A lavish townhouse on the Upper East Side with an Hermès leather-lined billiards room returned to the market Wednesday with a $5 million discount, but its price remains sky high.
The 14,700-square-foot mansion is now asking $79.5 million, making it the priciest listing on the Upper East Side, according to listing records, and the third-most expensive listing in New York City. Itfirst hit the market in February 2016 for $84.5 million and that listing was removed in October, listing records show.
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The home is owned by Keith Rubenstein, founder of real estate investment firm Somerset Partners, and his wife, Inga. The couple bought the property in 2007 for $35 million and have since transferred ownership to a limited liability company, property records show.
Along with a price cut, the house changed brokerages, from the Modlin Group to Douglas Elliman, where it’s now being represented by Richard J. Steinberg, Matthew Slosar, Alexander Mignogna and Lauren Keegan.
The reason for the price cut is very simple, Mr. Steinberg said. "We’re reacting to the market," he said. "It’s not a secret that very few houses sold last year for above $50 million. We want to position ourselves properly."
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Built in 1903, and located close to tony Fifth Avenue, the limestone building was designed and built by John H. Duncan, the architect of Grant's Tomb. "I've been selling real estate for 27 years and I think the scale of this house and the proportion of the rooms surpasses many houses I've sold," Mr. Steinberg said.
It has six bedrooms, including a full-floor master suite, a marble staircase, a library with custom millwork, a ventilated smoking room, a lighted handbag display and a temperature-controlled vault for fur, a basement spa with a massage room, sauna, plunge pool, gym, a wine cellar and a rooftop terrace, according to the listing.
The highest townhouse to sell in the city this year was a $41 million spread on nearby East 73rd Street.