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Inside the Park Avenue Townhouse Nobody Wants

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When we touched upon the troubled history of the townhouse at 603 Park Avenue a while back ago, we didn't know the full story. Now, the Observer's Max Abelson takes the $35 million listing?which has an unprecedented 100 feet of frontage on Park Avenue (but is only 20 feet wide)?for a spin, and it turns out that the 25-room mansion, purchased by office building developer Sherman Cohen for $12.5 million, has been on the market for nearly 20 years. The fluctuating asking prices on the corner property have included amounts like $20 million (1988), $13.5 million (1995), $25 million (2002), $14 million (2002), $30 million (2005) and $35 million (since 2007). According to Cohen's son, the 1920 neo-Federal has received a bid over $30 million, but it involved "smoke and mirrors," and the price changes are due to "scuttlebutt." The family has even considered building a tower on top, but the Landmarks Preservation Commission probably would not be on board with that. The listing is now with Sotheby's, where the above photos and floorplans come from. Pretty amazing place, for an unloved multi-million-dollar mansion.
· Listing: Federal Style Mansion on Park Avenue [Sotheby's]
· Spotless Park Avenue Mansion Edges Toward 20 Years on the Market, Still $35M [NYO]
· Funky Friday Listing: The Townhouse Nobody Wants [Curbed]

603 Park Avenue

603 Park Avenue, New York, NY