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	<title>Observer &#187; A 1,400 Percent Markup at Lucille Roberts&#039; Woolworth Mansion [Updated: Paula Explains the Record Ask]</title>
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		<title>Observer &#187; A 1,400 Percent Markup at Lucille Roberts&#039; Woolworth Mansion [Updated: Paula Explains the Record Ask]</title>
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		<title>A 1,400 Percent Markup at Lucille Roberts&#039; Woolworth Mansion [Updated: Paula Explains the Record Ask]</title>

		<comments>http://observer.com/2011/03/a-1400-percent-markup-at-lucille-roberts-woolworth-mansion-updated-paula-explains-the-record-ask/#comments</comments>
		<pubDate>Mon, 14 Mar 2011 13:39:42 -0400</pubDate>
					<link>http://observer.com/2011/03/a-1400-percent-markup-at-lucille-roberts-woolworth-mansion-updated-paula-explains-the-record-ask/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/4_east_80th.jpg?w=200&h=300" />If the mansions of <a href="/2010/real-estate/deed-aby-rosens-mansion-no-longer-available-langston-hughes-harlem-apt">Aby Rosen</a> or <a href="/2010/real-estate/citys-most-expensive-mansion-sale-again">J. Christopher Flowers</a> do not offer the rich and fabulous enough of an opportunity to make a statement--they are asking $50 million and $40 million, respectively--how about a Gothic limestone castlette asking as much as both combined?</p>
<p>Brown Harris Stevens' Paula Del Nunzio has just brought to market <a href="http://cityroom.blogs.nytimes.com/2011/03/11/big-deal-woolworth-opulence-for-90-million/?partner=rss&amp;emc=rss">Lucille Roberts' old mansion for $90 million</a>, <em>The Times</em> reports. The workout queen, who died in 2003 after building an empire of womens-only gyms, bought the 35-foot-wide home for $6 million in 1995 from an exercise club that barred the fairer sex.</p>
<p>That is quite the price jump, even if <a href="/2011/real-estate/some-good-housing-news-townhouses-back-boom-time-prices">the townhouse market has rebounded nicely</a>. Consider that it is a 70 percent premium over <a href="/2009/real-estate/record-holding-harkness-mansion-bought-53-m-asking-4995-m">Flowers' record-breaking $53 million purchase</a>, a bold, even bonkers, price. Perhaps the sellers, Roberts' family, are short of breath from all that exercise.</p>
<p>According to <em>The Times</em>, 4 East 80th Street is sandwiched between two other massive homes--this one covers 18,000-square-feet--built by dime-store magnate Frank Winfield Woolworth. It is a doosy: "The seven-floor house with elevator includes a paneled library the width of the structure; a formal dining room that can seat 50; a parlor floor with 14-foot-high ceilings; 10 bedrooms, 11 and a half bathrooms; and 3 kitchens."</p>
<p>For those looking for a lighter workout, the home can also be rented for a mere $210,000 a month.</p>
<p><em><strong>UPDATE, 2:38</strong></em> Paula Del Nunzio called <em>The Observer</em> to explain such a high asking price. "A critical point to note is that 4 East 75th Street is the first renovated mansion to be officially on the market," she said. "Whereas all the other mansions that are on the market require a great deal of work, so that explains the different numbers." She added that such a large home could take years to renovate, and there is the matter of finding lodging in the meantime, so a move-in ready mansion really is a rare thing that demands a premium.</p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a> </strong>|<strong> <a href="http://twitter.com/MC_NYO">@mc_nyo</a></strong></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/4_east_80th.jpg?w=200&h=300" />If the mansions of <a href="/2010/real-estate/deed-aby-rosens-mansion-no-longer-available-langston-hughes-harlem-apt">Aby Rosen</a> or <a href="/2010/real-estate/citys-most-expensive-mansion-sale-again">J. Christopher Flowers</a> do not offer the rich and fabulous enough of an opportunity to make a statement--they are asking $50 million and $40 million, respectively--how about a Gothic limestone castlette asking as much as both combined?</p>
<p>Brown Harris Stevens' Paula Del Nunzio has just brought to market <a href="http://cityroom.blogs.nytimes.com/2011/03/11/big-deal-woolworth-opulence-for-90-million/?partner=rss&amp;emc=rss">Lucille Roberts' old mansion for $90 million</a>, <em>The Times</em> reports. The workout queen, who died in 2003 after building an empire of womens-only gyms, bought the 35-foot-wide home for $6 million in 1995 from an exercise club that barred the fairer sex.</p>
<p>That is quite the price jump, even if <a href="/2011/real-estate/some-good-housing-news-townhouses-back-boom-time-prices">the townhouse market has rebounded nicely</a>. Consider that it is a 70 percent premium over <a href="/2009/real-estate/record-holding-harkness-mansion-bought-53-m-asking-4995-m">Flowers' record-breaking $53 million purchase</a>, a bold, even bonkers, price. Perhaps the sellers, Roberts' family, are short of breath from all that exercise.</p>
<p>According to <em>The Times</em>, 4 East 80th Street is sandwiched between two other massive homes--this one covers 18,000-square-feet--built by dime-store magnate Frank Winfield Woolworth. It is a doosy: "The seven-floor house with elevator includes a paneled library the width of the structure; a formal dining room that can seat 50; a parlor floor with 14-foot-high ceilings; 10 bedrooms, 11 and a half bathrooms; and 3 kitchens."</p>
<p>For those looking for a lighter workout, the home can also be rented for a mere $210,000 a month.</p>
<p><em><strong>UPDATE, 2:38</strong></em> Paula Del Nunzio called <em>The Observer</em> to explain such a high asking price. "A critical point to note is that 4 East 75th Street is the first renovated mansion to be officially on the market," she said. "Whereas all the other mansions that are on the market require a great deal of work, so that explains the different numbers." She added that such a large home could take years to renovate, and there is the matter of finding lodging in the meantime, so a move-in ready mansion really is a rare thing that demands a premium.</p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a> </strong>|<strong> <a href="http://twitter.com/MC_NYO">@mc_nyo</a></strong></p>
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