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$20 Mil Townhouses Dropping Like Flies

The $20-Million Nine is now the $20-Million Seven! Or perhaps less than that, we really haven't been paying very close attention. Anyhoo, word comes from the Observer's Michael Calderone that two East 64th Street townhouses, both listed at over $20 million for over a year, have sold. A six-story brownstone that was listed by Elliman actually belonged to an Elliman broker (this biz pays, eh?), who bought the place with her hubby 15 years ago for around $3 million. 16 East 64th sold to a real estate investor for $21.5 million.

Two doors down, the five-story mansion at 20 East 64th is being sold by an investment banker and his interior designer wife for near the $27.9 million asking price. The marble palace was once featured in Architectural Digest, just like your apartment. What do these two sales mean for all those doom-and-gloom high-end market forecasts? Calderone puts it well, so we'll just steal it: "While it’s still too early to tell, these two high-end transactions—both taking place between Madison and Fifth avenues—could provide a nice bounce to the fourth-quarter market reports, when averaged in with the rest of the sales in Manhattan." We haven't seen average-inflation like this since our spring semester junior year at Harvard!
· Miracles on 64th! Two $20 M. Deals [Manhattan Transfers]
· The $20-Million Nine: Smells New, Looks Old [Curbed]
· The $20-Million Nine: Number 8, as in Ornate [Curbed]