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Old Upper East Side Gallery Sells to Major London Developer

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Developer Christian Candy (of London's One Hyde Park) might have tired of his Plaza penthouse "attic," but he still has a thing for troubled and/or confusing Manhattan listings. He is, the Journal reveals, the new owner of 19 East 70th Street, the limestone mansion that was not so long ago the Knoedler Gallery. The art gallery last sold in 2011 at a $28.5 million discount?and then its new owners, the Journal explains, decided not to go through with their planned renovation of the space, which has eight bedrooms, seven bathrooms, and an amazing staircase. Candy paid $35 million to take the building off their hands (down from an asking price of $38 million).
Candy will turn the place into a single-family mansion and then "hold the asset as a long-term investment." He's on a bit of an investment binge lately?also picking up a $24 million house in Los Angeles last week?but he still wants nothing to do with the Plaza.
· Christian Candy Pays $35 Million for a N.Y. Mansion [WSJ]
· 19 East 70th Street coverage [Curbed]