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

It closed for $21.5M

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
Wyoming ranch with ties to Walt Disney hits market for $71M
Wyoming ranch with ties to Walt Disney hits market for $71M
Wyoming ranch with ties to Walt Disney hits market for $71M
Seattle Hotel Group's Bruce McCaw and property at Hunts Point, Washington (Getty, Windermere Real Estate)
Bruce McCaw’s Northwest estate hits the market at record-setting price
Bruce McCaw’s Northwest estate hits the market at record-setting price
Extell's Gary Barnett and 217 West 57th Street (Barnet by Paul Dilakian, Itrytohelp32, CC BY-SA 4.0, via Wikimedia Commons)
Barnett: Central Park Tower will fall short of $4B sellout
Barnett: Central Park Tower will fall short of $4B sellout
From left: Extell's Gary Barnett and JDS Development’s Michael Stern along with One Manhattan Square, The Narrows, and 111 West 57th Street (Extell, JDS Development, Getty Images, The Narrows Condo)
New development sales plummeted 30% in July
New development sales plummeted 30% in July
Zillow's Rich Barton, Allen Parker (Zillow Group, Getty)
Zillow brushes off Citysnap threat, says agent advertising will fall
Zillow brushes off Citysnap threat, says agent advertising will fall
Douglas Elliman Chairman and CEO Howard Lorber (Getty Images)
Sell, sell, sell: Lack of listings dampens Elliman earnings
Sell, sell, sell: Lack of listings dampens Elliman earnings
Zillow's Rich Barton and Opendoor's Eric Wu (Zillow Group, LinikedIn, Getty)
After iBuying debacle, Zillow partners with Opendoor
After iBuying debacle, Zillow partners with Opendoor
Redfin CEO Glenn Kelman (Illustration by Priyanka Modi for The Real Deal with Getty)
Redfin’s losses swell to $78M in Q2
Redfin’s losses swell to $78M in Q2
arrow_forward_ios

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

Loading...