The Real Deal New York

Art dealer’s UES townhouse is back on the market after a $5M price chop

Martin Zimet has been trying to sell the five-story home since 2014
By Erin Hudson | October 27, 2018 10:00AM

The Sherman M. Fairchild Mansion is once again seeking a buyer.

The five-story townhouse at 17 East 65th Street has been on and off the market since 2014, when it was initially listed for $40 million. As recently as 2017, the townhouse was relisted with the same asking price, until this fall when art dealer Martin Zimet of French & Company cut the price to $35 million.

The five-bedroom home has been Zimet’s residence since 1970. Zimet told The Real Deal last year he is selling because the home does not have an elevator.

“There are no secrets, there are no problems. There’s no mortgage on the house and never has been,” he said.

The International Style house was designed by architects William Hamby and George Nelson for serial entrepreneur Sherman Fairchild, who launched about 70 companies and amassed a $200 million fortune through his inventions and enterprises. Built in 1940, the home contains a three-story “great room” covered by a roof of skylights, and moving through the 9,440-square-foot abode involves traversing a system of ramps.

A string of brokers have attempted to sell the townhouse. Among their ranks are Jared Seligman, who is now at Stribling & Associates, Paula Del Nunzio of Brown Harris Stevens, and The Corcoran Group’s Leighton Candler and Randy Baruh.

Régis Roumila of Christie’s International Real Estate is now handling the listing.