Last freestanding UWS mansion relisted with new broker, sizable price cut

New York /
Nov.November 01, 2011 02:36 PM

Manhattan’s last existing freestanding single-family mansion, the Schinasi House at 351 Riverside Drive on the Upper West Side, has been relisted today after several years of moving on and off the market, according to data from Streeteasy.com, but with two differences. Owner and Columbia University professor Hans Smit has switched up brokers, swapping Felise Gross and Diane Abrams of Brown Harris Stevens, who have had the listing since 2006, for Tod Mercy, an agent at the Corcoran Group, and slashing the price significantly. 

The property, which was initially listed for $31 million in 2006, then $30 million in 2007 and $25 million last year, is now asking only $14.95 million, a veritable bargain for a 41-foot-wide house with 12,000 square feet of interior space and 3,400 square feet of exterior space.

“I think it’s priced very fairly now,” said Mercy, a friend of Smit and his wife who had been hoping to take a stab at selling the property for some time. “My goal would be to sell it in the next six to nine months.”

The price played a large part in the property languishing on the market for the last seven years, Mercy said.

[The property] “is exquisite,” he said. “It’s this renaissance palazzo, but it’s going to take someone with vision who is ready to dedicate themselves to it. Anyone who moves in is going to want to update rooms and bathrooms.”

As for the switch in representation, Mercy said the owner wanted some fresh blood on the project: “I can’t speculate exactly… but there was really nothing scandalous,” he said.

A lot of work has already gone into the four-story house at 107th Street, which was designed in 1909 by Carnegie Hall designer William Tuthill. Smit has been slowly restoring it, Mercy said, ever since purchasing it from Columbia University for $325,000 in 1979, according to public records. The home is currently occupied by Smit’s son and his family and has been featured in various films including Woody Allen’s 1994 film “Bullets Over Broadway.”

Mercy said he already has some interest in the property, but declined to provide further information.

“I’d rather keep it all pretty vague at this stage,” he said.

As The Real Deal previously reported, it was at one point thought that the mansion could set a record price. Last March, billionaire Henry Silverman set the townhouse record for the Upper West Side when he bought 26 West 76th Street for $19.3 million.

Smit, Gross and Abrams were not immediately available for comment.


Related Articles

arrow_forward_ios
Rachel Glazer (Credit: BHS)
BHS’ top Downtown agent jumps to Compass
BHS’ top Downtown agent jumps to Compass
BHS’ chief of tech, communications out amid internal shakeup
BHS’ chief of tech, communications out amid internal shakeup
BHS’ chief of tech, communications out amid internal shakeup
Bess Freedman and Robert Reffkin (Credit: Studio Scrivo)
“Unequivocally not selling:” BHS accuses rival of stoking sale rumors
“Unequivocally not selling:” BHS accuses rival of stoking sale rumors
L-R: Douglas Elliman CEO Scott Durkin, Serhant CEO Ryan Serhant, Brown Harris Stevens CEO Bess Freedman, The Real Deal's Hiten Samtani (Photos by Paul Dilakian)
Top resi execs talk brand building, tech and politics at TRD NYC event
Top resi execs talk brand building, tech and politics at TRD NYC event
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Vanke US, Getty, M18 Public Relations)
With Aby Rosen out, Chinese developer slashes Midtown condo prices
With Aby Rosen out, Chinese developer slashes Midtown condo prices
Matthew Leone, chief marketing officer, Brown Harris Stevens (Brown Harris Stevens, iStock)
Brown Harris Stevens dives into TikTok
Brown Harris Stevens dives into TikTok
A photo illustration of several REBNY award winners (Corcoran, Brown Harris Stevens, Douglas Elliman)
REBNY doles out resi “deal of the year” awards
REBNY doles out resi “deal of the year” awards
Compass' Jeffrey Stockwell, Alan Shake, and Jill Bernard (LinkedIn, IStock)
Compass team heads to Brown Harris Stevens
Compass team heads to Brown Harris Stevens
arrow_forward_ios

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

Loading...