The Real Deal New York

Jumbo $130M River House home pulled off market

Private club strikes deal with co-op board to buy 62,000 sf space

February 03, 2014 04:48PM
By Hiten Samtani

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From left: John Burger, a rendering of the foyer at 435 East 52nd Street. and Kyle Blackmon

From left: John Burger, a rendering of the foyer at 435 East 52nd Street. and Kyle Blackmon

The Residence at River House, which at $130 million is New York City’s priciest home listing, is being taken off the market, The Real Deal has learned. The move comes after the nonprofit River Club of New York, which operates a private club from a five-story, 62,000-square-foot space in the 435 East 52nd Street building, reached an agreement with the building’s co-op board to purchase the space.

“The River Club of New York, Inc. and River House Realty Co., Inc. are pleased to announce that they have signed a letter of intent regarding the River Club’s purchase of the premises that it has occupied since 1931,” the two parties said in a joint statement provided to TRD.

The sale is expected to close early in the summer, the two parties added.

The Art Deco building’s co-op board put the space, which is roughly the size of 10 typical Manhattan townhouses combined, on the market in September, while negotiations between the board and the club were still ongoing. It was being marketed as a palatial home boasting a massive entry foyer, a master suite with river views, a screening room, an indoor pool with a generous deck — and of course, an on-site tennis court.

Brown Harris Stevens superbrokers John Burger and Kyle Blackmon had the listing for the home. Burger told TRD that the duo was “discontinuing our marketing efforts and respecting the letter of intent” between the two parties, adding that he was “delighted that this wonderful New York institution” would continue to exist as a club.

  • Daniel

    The asking price of $130 million for The River Club’s space was a joke. The majority of it is in the interior of the building, with no windows, and in a basement, a sub basement and a sub sub basement. The word out was that “Russians” would be interested, without the obvious sentiment that Russians that make that kind of money are not so stupid to over-pay for such an “apartment.” One might wonder the ethics of brokers who take over priced listings…

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