Milbank Mansion closes for $49M

The 22,000 square foot Milbank Mansion at 14-16 East 67th Street, one of Manhattan’s largest private homes, has closed for $49 million, according to city records. As first reported by the Post, Philip A. Falcone, senior managing director at Harbinger Capital Partners, bought the 27-room home, once owned by Penthouse magazine founder Bob Guccione. The six-story, 48-foot wide mansion was combined from two separate townhouses in 1920 by financier and philanthropist Jeremiah Milbank. It features the original grand ballroom, indoor swimming pool, gymnasium, terraced gardens and Carrara marble staircase. The property, which reportedly had a $59 million asking price, fell short of breaking the city’s townhouse record of $53 million, set by a 25,000-square-foot Home On East 75th Street bought by investment banker J. Christopher Flowers in 2006. The record could be broken soon by the 15-bedroom Henry Sloane Mansion on East 68th Street, which has an asking price of $64 million. TRD