Is the $38M Price Right? Financier Michael Price Lists Security-Heavy Townhouse

He bought the limestone, which reportedly has its own vault-like panic room, from socialite Pia Getty in 2003.

Financier Michael Price and his wife, Jennifer, are saying farewell to their Upper East Side mansion.

Financier Michael Price and his wife, Jennifer, are saying farewell to their Upper East Side mansion. (Photo: Clint Spaulding/Patrick McMullan)

It’s finally time for spring cleaning, though some are doing it on an ever-so-slightly larger scale than others.

Take, for instance, the 8,760-square-foot Upper East Side townhome that financier Michael Price just put on the market for $38 million.  Mr. Price, who runs the hedge fund MFP Investors, and his wife, Jennifer, purchased the limestone and brick manse at 20 East 78th Street in 2003 from socialite Pia Getty, paying $14 million.

Just a casual living room.

Just a casual living room. (Photo: Sotheby's International Realty)

The seven-bedroom, 8.5-bath home has been redesigned by David Easton, and has such features as 12-foot ceilings and hand-carved millwork on the parlor floor, a living room and wood-paneled library each with wood-burning fireplaces, and yet another fireplace in the master suite, which also has two bathrooms, a dressing area, and its own study.

Those ceilings, though.

Those ceilings, though. (Photo: Sotheby's International Realty)

The home has a double-height windowed gallery with a “distinctly European sensibility,” a formal dining room, mud room, and a planted garden with green trellis-clad walls, per the listing, held by Sotheby’s International Realty broker Serena Boardman. There’s also a south-facing terrace and a basement with a wine cellar and a gym.

But after thirteen years, the Prices are ready to let someone new enjoy the vestibule with bronze double doors and the elevator that, of course, stops at each of the floors—there’s also a service kitchen with back stairs access.

There’s also another, more…unique, if you will, feature of this particular five-story townhome.

Lovely dining room.

Lovely dining room. (Photo: Sotheby's International Realty)

The home also allegedly includes an elaborate security system, starting with an entry gate accessible by way of a key-card and a bulletproof front door. Not only do infrared detectors and cameras track movements inside, but, if anyone manages to get past the 17-foot-high walls in the backyard, there’s also a “panic room,” per the Post. The “vault-like” room is “like a command center,” with phone and electrical lines, 12 television monitors, a refrigerator and a surplus of food supplies.

So, for those with any security worries, or even if you just happen to be an über-fan of Jodie Foster’s Panic Room, and you’re looking for an enormous Upper East Side mansion, this could very well be the one.

Sadly, there's no image of the panic room, but this wood paneling looks quite nice.

Sadly, there’s no image of the panic room, but this wood paneling looks quite nice. (Photo: Sotheby's International Realty)

 

Is the $38M Price Right? Financier Michael Price Lists Security-Heavy Townhouse