The Real Deal New York

Philip Lehman Mansion sells for $40M

November 05, 2013 04:55PM

A six-story commercial townhouse known as the Philip Lehman Mansion has changed hands for $40 million, according to the Corcoran Group and Jones Lang LaSalle, which brokered the deal.

An unnamed buyer snagged the landmarked 20,000-square-foot property at 7 West 54th Street, between Fifth and Sixth avenues. It hit the market as a sale and a rental in February, shortly after owner Lehm Holdings finished a $20 million renovation to restore the property to its original 19th century grandeur, as The Real Deal reported. It features copper-framed ocular windows, French doors and a bowed-stone balcony.

Corcoran broker Shari Scharfer-Rollins represented the buyer, whom the firms declined to name, while JLL’s Aaron Ellison and Corcoran’s Carrie Chiang represented Lehm.

The property was constructed in 1889 for Philip Lehman, the son of Lehman Brothers co-founder Emanuel Lehman, and his wife – and landmarked in 1981. Architect John H. Duncan designed it in the French Beaux Arts style. — Mark Maurer