Upper West Side mansion sales are on the rise with another price drop on the landmark townhouse.
The asking price for 3 Riverside Drive was lowered to $13 million last week.It marked the second drop in home listing prices since it came back to market April was $16 million, down $9 million from the previous year.
The mansion has many things to like: river views, modern amenities and limestone features designed by renowned architect CPH Gilbert. But the buyer needs to complete a renovation that proved too much for the two previous owners. This process continues for his thirty years.
Built between 1896 and 1898, the 37-foot-wide Kleeburg Residence has been undergoing renovations since 1995, The New York Times reports. reportBroker and developer Regina Kislin and her husband Anatoly Siyagine bought it for less than $10 million that year.
The mansion was split into separate apartments, but after falling into disrepair, Kislin set about converting it back into a single-family home. I have listed. Five years later at auction she was sold to LLC for her $15.8 million.
Two years later, it hit the market again, this time for $25 million. After re-entering the market in April 2021 at the same price, in December 2022 he was reduced to $22 million and in April he was reduced to $16 million.
The plans call for an 18,000-square-foot home with eight bedrooms, five terraces, an Olympic-sized marble pool, a movie theater with stadium seating, a spa, gym, basketball court, and game room.
The plans for the nine-story Gilded Age house have been fully approved by the Landmarks Commission and the Building Department. However, it turned out that excavation under the current owner was “very expensive”. The owners sought to make room for their equipment by extending the 12,000-square-foot structure by an additional 6,000 square feet.
Marketing the property could soon lead to another big development. Listing ominously calls all offers by February 28th. It is not clear what will happen when that day comes.
Compass’s Ian Slater listingcould not immediately comment.