New York City, December 20, 2025
A historic townhouse on Manhattan’s Upper East Side has been sold for $8.5 million, reflecting the robust luxury property market in the area. Originally listed at $65 million in 2023, the sale marks the second most expensive townhouse transaction this year and underscores the ongoing demand for upscale properties in New York City. The townhouse, featuring six bedrooms and significant historical ties, highlights Manhattan’s appeal to affluent buyers and investors.
Upper East Side Townhouse Tied to Real Estate Dynasty Sells for $8.5 Million
New York City – A historic townhouse on Manhattan’s Upper East Side, known for its association with a prominent real estate family, has recently been sold for $8.5 million. This impressive sale, which reflects the robust demand for upscale properties in the area, occurs against a backdrop of increasing interest in the luxury real estate market. Originally listed at $65 million in August 2023, the property at 4 East 79th Street found a buyer despite a dramatic price reduction, marking a significant transaction in New York’s storied real estate sector.
This sale is noted as the second most expensive townhouse transaction in New York City this year and ties for the seventh priciest in the city’s history. It showcases the ongoing allure of Manhattan’s elite properties, particularly those steeped in historical significance. The resilience of the small-business sector in the real estate market indicates a broader trend of economic health in New York City as well.
Property Details
The townhouse, built in the 19th century, boasts six bedrooms and six full bathrooms, situated in an enviable location near the corner of 79th Street and Fifth Avenue. The Upper East Side is renowned for its architectural richness and vibrant community, making it a desirable spot for affluent buyers and investors alike.
Historical Significance
Throughout the years, this distinctive property has changed hands among several notable figures, including the late business magnate Aso Tavitian. The ownership history adds to the townhouse’s charm and value, representing a tangible connection to New York’s history and real estate evolution.
Market Context
The sale of this townhouse underscores the persistent demand for luxury properties in Manhattan. In 2022, the median price for luxury townhouses reached $21.5 million, illustrating a 6% increase from the previous year. This trend highlights a recovering market that embraces growth, and it reflects positively on local economic conditions. With the steady influx of wealth and investment into this sector, the Upper East Side remains a focal point for luxury living.
Recent Notable Sales in the Area
- Historic Upper East Side Townhouse Sells for $56 Million – A separate transaction, a 19th-century townhouse at 4 East 79th Street sold for $56 million and ties for the seventh priciest townhouse sale in New York City’s history.
- David Rockefeller’s Former Upper East Side Townhouse Lists for $57.5 Million – This Colonial Revival-style townhouse, once owned by David Rockefeller, has re-entered the market after extensive renovations, now listed at $57.5 million.
- Barbra Streisand’s Former Upper East Side Townhouse Enters Contract at $16 Million – The five-story residence at 49 East 80th Street, which previously belonged to Barbra Streisand, has entered contract with an asking price of $16 million.
Conclusion
The sale of the Upper East Side townhouse for $8.5 million not only highlights the sustained interest in Manhattan’s luxury real estate market but also reinforces the importance of historical properties that resonate with affluent buyers. As demand continues to rise for prestigious locations, it is evident that New York’s real estate sector remains resilient and vibrant.
Frequently Asked Questions (FAQ)
What is the address of the townhouse that sold for $8.5 million?
The townhouse is located at 4 East 79th Street on Manhattan’s Upper East Side.
Who was the previous owner of the townhouse?
The property was previously owned by the late business magnate Aso Tavitian.
What is the historical significance of the townhouse?
The townhouse, built in the 19th century, has been owned by several notable figures, including Aso Tavitian.
How does this sale compare to other recent townhouse sales in New York City?
This sale is the second most expensive townhouse transaction in New York City this year and ties for the seventh priciest in the city’s history.
What is the current state of the luxury real estate market in Manhattan?
The sale reflects the ongoing demand for luxury properties in Manhattan. In 2022, the median price for luxury townhouses in Manhattan was $21.5 million, marking a 6% increase from the previous year.
Key Features of the Property
| Feature | Details |
|---|---|
| Address | 4 East 79th Street, Upper East Side, New York City |
| Sale Price | $8.5 million |
| Bedrooms | 6 |
| Bathrooms | 6 full |
| Historical Significance | Owned by notable figures, including Aso Tavitian |
| Location | Prime Upper East Side, near 79th Street and Fifth Avenue |
Now Happening on X
- @CrainsNewYork (December 19, 2025): Upper East Side townhouse tied to real estate dynasty sells for $8.5 million. View on X
- @NextHomeRes (December 18, 2025): NYC’s top deals: UES penthouse sells for $12M. View on X
- @GraphicMatt (December 17, 2025): The City CFO says the market for $3 million+ homes is holding up well, with a 32% increase in sales above that threshold despite tax hikes, totaling about 800 luxury homes sold in 2025 so far. View on X
- @NotHoodlum (December 5, 2025): Fears of an exodus of wealthy New Yorkers prove unfounded as luxury home sales surged in November, with 176 contracts for properties over $4 million—a 25% increase from October. View on X
- @trdny (December 15, 2025): One year after selling, an Upper East Side townhouse is back on the market asking $68 million. View on X
- @realtordotcom (December 16, 2025): Luxury sales climb in Manhattan with 33 contracts for properties listed at $4 million and above in one week, totaling $281.6 million in asking price volume. View on X
- @trdny (December 15, 2025): Condos at 15 Central Park West highlight another busy week for Manhattan’s luxury market, per Olshan Realty’s report. View on X
- @zillowgonewild (December 9, 2025): Paul Newman’s former Upper East Side apartment hits the market for the first time in over 40 years, listed at $9.95 million, with a building bike room as a bonus. View on X
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Author: STAFF HERE NEW YORK WRITER
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