After his $50 million golf venture on the Caribbean island of Anguilla went spectacularly awry, Robert F.X. Sillerman told the New York Post, “I think I have shown conclusively I’m not knowledgeable enough about the real estate business.”
Poor judgment in the West Indies aside, we’re betting that the music industry Renaissance man—Mr. Sillerman’s business interests range from the concert promoting titan that became Live Nation to Elvis’s old Graceland estate—will do a lot better with his latest purchase: a $12 million limestone townhouse on the Upper East Side.
The five-story, 18.5-foot-wide home was sold by HBO CEO Richard Plepler, who was not easily parted with the townhouse. After buying 151 East 72nd Street for almost $8.2 million in 2002, he got greedier than a Valyrian slave trader and tried to double his money by asking $18.5 million in 2008. While he may have had some takers a year earlier, Lehman Brothers declared bankruptcy not a week later, prompting his broker, Jaar-Mel Sloane of Sloane Square, to pull the listing a short time after. Read More