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Townhouse Market Bellwether Sells for $14.25 Million

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At the beginning of the year, 14 East 95th Street got some press as a symbol of improvements in the townhouse market. Developer Solomon Asser picked it up for $5.9 million back when it was an apartment building, turned it into a single-family mansion, and spruced it up further with some Durango marble, fireplace mantels, and a rear extension. He listed it for $19.8 million in 2009, and, after dropping the price, as a possible combo with the building next door. He found a buyer recently, and the sale has finally closed. So how much has the townhouse market improved? The place sold for, er, $14.25 million, according to a deed filed today. (The Observer identifies the buyer as art collector Robert Mnuchin.) Of course, that is substantially higher than the 2010 median UES townhouse sale price of $7.63 million, so as long as you're a developer who can handle giving a $5.55 million discount, maybe this is the time to sell.

· 14 East 95th Street coverage [Curbed]

14 East 95th Street

14 East 95th Street, New York, NY