Multimillion-dollar UES townhouse sells at a discount of more than 40 percent

April 02, 2012 01:00PM

An Upper East Side townhouse once listed at $18.7 million has sold, to Wui Yen Liow, a principal at Ziff Brothers Investments, for $11 million, the New York Observer reported.

The six-story, six-bedroom home, at 59 East 77th Street, between Madison and Park avenues, will be used as a private residence, according to the listing agents, Thomas Wexler and Lisa Fitzig at the Corcoran Group.

The sellers were telecommunications entrepreneur Kent Charugundla and his wife Marguerite, the Observer said. The paper notes that they purchased the townhouse for $6.8 million in 2004. The deal made The Real Deal’s broker chart last Friday. [NYO]