New York Observer's Former Headquarters Get A Price Chop

by Deidre Woollard (RSS feed)
Apr 11th 2009 at 8:02AM

The former home of the New York Observer newspaper had a big price cut this week. The Observer once set up shop in an eight-bedroom townhouse at 54 East 64th Street. The paper moved out years ago. The Observer's Max Abelson reports that the townhouse was bought by Russian developer Janna Bullock for $9.5 million and then later sold to Irish investor Derek Quinlan for $18.74 million. It was listed at $36 million but has now been reduced to $27 million.

The residence is still certified for commercial occupancy but could also be a home. Currently the space is somewhere between the two. It has a spiral staircase and and a thirty foot living room/office surrounded by full-height French-polished rosewood paneling and currently stuffed with desks. The property has approximately 10,000 square feet of floor area including a formal dining room turned conference room and library which is an office. Even the listing seems to not know what this place will be, it refers to "numerous additional bedrooms/offices." To me it still looks more like a residence than an office but I guess that with a price like this you've got to keep all your options open.

Gallery: The Observer's Former Headquarters