West Village townhouse owners scrap RFP, list for $15M

“Substantial” demand was expected but did not pan out

TRD New York /
Sep.September 30, 2013 05:20 PM

The owners of a prewar West Village townhouse, having failed to sell the multi-family property through a request for proposal process last year, have relisted the 7,000-square-foot building in a more conventional fashion, asking $14.65 million.

The four-story, nine-unit townhouse at 70 Bank Street was built in 1837 and is 25 feet wide, StreetEasy shows. James Nelson and Mitchell Levine of Massey Knakal Realty Services have the listing. Neither was immediately available for comment.

The townhouse, located in the West Village landmark district, is primed for conversion. If converted, the home could be worth around $30 million and would have room for a rooftop deck with panoramic views of the Village, the listing says.

In June 2012, Chris Havens, the director of commercial property at aptsandlofts.com, listed the building for $17 million and launched a dedicated website to sell it through a request for proposal process for potential purchasers. The owner subsequently dropped the price to $14.9 million in July 2012 and delisted it for unspecified reasons in October 2012, StreetEasy shows.

The sellers opted to use a RFP procedure “to simplify the sale, minimize impact on the building and the seller and to provide an orderly and transparent process,” documents on the website said. “Demand is expected to be substantial.” The sellers offered a 2 percent commission to the buyer’s broker, documents said.

The RFP deadline at the time was Sept. 30, 2012, and the seller planned to close the sale that year, the website says. Havens declined to comment on the RFP process or the new listing.

A Rye, N.Y., couple has owned the building since 1991, city property records show, though the property has been in the same family for four generations, the RFP site said. The owners have been renting out the units, with the most current rental listings averaging $3,500 per month, StreetEasy shows.


Related Articles

arrow_forward_ios
 Jennifer Lawrence and 17 Jane Street with Edward Minskoff (Getty; Sciame Construction)

Jennifer Lawrence buys at Ed Minskoff’s West Village condo

Jennifer Lawrence buys at Ed Minskoff’s West Village condo
90 Morton Street (Photo via Streeteasy)

West Village condo has the week’s priciest two resi deals

West Village condo has the week’s priciest two resi deals
Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

Marc Jacobs gets what he paid for West Village pad: $10.5M
Hovnanian Enterprises CEO Ara Hovnanian and 292-294 West 4th Street

Big names, big properties, big price: $26M for Village homes

Big names, big properties, big price: $26M for Village homes
Andrea Soros Colombel and 243-245 West 4th Street (Credit: Google Maps, iStock)

Contractor alleges George Soros’ daughter asked him to deceive city

Contractor alleges George Soros’ daughter asked him to deceive city
110 Leroy Street (Credit: Google Maps)

Atlas Capital buying West Village building for $80M

Atlas Capital buying West Village building for $80M
255 West 11th Street with Liv Tyler and 49 East 67th Street  with Thomas and Ann Unterberg (Credit: Getty Images and Google Maps)

Here’s what sold in NYC’s luxury home market last week

Here’s what sold in NYC’s luxury home market last week
 2 Bank Street and Alan Stillman (Credit: Getty Images, Lee & Associates)

Smith & Wollensky owner signs lease for new eatery in West Village

Smith & Wollensky owner signs lease for new eatery in West Village
arrow_forward_ios

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

Loading...