Malcolm Forbes’ townhouse returns to the market asking $29M

After an extensive renovation, a home once owned by the family of the late publisher Malcolm Forbes is back on the market for $28.5 million.

Forbes, the late chairman and editor in chief of Forbes magazine, bought the Greek revival townhouse at 11 West 12th Street in the early 1960s for entertaining celebrities and dignitaries, the Wall Street Journal reported. Developers Todd Cohen and Terrence Lowenberg of Icon Realty Management [TRDataCustom] purchased the home in 2012 for $7.25 million and have since gutted and modernized the building.

The home was previously connected to 60 Fifth Avenue — the former Forbes headquarters — but the current owners separated the properties. The townhouse spans 9,600 square feet and features a home theater, a sauna and a gym. Compass’ Kyle Blackmon and Leonard Steinberg are handling the listing. [WSJ] — Kathryn Brenzel