Family Spends $57.5 Million on 2 Units, Plans to Combine Into 1 Home in Manhattan

Family Spends $57.5 Million on 2 Units, Plans to Combine Into 1 Home in Manhattan

The family plans to combine a 10,000-square-foot space they closed on Thursday for $42 million with a smaller apartment they bought for $15.5 million, the Wall Street Journal reports.

A buyer has spent $57.5 million on two units at the Manhattan condominium 33 East 74th Street with plans to combine them into one large home, according to co-listing agent Katherine Gauthier of Douglas Elliman Real Estate.

One of the units, measuring about 10,000 square feet, closed Thursday for $42 million, said Ms. Gauthier, who represented the developer, Daniel Straus, with colleague Lauren Muss. The family who bought it plan to combine the unit with a roughly 3,800-square-foot apartment they recently purchased for $15.5 million, Ms. Gauthier said.

The larger unit comprises the first four floors of a century-old townhouse known as the Atterbury Mansion. The mansion is part of an assemblage of nine adjacent buildings that make up the 10-unit condominium: The landmarked facades of the buildings were restored, but the insides were gutted and combined.

Ms. Gauthier said the buyers, whom she declined to identify, went into contract on the larger unit in October, but then wanted more space. They decided to buy an adjoining three-bedroom apartment in the building’s “A Line” and combine the two.

“This buyer was very much interested in creating something unique,” said Mr. Straus.

The larger unit had been listed at $45 million. It went into contract at the asking price in October, but the sale price was modified after the buyer decided to buy the adjoining unit, which was priced at $16.5 million, she said.

Mr. Straus purchased the buildings five years ago from the Whitney Museum of American Art for about $92 million. Initially he put the Atterbury Mansion on the market unrenovated for $38 million, but decided to take the townhouse off the market and divide it into two units connected to the rest of the development.

The other Atterbury unit, which encompasses the top three floors, has closed for $31 million, Ms. Gauthier said.

Elliman’s Richard Steinberg represented the buyers.

About Alexis Sostre

Entrepreneur, contributor, writer, and editor of Sostre News. With a powerful new bi-lingual speaking generation by his side, Sostre News is becoming the preferred site for the latest in Politics, Entertainment, Sports, Culture, Tech, Breaking and World News.

Check Also

Daily Mail Settles Libel Case with Melania Trump for $2.9 Million

Daily Mail Settles Libel Case with Melania Trump for $2.9 Million

The Daily Mail has agreed to settle two lawsuits with Melania Trump stemming from an August article that claimed the first lady once served as an escort.