Won’t anyone buy this Upper West Side mansion?
3 Riverside Drive down to $13M ask after another price cut
The selling saga of an Upper West Side mansion is rolling along with another price cut for the landmarked townhouse.
The asking price at 3 Riverside Drive was reduced to $13 million last week. It marked the second cut in listing price for the home since it came back on the market for $16 million in April, down $9 million from a year earlier.
The mansion offers plenty to like, including river views, modern amenities and limestone features designed by famed architect C. P. H. Gilbert. But any buyer will need to finish renovations that have proven too much for two previous owners, a process going on three decades.
The 37-foot-wide Kleeberg Residence, built between 1896 and 1898, has been undergoing renovations since 1995, the New York Times reported. Broker and developer Regina Kislin and her husband, Anatoly Siyagine, bought it that year for less than $10 million.
The mansion was split into separate apartments, but Kislin embarked on transforming it back into a single-family home after it fell into disrepair. After nearly 17 years of work, Kislin listed the property for $40 million in 2012. It sold at auction five years later to an LLC for $15.8 million.
Two years later, it was back on the market again, this time for $25 million. In April 2021, it reappeared on the market at the same price, before it was reduced to $22 million in December 2022 and $16 million in April.
The plans call for an 18,000-square-foot home with eight bedrooms, five terraces, an Olympic-size marble pool, a movie theater with stadium seating, a spa, a gym, a basketball court and a game room.
The nine-floor, Gilded Age home’s plans are fully approved by the Landmarks Commission and Department of Buildings. Excavation under the current owner has proven to be “extremely costly,” however, as the owner has looked to make room for the amenities by extending the 12,000-square-foot above-ground structure with another 6,000 square feet below.
The marketing of the property could be in line for another big development soon; the listing ominous calls for all offers by Feb. 28. It’s not clear what will happen when that day comes.
Compass’ Ian Slater, who had the listing, was not immediately available for comment.