Keith Rubenstein finally ditches UES mansion for $50M

The sun is finally setting on the Upper East Side mansion listing from Somerset Partners’ Keith Rubenstein.

The developer sold the townhouse at 8 East 62nd Street for roughly $50 million, the Wall Street Journal reported. The identity of the buyer was not disclosed, but the Somerset co-founder told the outlet they are from overseas.

The sale concludes a more than five-year chapter for Rubenstein.

The palatial home first listed in 2016 for $84.5 million. After years going on and off the market, it was re-listed two years ago for $65 million. The last ask on the home was $55 million, marking a roughly 40 percent discount on the home before it sold.

RIchard Steinberg of Douglas Elliman briefly marketed the property between stints by The Modlin Group’s Adam Modlin. At one point, Steinberg claimed that a prospective buyer was presenting a “very good offer,” but Rubenstein wasn’t willing to budge on his asking price.

The sale pencils out to about $3,333 per square foot. That’s roughly $1,000 less per square foot than what the $65 million asking price would’ve commanded. Modlin held the listing.

Read more

New York

The Closing: Keith Rubenstein (VIDEO)

New York

Cosmetics heiress Aerin Lauder sells Upper East Side co-op

New York

Naftali files plans for UES building. Smart money’s on condos

The six-story, 15,000-square-foot limestone mansion includes six bedrooms, eight bathrooms and a rooftop terrace. There’s also a billiards room, smoking room with a ventilation system, wine cellar, massage room, gym and spa with a sauna. Outside, there’s a 2,500-square-foot garden.

Rubenstein and his wife, Inga, bought the home in 2007 for $35 million. They later brought on William Georgis to make extensive renovations to the property.

The home’s new owner likely made the deal by the book, unlike a wannabe squatter who tried his hand at breaking into the mansion five years ago. Spencer Washington hired a locksmith and attempted to get into the home on a Sunday afternoon in 2017. Rubenstein was home at the time and called 911, Washington was arrested and charged with burglary.

— Holden Walter-Warner