Irish investor’s UES townhouses part of global property sale

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

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
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
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
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Thor Equities Group Chairman Joseph J. Sitt. (Thor)
Thor facing foreclosure on Harlem rental building
Thor facing foreclosure on Harlem rental building
Ryan Serhant and Jolie on Greenwich. (Jolie, Getty)
Serhant goes to the dogs for 77 Greenwich rebranding
Serhant goes to the dogs for 77 Greenwich rebranding
Steve Cohen and One Beacon Court at 151 East 58th Street (Corcoran, Getty)
Manhattan luxury market sees best week since 2013
Manhattan luxury market sees best week since 2013
2 Bank Street (Google Maps, iStock)
Pizzeria featured in “Eat Pray Love” signs lease in Greenwich Village
Pizzeria featured in “Eat Pray Love” signs lease in Greenwich Village
Solow Building Company chairman Stefan Soloviev, CEO Michael J. Hershman and vice chairman Hayden Soloviev (Solow Residential, Fairfax, LinkedIn)
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...