(Somewhat) Long-Suffering Upper East Side Mansion Asking $21M Enters Contract

Monica Gerard-Sharp and Ali Wambold. (Patrick McMullan)

Monica Gerard-Sharp and Ali Wambold. (Patrick McMullan)

It’s true that the 7,500 square-foot townhouse mansion at 26 East 80th Street sat on the market–on and off–for more than four years, listing first with Sotheby’s International Realty, for $18.5 million, then with Brown Harris Stevens, for a million less than that, and finally with Cornelia Zagat Eland, of Stribling, for $21 million. But given that the home, which was built by the sought-after architect-developer Charles Graham, has been around for nearly 130 years, that interval seems like a proverbial drop in the bucket. And according to the broker’s website, the place has finally found a buyer, entering contract at the highest of its asking prices.

If Ms. Eland managed to land a buyer willing to get close to that very respectable figure, the sellers, Monica Gerard Sharp and Ali Wambold–a former big shot at Lazard–will no doubt be glad of their patience. (To sell the home for that low, low price of $17.5 million, though, wouldn’t have been such a terrible tragedy, especially in light of the fact that the couple bought it for just $2.65 million back in 1994.)

It's good for art!

It’s good for art!

Once the home of an art gallery, the brick and brownstone edifice acquired Landmark status in 1978, and has since gone through two renovations, the second of which was initiated to repair damage from a fire next door and included the addition of a rooftop garden. In downsizing mode in 2012, the sellers picked up a two-bedroom co-op at echt-hoity toity 1 Sutton Place South, and we can see why, with their children leaving the homestead, the place on East 80th began to seem to them like an awful lot of house.

Twenty-three feet wide, it sports 12-foot ceilings, six bedrooms and no fewer than seven wood burning fireplaces. The aforementioned renovations have left things looking neat and well-tended, but faithful to history; there’s still plenty of molding and hard wood, as well as an ornate, heavily-pillared banister in the entryway. As of June, there will also, apparently, be an elevator, according to the listing. The buyers’ after all, have surely worked long and hard to ensure that they needn’t walk up their own darn stairs!

And nature, too!

And nature, too!

(Somewhat) Long-Suffering Upper East Side Mansion Asking $21M Enters Contract