This 19th century UES townhouse just traded hands for a loss

It closed for $21.5M

TRD New York /
Apr.April 19, 2019 08:00 AM

51 East 80th Street (credit: Google Maps)

An Upper East Side townhouse that dates back to 1883 just sold for $21.5 million.

The seller, who paid $23.5 million for the property at 51 East 80th Street in 2014, took a loss on the deal. The townhouse was sold by North Fifth LLC, with Richard Gold as a managing member, according to records filed with New York City’s Department of Finance. Gold is an executive at private investment firm General Atlantic.

The buyer is Perranporth Inc. Andrew Ryan, an attorney at Brooklyn’s The Ryan Law Group, is the signatory and didn’t immediately respond to request for comment. Perranporth is the name of a town on the Atlantic coast in England.

Built in 1883 by Scottish architect John Jardine for developer Edward Kilpatrick, the 8,950-square-foot, 23-foot-wide brownstone has five bedrooms and 4.5 bathrooms, and boasts an elevator and a wood-burning fireplace. The listing noted the home underwent a 3-year restoration.

Like the condo market, townhouse sales have also slowed. The first quarter saw $665 million in deals, down 18 percent from $816 million a year earlier, according to a Leslie J. Garfield report. Sales volume on the UES tumbled 23 percent while the average sales price falling 18 percent to $14.48 million.

But the market may be picking up, the report noted, thanks to an uptick in properties going into contract. In the first quarter, 10 townhouses were in contract, compared with five a year earlier.

Update: This story has been corrected to remove reference to Corcoran’s Leighton Candler, who was not the listing agent for this sale.


Related Articles

arrow_forward_ios
Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

40 East 72nd Street and Spiros and Antonia Milonas (Credit: Getty Images, iStock)

“Officially out of money”: Upper East Side condo in disarray

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Lee Radziwill and her home at 160 East 72nd Street (Credit: Getty Images, Brown Harris Stevens)

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

arrow_forward_ios