The foreign investor who bought 106 East 71st Street in 2007 for $16.7 million and restored it to its original splendor finally pulled off the flip, although the 25-foot-wide limestone mansion didn't end up getting as much as he or she would have liked. After the house was put back on the market in 2010 for $28.8 million, it obstinately stayed there for years, reducing the ask only slightly to $26.5 million. But now, it has finally found a buyer who, city records show, has paid $22.85 million for the 6BR/7BA house, which comes complete with seven wood-burning fireplaces, mahogany panels, two wet bars, a planted garden, and a "penthouse library" (hopefully that's just a library full of Penthouse magazines). Both buyer and seller are shielded by LLCs.
· Big Ticket | Baronial Show House Sold for $22.85 Million [NYT]
· 106 East 71st Street coverage [Curbed]