London developer Christian Candy has closed on his purchase of 19 East 70th Street, the former Knoedler Gallery, on which he spent $35 million. Contrary to earlier reports, he doesn't just intend to hold onto the place as an investment once he converts it into a single-family home. It will actually be his family's primary residence in the U.S., and Candy has already gone through all the necessary paperwork to make sure that his conversion plans are allowed under current zoning. [NYT; previously]
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