Details regarding the sale of Harlem’s famed Bailey Mansion at 10 St. Nicolas Place emerged this week. The property, which went into contract in late July and saw a deed transfer Aug. 19, sold at almost 90 percent below its original asking price. The mansion originally went on the market at the end of 2008 for $10 million, and had its price slashed to $3.5 million sixth months later. The mansion, which is reportedly in need of a significant restoration, eventually sold for $1.4 million in a cash transaction. Stribling & Associates handled the transaction. The Bailey Mansion had been the home of Barnum & Bailey entrepreneur James Bailey. The 12-room property’s interior was designed by Joesph Burr Tiffany. [WSJ] and [Curbed] and
Bailey Mansion sells for almost 90 percent below original asking price
September 01, 2009 02:51PM
