x Abu Dhabi, UAEFriday 28 July 2017

A New York building that was formerly a private members' club is on the market for US$130 million and is set to become one of the biggest and most expensive homes in the United States.

The Residence at River House, a former exclusive private members’ club, is being sold for US$130 million. Courtesy Christie’s International Real Estate
The Residence at River House, a former exclusive private members’ club, is being sold for US$130 million. Courtesy Christie’s International Real Estate

A New York building set to become one of the biggest and most expensive homes in the United States is on the market for the first time in its 82-year history.

The Residence at River House, a former exclusive private members’ club, is being sold in its “existing condition” for US$130 million.

Located in Manhattan, the five-story building near the East River has housed the River House’s private club since 1931. However, according to The Wall Street Journal, it has been put on the market after attempts to negotiate a long-term lease renewal or sale proved unsuccessful.

The building comes with a proposed renovation plan by the interior designer Tony Ingrao that capitalises on the “palatial scale” of the property.

“The Residence is being offered in its existing condition, enabling the purchaser to create what will truly be one of the grandest urban residences in the world,” says the website of Brown Harris Stevens, which is marketing the mansion in conjunction with Christie’s International Real Estate.

“In the proposed renovation plan designed by Tony Ingrao it would comprise over 62,000 square feet on five levels. It is the most important private residential property in New York City history to come to market,” adds Brown Harris Stevens. Under the plans, guests will gain access from a private entrance from East 52nd Street into a large “living” level.

A 27,500 sq ft garden and leisure level will include a swimming pool, tennis court, an Imax screening room and spa, while a 15,000 sq ft bedroom level features a master suite along with his and her baths, dressing rooms and wardrobes.

There is also a staff level with nearly 6,000 sq ft of work areas, bedrooms and lounges.

It includes a total of 30 rooms, eight bedrooms and 10 bathrooms.

Don’t have the $130m to hand? A 100 per cent mortgage over 30 years at a 5 per cent interest rate will cost you $697,868.10 a month.

gduncan@thenational.ae