Filed under: Estates
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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Gallery: Forstmann Mansion