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Upper West Side Townhouse Sells for $1.7 Million Off

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One of the perks of owning the city's largest residential brokerage: having lots of high-powered brokers to choose from when you need to sell a townhouse. Elliman head Howard Lorber put them all?and we mean all?on the listing for 41 West 74th Street, a two-family house for which his Vector Group holding company nabbed the mortgage last year. Lorber's move worked: the property just sold for $12.5 million, the Observer notes, in an all-cash deal to a foreign buyer (identified in an earlier rumor as a South American industrialist). Since the house last sold in July 2006 for $5.75 million, that's not a bad turnaround.
Still, the house was originally hoping for a little more money, since it started out asking $14 million in 2009 and upped its price to $14.245 million last year. Rumor had it that there was even a three-way bidding war, but maybe it was a war among low-ball offers. For those whose offers were still too low, the place lives on in our old gallery.
· Howard Lorber Single-Handedly Fixes the Housing Bubble [NYO]
· Bidding War Breaks Out Over Renovated UWS Townhouse [Curbed]