A controversial NYC townhouse is in contract for $11.5 million after getting a $40 million price cut and spending 6 years on and off the market. Take a look inside.
Melissa Wiley
Courtesy Compass
- A New York City townhouse that listed for $50 million in 2014 is finally in contract for $11.5 million, Jennifer Gould Keil reported for the New York Post.
- Located just north of the United Nations, the property is the former home of CBS founder William Paley as well as a jetsetting Iranian princess.
- The property has been the center of a legal battle since the princess' death in 2016.
- Here's a look inside the seven-story home, which comes with an elevator and sweeping views of the East River.
29 Beekman Place is in contract for $11.5 million dollars, roughly a fifth of its 2014 asking price.
Courtesy Compass
Charlie Attias of Compass and Greg Corbin of Rosewood Realty brokered the contract. Broker Donna Olshan first revealed the deal in her weekly report on the luxury real estate market, Jennifer Gould Keil reported for the New York Post.
Source: Compass
The seven-story home is located just north of the United Nations on the east side of Manhattan. It has views of Roosevelt Island and the East River.
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When CBS founder William Paley built the home back in 1934, it was the largest of nine townhouses on the block.
Chairman of CBS William Paley pictured on January 1, 1966.
Henry Groskinsky/The LIFE Picture Collection/Getty Images
Source: Compass
Its third and most recent owner was jetsetting Princess Ashraf Pahlavi, the twin sister of Iran's last shah. Pahlavi purchased the house in 1980 after her family fled Iran during the 1979 Islamic Revolution and lived there until her death in 2016, Attias told Business Insider.
Princess Ashraf Pahlavi during an interview at her apartment in New York on April 22, 1980.
Bettmann/Getty Images
According to Compass real estate records, Pahlavi listed the home for $49.9 million in February 2014. By June 2015, the asking price had dropped to $34 million.
Source: Compass, New York Post, Washington Post
Since Pahlavi's death, the property has been the center of a legal battle between two of her former employees. It went to bankruptcy court last year and received an offer for $10.3 million; however, the offer fell through.
Courtesy Compass
Source: Compass, Litvak Law Group, The Real Deal
Despite its controversy, the home still appears fit for a princess. Chandeliers line the ceilings ...
Courtesy Compass
Source: Compass
... and one bathroom that looks straight out of a provincial chateau.
Courtesy Compass
Source: Compass
Many details, like the moldings and fireplaces, date back to the 1930s.
Courtesy Compass
Source: Compass
In addition to the sprawling chef's kitchen, there is a butler's pantry and wine cellar.
Courtesy Compass
Source: Compass
The top floors, accessible by elevator, boast panoramic views of the Manhattan skyline ...
Courtesy Compass
Source: Compass
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