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Oil Executive's Upper West Side Townhouse Goes For $16.5M

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Brazilian oil executive Paolo Gouveas bought this six-story townhouse at 41 West 74th Street in 2011 for $12.5 million and set about renovating it from a two-family to a single-family and adding some fun features such as a hot tub on the sixth-floor terrace and a gym and wine cellar in the basement. He put the house back on the market in September of 2012 asking $20 million, and now, after a long road of pricechops and brokerage switches, has found someone to take the 9,700-square-foot home off his hands to the tune of $16.5 million. Considering what Gouveas put into the renovation, he probably didn't make as huge of a profit as he was hoping for with this flip, so it looks like he'll just have to make do on his South American oil executive salary.

· Oil exec unloads $16.5M Upper West Side townhouse [TRD]
· Renovated Upper West Side Townhouse Returns, Seeking $20M [Curbed]