For the third time in three years, the monmouth Rothschild Mansion of East 70th Street is on the market, now asking $40 million. The 11,256-square-foot home at 41 East 70th Street most recently sold in a late 2013 transaction to an anonymous LLC for $32 million. Prior to the sale, the home was owned by steel tycoon Leroy Schecter who purchased it for $25 million in the midsts of trying to unload his 15 Central Park West pad (the same place once rented by allegedly banned Limestone Jesus tenant A-Rod) for $95 million. The home is now being marketed subtly as a fixer-upper, with major brokerbable emphasis on its rear garden, which is a part of the Lehman Garden tract, its "abundance of delightful leafy vistas," and its proximity to "other equally grand and important houses."
The 28-foot-wide townhouse was built in 1929 by department store magnate Walter N. Rothschild and his wife Carola Warburg Rothschild. Prior to Schecter's buy, the home was owned from 1958 through 2012 by The Century Foundation, a non-partisan think tank. The Times reported in late 2013 that neither Schecter nor the foundation renovated the space in recent years. Along with a lot of TLC, the next buyer of the home should invest in a snow blower. The mansion made headlines in January over the outrage of its neighbors when its absentee owner failed to clear its walks.
· Listing: 41 East 70th Street [Sotheby's via StreetEasy]
· Gardens in the Backyard for $32 Million [NYT]
· All 41 East 70th Street coverage [Curbed]