Townhouse Formerly Owned By Penthouse S Bob Guccione Sells For Nearly 80 Million

During the decade that the Falcones owned the home, they spent millions in renovating the property. They put in a pool and movie theatre below ground level and expanded the property to nearly 30,000 square feet. Even more impressive, the townhouse was never formally on the market – it was sold in a private deal. Another hedge fund manager, John Griffin, purchased the property for $77 million. The previous record for the highest-priced townhouse was set in 2006, when financier J. Christopher Flowers bought the Harkness mansion on East 75th Street for $53 million. This latest sale further fuels the red-hot real estate market in New York City. Jeff Bezos just plunked down $80 million for three condos at 212 Fifth Avenue and serial real estate purchaser Ken Griffin paid $220 million for a penthouse at 220 Central Park South. Sales of homes at or above $30 million have doubled in the first quarter of 2019 as compared to 2018. It seems insane that there are enough buyers out there for these $80 million + homes but in New York City, there are. And for any hedge fund managers out there looking for a new home there are a number of other enormous Upper East Side townhouses still on the market. There’s an 11,000 square foot one on East 76th Street selling for $35.8 million, a 33-foot wide townhouse on East 76th Street on the market for $67 million. As for the Falcones, they have another townhouse up for sale. They bought the property in 2004 for $10.4 million and put it on the market in 2018 for $39 million. They’ve decreased the price several times. It is now selling for $29.5 million.