. But the gallery is now in bankruptcy court, amid charges of fraud, and the building's owner, Aby Rosen, has put it on the market. Rosen also held his birthday party at the mansion earlier this year.
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Reader Comments (Page 1 of 1)
zoey Nov 19th 2008 1:22PM
I predict this one sets on the market until the owner comes down to about 45 million. It is cute but that gosh awful reddish color needs to come off the walls :)
Chris Nov 19th 2008 1:50PM
What about parking? One could argue that if you can afford this, you would be chauffered about in your limo. But, I would imagine someone would want to park their Bentley/Lambo, etc nearby...and w/ a basement, I'm not seeing underground parking.
Maybe there's street parking out front (LOL)
just me Nov 19th 2008 1:59PM
this is a great house on a great street. I think it will take a while to sell, but the price won't move a lot. As for parking, New Yorkers are used to having their cars in garages, usually less than two blocks from where you live. Rosen can surely afford that, although some garages charge more than some rents elsewhere in the country--our parking spot cost nearly $600.00 a month.
kelly Nov 19th 2008 10:55PM
have to ask not being a new yorker... people really have this much in real estate but not have attached parking? what about security? even with that kind of money I can't imagine you'd want a driver escort every time you go out...
PTG Nov 19th 2008 10:19PM
The first two posters obviously are not from the city and not familiar with the real estate market here. It's not going to go down to 45 million for sure.
private garages? very few brownstones have those in ny...
and chauffeured in your limo? ew, what is this, high school prom? try a Maybach, Bentley, Rolls or more commonly a S or 7
just me Nov 20th 2008 10:16AM
Yes, attached parking in NY is just not expected, there are a few townhouses that still have a garage but these are rare. Of course, newer high risers have underground parking and you just take the elevator to your garage, but private parking in a single family home--rare indeed.
Security, not too many NYers are worried about security to and from their home--you'd never be able to get around. Event the Duchess of York who now calls Park Avenue home doesn't have a security detail in NY.
Drivers, well yes, people have drivers but often it's more a car service chartered by the day, week or month. And it's a town car or G500 or even an Escalade (horror).
zoey Nov 23rd 2008 10:17AM
PTG: I am familiar enough to know a 80 million dollar apartment just came off the market along with a 75 million dollar one and a 70 million dollar one because they would not sell. Familiar enough to know a 55 million dollar apartment was just reduced to 38 million. What am I not grasping here. Granted the owner may not come down to 45 but I doubt he will get 75 million for an apartment that needs work done on it. :)