Historic UES mansion hits market for $52M

Fifth Avenue mansion home to the American Irish Historical Society

991 5th Avenue (Photos via Gryffindor/Wikipedia Commons and the American Irish Historical Society)
991 5th Avenue (Photos via Gryffindor/Wikipedia Commons and the American Irish Historical Society)

A Fifth Avenue mansion built around 1900 is set to hit the market for $52 million.

The five-story, 25-foot-wide property is owned by the American Irish Historical Society, which purchased it in 1936, according to the Wall Street Journal.

Read more

Michael Price and 20 East 78th Street (Getty, Google Maps)
New York
Billionaire's townhouse sale is a window into pandemic-era luxury deals
Ron Perelman and 36-38 East 63rd Street (Getty, Google Maps)
New York
Ron Perelman shopping side-by-side Upper East Side homes for $75M
Vince Viola and 8 Montague Terrace (Getty; Google Maps)
New York
Vince Viola’s $25.5M mansion sale breaks Brooklyn record

A spokesperson for the organization told the Journal they had decided to sell the property at 991 Fifth Avenue “in order to best enable the Society to pursue its cultural and scholarly mission in a sustainable manner.”

The mansion features wooden floors, interior columns and a terrace overlooking Central Park. It is one of the few Upper East Side homes from the Gilded Age still in existence, and it underwent a renovation beginning in 2006.

Sign Up for the undefined Newsletter

“The materials with which it’s made are basically no longer available,” said listing broker Paula Del Nunzio, of Brown Harris Stevens.

Mary A. King, the home’s original owner, was the daughter of New York governor John A. King.

The property was later owned by Carnegie Steel president William Ellis Crey, who left it to his son after he died in 1934.

Manhattan’s high-end market has struggled as a result of the pandemic, but the final quarter of 2020 saw the return of buyers. However, price discounts have reached their highest level in a decade, according to a recent report.

In October 2020, billionaire Ron Perelman listed two connected townhouses on East 63rd Street for $75 million.

[WSJ] — Sylvia Varnham O’Regan