Y. David Scharf Quoted in NY Post on Client's 21-Year Challenge to Sell Grand NYC Townhouse
Chair and Co-Managing Partner Y. David Scharf was quoted in a New York Post article entitled “Why the ‘Versailles in Manhattan’ Townhouse Has Been on the Market for 21 Years.” The luxurious Upper East Side townhouse, owned by Morrison Cohen client Kenneth D. Laub, has been on and off the market since 2003. The property, once listed at $35 million, is now seeking $15.99 million.
David told The Post that several potential sales have fallen through over the past few years, some due to the “non-cooperation of the lenders.” Before the pandemic, there was a firm offer for about $17.5 million, but “we couldn’t get all the parties together quickly enough and lost an excellent sale,” he said.
“Properties like this are unique,” David continued. “They have individual features and it is difficult to compare. Like all unique properties, it is subject to many vagaries. All it takes is one person who really wants it to pay $18 million, and all you need are two people to have it suddenly be a $19-million or $20-million sale.”
Read the New York Post article here.
Contacts
- Y. David Scharf Chair & Co-Managing Partner
- dscharf@morrisoncohen.com
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