UES townhouse up for sale again

October 23, 2008 12:10PM

A 12,000-square-foot, seven-story mixed-use townhouse at 1016 Madison Avenue, between 78th and 79th streets, is on the market for $75 million. The property, owned by W. Graham Arader III of Arader Galleries, was on the market for $58 million in 2007 and $39 million in 2006, but didn’t sell. The townhouse, currently being used as a gallery, has 22 rooms, including 10
bedrooms, and an elevator, and is also suitable for office
space or retail tenant. The property is tied with a 21,000-square-foot townhouse on the market at East 71st Street for the city’s second highest asking price.

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