Real Estate

$80 million townhouse breaks NYC record for most expensive residential sale ever

Hedge fund manager unloads former Penthouse mansion after extensive reno

The New York City real estate market posted a record-breaking sale this week when former hedge fund manager Philip Falcone’s Upper East Side townhouse sold for $80 million – making it the most expensive residential sale in the city ever.

The double-wide townhouse – originally built as two independent structures in the late 1800s – was owned previously by Penthouse magazine founder Bob Guccione, who sold it to the Falcones in 2008 for $49 million.

The property underwent extensive renovations that upped its square footage to nearly 30,000 and added a pool and movie theater, according to a Wall Street Journal article.

Sadly, the deal was handled off-market, so no public listing with interior photos is available to satisfy our urge to gawk at what $80 million worth of real estate riches really looks like.

According to the WSJ, the sale beats the record for the most expensive NYC townhouse ever sold by a landslide, usurping the 2006 sale of a $53 million mansion on East 75th street to financier J. Christopher Flowers.

No word on who the buyer is.

 

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