The Real Deal New York

Forbes exec sells West Village townhouse for $11.5M

December 10, 2012 03:00PM
By Zachary Kussin

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60 West 11th Street and Timothy Forbes

Timothy Forbes, son of publishing bigwig Malcolm Forbes and chief operating officer of the family’s eponymous publishing empire, has sold his townhouse at 60 West 11th Street in the West Village for $11.5 million, according to public records filed today. The home, located between Fifth and Sixth avenues, hit the market over the summer with a $12.5 million asking price.

Chris Infante, Paul Kolbusz and Sara Gelbard of the Corcoran Group had the listing, which says the home was built in 1842 as one of a pair and has since been restored. The single-family townhouse has five bedrooms, 3.5 bathrooms, six fireplaces and a garden with its own fountain. The home also has a temperature-controlled wine cellar and an integrated two-floor sound system.

The Corcoran team declined comment.

Forbes purchased the 3,700-square-foot home in August 1987, although the price he paid at the time does not appear in public records.

The purchaser is listed as 60 West 11th Street LLC. Beyond that, the identity of the purchaser was not immediately available. The sale went into contract on Sept. 21 and closed on Dec. 4, records show.

As The Real Deal reported, Forbes joined the company in 1986 and was formerly an independent producer and screenwriter.

A townhouse formerly owned by Malcolm Forbes located nearby at 11 West 12th Street found a buyer earlier this year, The Real Deal reported. Icon Realty Management paid $7.25 million for the property — a 52 percent discount over the asking price.

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