162 East 63rd Street, a five-story, single-family Lenox Hill townhouse, is on its third brokerage in four years, but it's back to a familiar price point. Purchased by its current LLC-shielded owner for $9.1 million in 1998, the house was renovated and put back on the market a decade later for $12 million. Nobody bit, so it was delisted and returned the following year for $9.25 million, then spent another year getting chopped all the way down to $7.25 million before being delisted once again. Now it's back again for $9,950,000, making this both a PriceChopper and a PriceUpper. It doesn't appear that any further renovations have been done since the the original 2008 listing, but now that the market has recovered, its chances of finding a buyer should increase significantly. The only mystery here is what possessed the owners to pay $9.1 million for a 4,500-square-foot, un-renovated Lenox Hill townhouse in 1998.
UPDATE: Turns out this is the townhouse that belongs to one of the Real Housewives of New York, so that sort of explains it.
· Listing: 162 East 63rd Street [Corcoran]
Loading comments...