The Real Deal New York

Thor asks 100 percent mark-up on UES townhouse

March 09, 2012 11:00AM
By Katherine Clarke

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From left: 60 East 66th Street and Joseph Sitt, president of Thor Equities

A neo-French Renaissance-style townhouse property at 60 East 66th Street owned by Thor Equities has hit the market for $20.75 million, more than twice what Thor paid for it in 2010, according to Streeteasy.com.

The five-bedroom, five-bathroom property, the ground floor of which is currently occupied by the Adam Baumgold Gallery, an art showroom selling 20th century, post-war and contemporary art including such artists as Grosz, Magritte, Picasso, Steinberg and Warhol, is listed with Danny Davis, Ginger Brokaw and Patty LaRocco of Town Residential.

“It’s no secret that the townhouse market in the Upper East Side’s most prime locations is stronger than ever, and we have been working closely with leading architecture and design firms on truly magnificent plans for this one-of-a-kind mansion,” said Brokaw, a senior vice president at Town.

A spokesperson for the gallery said she was not sure where the gallery would move if the townhouse finds a buyer, though the gallery has another New York City location at 40 East 75th Street. The terms of its lease were not clear.

Thor purchased the property in 2010 for $9.2 million, according to public records. A part of the townhouse was once owned by power broker Joanna Cutler of Joanna Cutler Real Estate, who marketed it herself at the time as “an ideal opportunity for conversion to a single-family home one block from Central Park and Fifth Avenue,” according to a previous listing. She declined to comment on the new listing price.

Designed in 1906 by Harde & Short and designated a New York City Landmark in 1977, the home features a round-arched entrance and three arched windows at the second story as well as an iron balcony.

Thor did not respond to a request for comment.

  • Dr. Winston

    Totally absurd Price. Joseph Sitt is a principal of Town real estate marketing the house. Town is purposely inflating prices to generate direct customers and demonstrate that they are the new kid in town. Andrew Heidberger has also listed his property at a ridiculous price. This house is worth $12million tops. The better deal is 52 E 66th st asking $9.9m. If you don’t believe me ask Joanna Cutler.

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