Thomas Wexler won’t be paying any commission on the $8.2 million sale of his townhouse at 135 East 91st Street. As they used to say about the Hair Club for Men, Mr. Wexler is not only a client, he’s the broker, too, a senior vice-president at Corcoran, no less, one who happens to specialize in townhouses.
And specialize he does: Mr. Wexler made a nice chunk of change on the Carnegie Hill five-bedroom, flipping it for more than twice the $4 million he paid in 2007. Yet being a specialist can come with its risks, too: Mr. Wexler had the audacity to list the home only a year after he purchased it for $12.5 million.
It looks like he had to wait for another gaga market to come along in order to sell it.
After a three-year hiatus, Mr. Wexler brought the property back on the market in 2011, having waited out the recession and realizing his hopes of tripling his money were in vain, asking $9.7 million. After a number of price cuts, it was whittled down to to $8.7 million.
The house does have some awesome features, like what the listing claims is the only detached garage in Manhattan “an added convenience that can only be described as priceless.” Well, maybe not priceless.
Mr. Wexler and wife Julia, who list their address as Irvington, N.Y., on the deed (we hope they at least enjoyed the house a little while they were paying all the taxes on it!), sold the home to CMI Residence LLC.
If the new buyers don’t try to double their money with a fast flip like the deliriously-confident owners of 122 East 72nd Street, they’ll enjoy a beautifully-restored space with Tiffany stained glass lamps and eight wood-burning fireplaces. The historic house was built in 1885 by Jacob Ruppert, as a wedding gift for his daughter. So much nicer than a silver tea set.
kvelsey@observer.com