Joshua Harris, the co-founder of private equity firm, Apollo Global Management, has bought the Dommerich Mansion for the second-highest price ever paid for a New York townhouse.
Joshua Harris, the co-founder of private equity firm, Apollo Global Management, has bought the Dommerich Mansion for the second-highest price ever paid for a New York residential townhouse.
And it appears that Harris might have bought himself a bargain: while he paid an eye-watering $68 million (US$52 million) for the 100-year old mansion on New York's Upper East Side, the property was originally listed for $94 million ($US 72 million).
Dommerich Mansion. Image: Cary Horowitz, Brown Harris Stevens.
The price is the still the second highest ever paid for a New York City residential townhouse, agent Paula Del Nunzio of Brown Harris Stevens told the Wall Street Journal.
The 2,000sqm (20,000 square foot) mansion is located in a prime location on 69th street between Madison Avenue and Park Avenue.
The mansion includes a spiral staircase 22-foot in diameter, the original elevators, and 15-foot ceilings. A stained -glass dome illuminates the central stairwell, and there is also precious outdoor space: a second-floor terrace, and roof terrace with views of Fifth Avenue and Central Park.
The mansion was built in 1917, on the site of two demolished Victorian houses for cotton mogul, Otto Louis Dommerich, and was eventually sold and used as a school of social science. The building last changed hands in 1980, when James W Smith Jr bought it. He transformed the building into an outpatient plastic surgery facility, the Center for Specialty Care. The Mansion has only changed hands three times in its 100-year history.
Read more about the world's most valuable real estate:
The most expensive house in the world is for sale
Vaucluse mansion hits the market with $70m price tag
The most expensive house for sale in the US is the former set of 'The Beverly Hillbillies'