A foundation set up by artist Cy Twombly, who died last July, has come to the rescue of 19 East 82nd Street, a 25-foot-wide townhouse that's been sitting on the market with the unlikely asking price of $34.8 million. The foundation has paid just $27.75 million for the house and will turn it into an education center and Cy Twombly museum, the Journal reports. Normally we'd be sadder about a Beaux Arts mansion losing its single-family status, but this one was already halfway there. After periods as a store, offices, apartments, and, yes, a single-family mansion since its construction in the 1890s, art dealer Warren Adelson bought the place for $25 million in 2006 and turned the lower floors into a commercial art gallery. The new Twombly center will open later this year.
· Listing: 19 East 82nd Street [19east82ndstreet.com]
· Twombly Gets N.Y. Home [WSJ]
· 19 East 82nd Street coverage [Curbed]