National Academy of Design sells an Upper East Side townhouse for $25M

One of the National Academy of Design’s marquee Upper East Side properties has found a buyer: According to city records, the townhouse at 1083 Fifth Avenue sold for $25 million, a slight decrease from its original $29.5 million asking price.

The nearly 15,000-square-foot building sold to Ogden Codman LLC, whose name is a reference to the architect responsible for its current design. According to the Real Deal, the LLC is “linked to merchant bank Raine Group”; Corcoran’s Carrie Chiang repped the museum in the sale.

The National Academy first put its three Upper East Side properties—this townhouse, along with another at 3 East 89th Street, and the 65-foot-wide school building at 5-7 East 89th Street—on the market in 2016 for a whopping $120 million.

But after a year of not finding a buyer, the museum tried a different tactic: Last spring, the three buildings hit the market as separate listings, which could be purchased individually or as a package deal. In the case of 1083 Fifth Avenue, it seems the buyer opted for the former. (The building connects to 3 East 89th Street, which is still available for $29.5 million, via a large rotunda.)

Courtesy of Corcoran

Courtesy of Corcoran

This particular building holds the gorgeous marble staircase that has shown up in many an Instagram from within the museum, along with a 51-foot gallery, apparently known as “the Adam Room”; five bedrooms (two of which are master suites, because why not), 10.5 bathrooms, an elevator connecting the floors, and myriad fancy decorative details.