Even in the depths of summer, brokers and sellers on the Upper East Side were able to muster up outrage over a 25 percent PriceChop at 122 East 70th Street, a townhouse purchased for $5.05 million in 2005 and relisted for $20.2 million in 2009. The neighborhood was worried what the chop to a mere $14.9 million asking price would do to nearby resale values. But perhaps they got worked up too soon, because the house has just sold for, brace, only $12.85 million to David and Susan Edelstein. This after a renovation that included the hand-carving of a massive alabaster fireplace by a Long Island City craftsman. If even having the best fireplace in the city outside of Palazzo Chupi isn't enough to get the house sold, well, the neighbors might as well just give 'em away.
· Listing: 122 East 70th Street [BHS]
· Sale: 122 East 70th Street [ACRIS]
· 122 East 70th Street coverage [Curbed]