After many years on and off the market, a Manhattan townhouse is hiking its price 11% to a lucky $28.888 million in hopes of attracting Chinese buyers, for whom the number 8 is considered a fortunate digit.
After previously asking $26 million with another firm, the Upper East Side townhouse is now listing with William Stafford IV and Ryan Serhant of Nest Seekers International. “We work with a lot of overseas buyers,” said Mr. Stafford. “We’re hoping to grab their attention by listing it at that number.”
This isn’t the home’s first price increase. Owner Yoram Koby, a real-estate investor, purchased the house in the 1990s, according to public records. He listed the house in 2005 for $9.5 million, and it has been on and off the market since then with various agents, with its price always increasing, according to the real estate listings website StreetEasy. Mr. Koram renovated the house after taking it off the market a few months ago, Mr. Stafford said.
Mr. Koby said the latest price tag reflects the renovation and the fact that Manhattan prices “have increased dramatically” over the past few years. Plus, while he’s selling because he wants to move to Florida, “I’m in no rush,” he said, adding that he’s rejected other offers for the house, including one for $21 million.
Mr. Koby lives in one of the four apartments in the house. The others—a triplex, a duplex and a one-bedroom—are rented to market-rate tenants, he said, but the house could be delivered vacant. Built around 1904, the building measures about 8,200 square feet, with 12 bedrooms, Mr. Koby said. It has a garden, a roof deck and a terrace.
Asked if the price increase could deter potential buyers, Mr. Stafford pointed to the lack of inventory of multiunit buildings on the Upper East Side and said “I don’t think it’s going to stop people from coming to look.”
This article originally appeared on The Wall Street Journal.
Follow Mansion Global:Facebook | Twitter | Instagram | LinkedIn | Messenger
Write to us: firstname.lastname@example.org