The Real Deal New York

Townhouse built for Douglas Elliman – the person – sells

Upper East Side home constructed in 1909 goes for $14.8M

September 18, 2014 02:44PM
By Zachary Kussin

Listing images of 177 East 71st Street

Listing images of 177 East 71st Street

The Upper East Side townhouse that was built for Douglas Ludlow Elliman, the founder of the eponymous real estate brokerage, has traded hands in a $14.8 million deal, according to today’s property records. The spread, located at 177 East 71st Street, most recently asked $15 million.

The architect, S.E. Gage, built the townhouse in 1909 for Elliman and wife, Theodora, as previously reported. Two years later, Elliman opened the brokerage on Madison Avenue. It is now the city’s largest brokerage.

Pamela D’Arc of Stribling & Associates listed the six-story property in April for $16.6 million. In June, the price slipped to $15 million before entering contract.

The eight-bedroom home stands 20 feet wide between Third and Lexington avenues and measures 6,700 square feet, according to the listing. It comes with a gym, movie theater, a roof deck and seven fireplaces. There are also six full bathrooms and three half bathrooms.

“It is a lovely and gracious home,” D’Arc said.

Brown Harris Stevens listed the home last September for $18.3 million, but took it off the market in March after dropping the asking price to $17.4 million. A brokerage spokesperson did not have immediate comment.

Steven and Lynne Foote are listed as the sellers, but they could not be further identified. They bought the home for $9.5 million in 2006, according to records. The purchaser acquired the home under an LLC and could not be immediately identified.

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