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Hedge funder’s opulent Upper East Side mansion hits the market for $39M

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The owner is moving into an even bigger Upper East Side mansion

Photos courtesy The Modlin Group.

Former hedge fund manager Philip Falcone and his wife, Lisa, have decided to part ways with their five-story Upper East Side mansion for the whopping asking price of $39 million, after purchasing the home in 2004 for around $10.375 million, reports the Wall Street Journal.

Situated along East 67th Street, the home dates back to the 1800s and encompasses roughly 13,300 square feet of space with an additional 2,200 square feet of outdoor space. The seven-bedroom, seven-bathroom home has been renovated over the years but still showcases 19th-century designs and grandeur across its six levels.

Per the listing, which is being shared between the Modlin Group and Douglas Elliman, the home is complete with a grand staircase, 13-foot ceilings in its reception gallery, gilted-coffered ceilings, intricate wall moldings, several wood-burning fireplaces, a 25-foot long formal dining room, and a paneled library. Of course, this only scratches the surface and there are a plethora of other details, including a wine cellar, home gym, finished basement, and plenty of dressing rooms/storage space.

As for the Falcone’s, they plan on moving into another extraordinary Upper East Side home, just a stone’s throw away from the place that they are selling. In 2008, the couple purchased Bob Guccione’s former abode at 14-16 East 67th Street for a cool $49 million and have been revamping it over the years.