Real-Estate

Chelsea Townhouse Record Falls at $22M

Sterling Equities Chairman Fred Wilpon and 334 West 20th Street (Getty, Compass)

A renovated 19th-century townhouse sold by Sterling Equities has reportedly broken a Chelsea record.

The home at 334 West 20th Street sold for $22.5 million, according to the Wall Street Journal. The sale price came in underneath the March listing price of $25 million.

Nevertheless, the sale easily set the record for most expensive townhouse sold in Chelsea. The previous record was a $16.25 million sale in 2014, Jonathan Miller of Miller Samuel Real Estate Appraisers and Consultants told the Journal.

334 West 20th Street (Compass)

334 West 20th Street (Compass)

The 25-foot-wide home recently underwent a two-year renovation helmed by Scott Wilpon, nephew of Sterling Equities chairman Fred Wilpon. Wilpon helped restore the Greek Revival facade of the 7,000-square-foot home, which comes with five bedrooms.

The townhouse features a rooftop deck and a mud room with built-in dog washing capabilities. Other amenities include a back garden, screening room, wine cellar and gym.

Renovations on the home were completed prior to 2021, but the Journal previously reported the home wasn’t listed until the spring in hopes it would sell quicker. According to the listing, the contract was signed in late October before the sale closed on Nov. 8.

Jim St. André and Robert McCain of Compass had the listing.

Sterling Equities purchased the house in 2015 for $8.5 million, according to property records seen by the Journal. Last year, Fred Wilpon struck a deal with hedge funder Steve Cohen to sell the New York Mets for between $2.4 billion and $2.5 billion.

As the international travel ban comes to an end, Manhattan’s luxury market appears poised to pick up. Between Nov. 8-14, 60 contracts for homes asking at least $4 million were signed, the most in a single week this year.

[WSJ] — Holden Walter-Warner

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button