The Real Deal New York

Icon buys Forbes townhouse at 52% discount

April 09, 2012 04:30PM
By Katherine Clarke

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From left: Terrence Lowenberg and Todd Cohen of Icon, Paula Del Nunzio of Brown Harris Stevens and the interior of the townhouse at 11 West 12th Street

The mystery buyer of the Malcolm S. Forbes townhouse in Greenwich Village, which had been on the market since February 2011 and finally went into contract in January, has been revealed as New York-based real estate investment and operating firm Icon Realty Management, according to public records filed with the city today.

Icon, run by 30-something moguls Terrence Lowenberg and Todd Cohen, paid just $7.25 million for the 6,800-square-foot Forbes Management-owned townhouse, between Fifth and Sixth avenues, which had been asking $13.5 million. Its original asking price was $15.25 million, but the property, which was listed by Brown Harris Stevens broker Paula Del Nunzio, failed to attract attention at that price. Icon ultimately bought the property at a 52 percent discount from the original asking price. Del Nunzio was not immediately available for comment on the sale.

The 25-foot wide brick home, at 11 West 12th Street, built in 1847 and purchased in the 1960s by Forbes Magazine founder Malcolm Forbes, was previously owned by Macmillan Publishing Company. The property has played host to hundreds of gatherings, attended by figures such as Margaret Thatcher, Ronald and Nancy Reagan, David Niven, Richard Nixon, Elizabeth Taylor and Paul Volcker, according to the listing.

The property is on a 103-foot lot and can potentially be rebuilt to approximately 8,000 square feet, the listing says.

Neither Icon nor Forbes Management was immediately available for comment.

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    How wonderful for the sellers — too bad we, the neighbors, don’t get a monetary award for living through one of the worst renovations ever. Jackhammering all day long, six days a week, for weeks on end, is the method being used by JNS, the company torturing us. Since the new owners have made our apartments uninhabitable, perhaps they would like to provide a place where can go during the day, equipped with computer and phone lines.

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