clock menu more-arrow no yes

Filed under:

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

New, 5 comments

The building at 1083 Fifth Avenue is one of three properties the museum is trying to sell

Courtesy of Corcoran

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 Streeton 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.