Gilded Age mansion hits market for $48M

By Katherine Clarke | November 29, 2012 01:00PM

A Gilded Age mansion at 57 East 64th Street has hit the market asking $48 million. The 14,000-square-foot Beaux Arts residence, which has served as the Kips Bay Decorator Show House, came on the market today, shows. It is listed by Beverly Cole of Key Ventures.

The seven-story home, designed by architect C.P.H. Gilbert, was previously owned by a famous Italian clothes designer, according to the listing; the identity of the designer was not immediately clear. The home has been owned by the same entity, Valan Realty, since 1995, records show. The owner purchased it for $6.39 million at the time.

The house was renovated between 1995 and 2000 by the designer, who previously used the property as a location for fashion shows and as a corporate office, the listing says.

A call to the owner’s attorney, Maurizio Ameri of Funaro & Co., was not immediately returned.

The building, which features a sweeping staircase, seven wood-burning fireplaces and a six-passenger elevator, is being promoted as ideal for a hedge fund, an embassy, a foundation, a gallery or as a single-family home, the listing says. The property is also available for lease, although the asking rent was not immediately available.

Cole did not immediately respond to a request for comment.

According to a 1995 story in the New York Times, the 23rd annual Kips Bay Decorator Show used the home as its show house. It was known at the time as the Allene Tew Nichols House.