"The limestone Beaux-Arts townhouse was built in 1901 and clocks in at roughly 18,000 square feet, with about 20 rooms and a trove of original details that survived decades of use. Inside, there are multiple fireplaces, ornate plasterwork and grand formal spaces that recall the building's Gilded Age origins."
"The offer, submitted by an entity identified in court filings as 15 East 63rd Street, LLC, is set to go before a federal bankruptcy judge this week. If approved, the sale would help satisfy more than $30 million in liens and mortgages attached to the property and would mark a turning point in years of litigation."
"Chapter 11 trustee Albert Togut has asked the court to bless a sale structure that would lock in the $34.5 million offer as a stalking-horse bid and set a $34.1 million back-up. His filings also seek to shield the transaction from transfer taxes as part of the bankruptcy process."
The 1901 Beaux-Arts limestone townhouse at 15 East 63rd Street, spanning approximately 18,000 square feet with 20 rooms, is undergoing bankruptcy sale proceedings. The property, historically associated with fashion designer Oleg Cassini, features original architectural details including multiple fireplaces and ornate plasterwork. The asking price has declined from $65 million in 2024 to the current $34.5 million offer. Chapter 11 trustee Albert Togut has structured the sale as a stalking-horse bid with a $34.1 million backup offer, seeking court approval to shield the transaction from transfer taxes. The listing shifted to Brown Harris Stevens after Sotheby's failed to generate serious buyer interest.
#real-estate-bankruptcy #upper-east-side-townhouse #gilded-age-architecture #property-litigation #stalking-horse-bid
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