The NYT Sunday real estate section offers a peek at the financial perks of restoring multifamily townhouses into single family structures. In the Greenwich Village Gold Coast, multifamily units recently sold for $4.5 million might be worth as much as $12 million (after $2 million or so of fixing up), says Corcoran's Sara Gelbard. A visit to Corcoran.com reveals that Ms. Gelbard has such a place on the market right now: a three-unit townhouse at 15 West 9th Street, delivered vacant. Asking is $4.9 million?plus that special tingly feeling that comes from partaking in a hot real estate trend.
· Listing: 15 West 9th Street [Corcoran]
· Putting Together What Was Taken Apart [NYTimes]