After sitting on the market for nearly seven years and going through a litany of prices changes, the Upper East Side’s Rothschild Mansion will finally trade for $25 million to an unknown buyer, sources told Bloomberg News.
The Century Foundation, a think tank that analyzes U.S. public policy, had owned the six-story, 11,300-square- foot townhouse since 1958 and will now relocate to the Financial District, according to Derek Newton, a Century Foundation spokesperson.
The property, which is located at 41 E 70th Street, between Park and Madison avenues, was listed by Brown Harris Stevens’ Paula Del Nunzio, who declined to comment to Bloomberg News on the sale. It was originally listed in November 2005 for $25 million where it sat on the market for almost two years. It was briefly taken off the market and relisted with a $35 million asking price in July 2007.
Its price was then lowered three different times over the last two years, until it reached its $25.5million. In December, the owners increased the price yet again to $30 million, but Bloomberg’s sources have confirmed that the property, which went into contract in February, will close at the end of themonth for $25 million.
The home was orginally built for Walter and Carola Warburg-Rothschild in 1929 next door to Arthur and Adele Lehman and boasts two 33 foot deep gardens facing one another, according to Brown Harris Stevens’ listing. [Bloomberg] – Christopher Cameron