Hovnanian closes on 16 West 12th Street townhouse

January 08, 2010 10:05AM

From left: Ara Hovnanian, the townhouse at 16 West 12th Street, and 820 Fifth Avenue, the Hovnanians’ former home (Building photos source: PropertyShark)

Developer Ara Hovnanian and his wife Rachel closed on a townhouse at 16 West 12th Street earlier this week, the Post reported. The home, which was originally listed for $24.975 million early last year, belonged to divorcing couple Luke and Julie Janklow, the Sweetiepie restaurant founder, who purchased it for $4.5 million in 2004. The most recent asking price was $17.9 million. Paula Del Nunzio of Brown Harris Stevens had the listing. The Hovnanian’s sold their 820 Fifth Avenue apartment to socialite and philanthropist Lily Safra last year for $33 million — they were asking $35 million — but not before a $31 milliion bid by Jeff Blau, president of the Related Companies, was famously rejected by the building’s co-op board. [Post]


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