Weekly Top Ten Real Estate Hot List Tue: 09-18-2012
If you are looking for a very nice New York townhouse rental at just $150,000 a month, the Woolworth Mansion could be the place for you. And that might be a bargain? The 1916 mansion was priced at $210,000 per month but was just reduced to the more affordable $150,000. Or if you think renting is a bad investment, you can buy it for $90 million.
Frank Winfield Woolworth became a retail giant in the late 1800s by pioneering the five and dime store concept. He responded to his new wealth in the same manner as others in his generation - by building unforgettable mansions. In those days, wealth was displayed loud and boisterously with the newly rich each trying to outdo each other by building the most lavish estates. Most of these gilded-age mansions have been lost to fires, demolition or repurposed for condos or businesses, but some still survive as single-family homes. And a few, such as the Woolworth Mansion, are better than ever having been restored to its original pre-war elegance. The 35-foot-wide limestone mansion has 18,000 square feet in seven stories, 10 bedrooms and 11 bathrooms. Other features include a paneled library, a dining room that can seat 50 people, a suite of offices and a gym. It is one of three mansions he built for his three daughters.
With a recent sale in New York’s now under construction One57 condos for over $90 million and another unit available at $100 million, the Woolworth mansion is no longer the highest priced home in New York, but it’s still the highest priced single family home in the city.
The Woolworth mansion’s original staggering rental price of $210,000 a month has just undergone a price drop to $150,000 a month, thereby widening the potential rental client base from a few select billionaires to a few more billionaires.