The largest single-family residence in Manhattan, a historic Gilded Age mansion on the Upper East Side, has entered into contract after nearly a year on the market. The sprawling 20,000-square-foot property, known as the Woolworth Mansion, was last listed for $49.95 million, a significant reduction from its previous asking prices.
City records confirm the home at 4 E. 80th Street went into contract on October 27. The final sale price and the identity of the buyer have not yet been made public, marking a new chapter for one of New York City's most storied properties.
Key Takeaways
- The Woolworth Mansion, Manhattan's largest private home at 20,000 square feet, is now under contract.
- The property was last listed for $49.95 million, nearly $40 million below its peak asking price of $90 million in 2012.
- Built in 1915 for a daughter of retail magnate F.W. Woolworth, the home boasts 9 bedrooms, 11 bathrooms, and numerous luxury amenities.
- The sale follows nearly three decades of ownership by the family of the late fitness entrepreneur Lucille Roberts.
A Long Road to a Deal
The journey to this sale has been a lengthy one, characterized by ambitious pricing and subsequent adjustments to meet market realities. The mansion first captured headlines in 2012 when it was listed for an eye-watering $90 million, briefly making it the most expensive townhouse in New York City. That price proved unattainable, and the property was later taken off the market.
It reemerged for sale last November with a more modest, yet still substantial, price tag of $59 million. After several months without a buyer, the price was reduced further to $49.95 million, a figure that finally attracted a successful offer. This final asking price represents a discount of nearly 45% from its 2012 peak.
Adam Modlin of the Modlin Group, who represents the sale, previously described the property as offering “the best value” for a home of its immense scale and historical significance in Manhattan.
Pricing History at a Glance
- 2012 Peak Price: $90 million
- November 2024 Price: $59 million
- Final Asking Price: $49.95 million
- Price Per Square Foot (at final ask): Approx. $2,500
Inside a Gilded Age Masterpiece
Designed in 1915 by the renowned architect C.P.H. Gilbert, the limestone mansion stands an impressive 35 feet wide, a rarity in a city known for its narrow townhouses. It was commissioned by Frank Woolworth, the founder of the F. W. Woolworth Company retail chain, for his daughter Helena.
The home was one of three adjacent mansions Woolworth built for his daughters, creating a unique family compound in one of the city's most exclusive neighborhoods. Its interior spaces are a testament to the opulence of the era, with features that have been carefully preserved and restored over the years.
Unmatched Scale and Amenities
The residence spans seven floors, all serviced by an elevator. Its vast layout includes nine bedrooms and eleven bathrooms, providing ample space for both family and guests. The property is equipped for grand-scale entertaining and modern living with three separate kitchens.
A grand dining room, capable of seating a large banquet, is one of the home's centerpieces. Other notable features include:
- A private gym and sauna for wellness.
- A stately, wood-paneled library.
- A glass-enclosed solarium offering a tranquil retreat.
- Ornate mosaic tilework and original stained glass windows.
"The property’s scale and pedigree have few peers in the city’s townhouse market."
A Legacy of Ownership
For the past 29 years, the mansion has been the home of the Roberts family. The late fitness mogul Lucille Roberts and her husband, real estate investor Bob Roberts, purchased the property in 1995 for $6 million from the Young Men’s Philanthropic League.
From Philanthropy to Private Residence
Before the Roberts family acquired it, the mansion served as a clubhouse for a philanthropic organization. The couple undertook an extensive and meticulous restoration to return the building to its original grandeur as a single-family home, preserving its architectural integrity while updating it for contemporary use.
Following Lucille's passing in 2003, the family continued to reside in the home. It was briefly offered on the rental market in 2021, commanding a monthly rent of $80,000, with a summer lease option available for $125,000 per month. Its return to the sales market last year signaled the end of an era of family ownership that spanned nearly three decades.
The sale of the Woolworth Mansion is a significant event in the New York luxury real estate market. It reflects a continued demand for trophy properties with historical character, even as the market adjusts to new economic conditions. The new owner will acquire not just a home, but a significant piece of New York City history.
