Historic Chelsea Townhouse on the market for $21M

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A historic Chelsea townhouse formerly owned by actress and diving instructor Frances Gaar is on the market for $21 million. The five-story, 10,000-square-foot brick and marble mansion at 436 West 20th Street, upon which plans for a rooftop extension are pending, was built in 1835 and has been home to a number of performers, like actress Glenn Close, who rented apartments from Gaar over the years. Before her death last year, Gaar, who paid $12,000 for the home in 1962, sold it to developers Michael Bolla and Michael Daniel. The sale’s proceeds went to a trust for the Actor’s Fund, which helps performers in need, and the developers promised Gaar that they would preserve the home. Bolla said his renovations will be completed by December, but that he is prepared to divide the property into luxury rental apartments in case he cannot find a buyer. [NYT] 

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