UES townhouse in contract for $19.6M

The Upper East Side townhouse that belongs to disgraced telecom analyst Jack Grubman has gone into contract for $19.6 million, sources told the Observer. The 19th century, 20-foot-wide property at 12 East 81st Street wasn’t officially on the market. It was listed in 2008 for $32 million, and the price was later cut to $28.5 million before it went off the market in August 2009. Grubman and his wife, LuAnne, bought the townhouse for $6.2 million in 1999 in an all-cash transaction. Grubman transferred the property to his wife’s name in 2002, while he was being investigated for shady dealings that resulted in him being banned from the securities industry. He paid a $15 million fine, but was not charged. [NYO]