Irish investor’s UES townhouses part of global property sale

TRD New York /
Apr.April 29, 2011 10:47 AM
Derek Quinlan and 20 East 64th Street

The five-story Upper East Side townhouse that’s been on and off the
rental and sales market the last five years was finally sold, the Wall
Street Journal reported. The townhouse at 20 East 64th Street belongs to
Derek Quinlan, an Irish investor who snapped up several high-profile
Manhattan properties during the boom years earlier in the decade. Now
Quinlan owes hundreds of millions of dollars, according to the Journal,
and he’s holding a fire sale of his global assets, including another
home at 54 East 64th Street he purchased for $18.7 million. In 2006,
Quinlan rented the home at 20 East 64th Street for $90,000, and in March
he put the home back on the market
for an asking rent that was available “upon request.” Now the
25-foot-wide mansion was finally sold. The terms were undisclosed, but
Quinlan listed the property for $29.5 million after paying $26.2 million
for it in 2005. Quinlan will now focus his attention on his remaining
properties, including the home at 54 East 64th Street, which he first
put on the market in 2008 with a $36 million asking price
and is now listed for $25 million. The investor also owns several
pricey hotels and commercial towers in London and Eastern Europe. [WSJ]

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Data Book 2020 Promo

Coming soon: The Real Deal’s 2020 Data Book

Macklowe selling out of Midtown tower, Brooklyn lawmaker wants to rewrite federal housing rules

Macklowe selling out of Midtown tower, Brooklyn lawmaker wants to rewrite federal housing rules

A rendering of  280 Meeker Avenue CW Realty Management CEO Cheskie Weisz (CW Realty Management)

CW Realty to bring mixed-use project to troubled Williamsburg site

From left: Luise Barrack, Jonathan Mechanic, Jay Neveloff, and Robert Ivanhoe (Illustration by Hannah Drossman)

Sizing up NYC’s real estate law firms with the highest attorney headcounts

Martha Stewart

Design it the Martha Way: Martha Stewart to brand real estate developments worldwide