Financier-turned-developer Kate Shin has made good on her promise to price her first project?a gut renovation of the 120-year-old townhouse at 170 East 80th Street?above $30 million. In fact, she's added some breathing room: The newly modernized home has just hit the market asking $35 million, or about $2,692 for each of its 13,000 square feet. Shin and her partners, sporting the slightly confusing name WEmi:t LLC, bought the former carriage house for $8.5 million in 2008. The renovation, designed by Toshiko Mori, kicked off soon after, and will wrap up in about a month. What took so long? Get a load of the new toys. This ain't your grandpappy's Upper East Side!
Directly above you see the 20' x 22' cascading waterfall and pond, which "were designed by waterfall specialists to create a serene and peaceful atmosphere," according to a press release. The five-floor mansion also has a 1,000-bottle wine cellar and "testing bar," a 2,300-square-foot spa lounge complete with jacuzzi, sauna, gym and massage room (perfect for those who keep a live-in masseuse), and an art gallery on the main floor for private or commercial use. Our monocle is fogging up just thinking about the place.
Some more renderings are in the gallery above, as well as a pre-renovation shot of the house. Can 170 East 80th Street possibly meet its astronomical asking price? Hey, didn't Madonna make the hinterlands east of Lex safe for mansion buyers?
· Listing: East 80th Street Townhouse [Brown Harris Stevens]
· New developer to market $30M project [Real Deal]