Zestimating Guccione’s Block

Zestimate This! Penthouse Founder Bob Guccione’s Former Pad At 14-16 East 67th Street.

Yesterday, The Observer looked at Richard Barton’s new project and whether it should worry Manhattan’s elite brokers. But does it even work?

Let’s try Bob Guccione’s former palace. Since the Corcoran brokers involved wish to keep this a private sale, for serious bidders only, there is no asking price. (However, it was listed at $40 million a few years ago).

For wealthy buyers who are unsure about how much to bid, Zillow offers its easy-to-use Zestimate feature. That is, when the site is running.

According to Zillow, the massive double-wide townhouse at 14-16 East 67th Street is worth $10,690,818! Brokers should have put it up on the market in April, because for some bizarre reason, the townhouse was worth at least $17.3 million.

Next time some Upper East Side broker tries to hustle you, mention Zillow’s claim that “99% of homes in the 10021 ZIP code have a value lower than this home.” Uh huh.

And how does the rest of the tony block, between Fifth and Madison Avenues, stack up with Zillow.

Well, there are three more townhouses currently available on the same block.

Number 7 is asking $34 million, and zestimating at $4,185,693.

Number 10 is asking $32 million, and zestimating at $6,553,963.

Number 9 is asking $29 million, and zestimating at nothing. That is, because a Zillow search retrieves a $500,000 house at “9 67th St, West New York, NJ 07093” instead of the limestone mansion.

Beta, Indeed!

Michael Calderone Zestimating Guccione’s Block