How much can you get for a hollow townhouse?

Thursday, 10 Jan 2013 01:12 PM

A hollow townhouse, without a back, is in contract for nearly $19 million. Let’s take a look at the 21-foot wide front façade. The quite pretty limestone trim and decent marble façade makes an impression that the townhouse should be in a mint condition. Well, in case of 12 East 82nd Street that is not the case. The back is missing, the rain goes right thorough it, neighbors need to put up flowers in their windows in order not to see the ugly mess. The back has been missing for nearly three years.

Nevertheless the landmarked townhouse of the Upper East Side found a buyer for almost the ask price. The yet current owner, Janna Bullock, a developer from Russia, bought the house in 2006 for $14 million and had great plans renovating the building. That included a complete renovation of its back. After ripping off the back, Janna Bullock though lost interest in the building and put it on the market. 

The condition described in the listing: “As is”. Sounds like a broken product but in this case the building has lots of potential. It’s just a half block from Central Park and has a 102-foot deep and 21-foot wide lot.

The building was built in 1903 and has five floors. It has an elevator and a laundry room.

Nikki Field of Sotheby’s International Realty brokered the deal. Do you mean “international”?