Fall 2011

A SPECIAL ADVERTISING SUPPLEMENT TO THE NEW YORK OBSERVER

COVER PHOTO

149 EAST 38TH STREETLOUISE BEIT, 212.606.7703SOTHEBY’S INTERNATIONALREALTY, PAGE 5

Townhouses

In New York

Antique Charm

•

townhouse

•

townhouse

Editors’notE

Dear readers,New York has been called the city that neversleeps. Well, in this economy,

The Observer

isseeing people push harder than ever. Traccops are whistling at cars in the rain. Teachersare staying to work ater hours at school. Andin real estate, the deals are cutting—and ast!The townhouse market is one largely untouchedby the ebb and ow o business on Wall Street.Those brokers and buyers participating in thetownhouse real estate market know the oneactor in their business that never changes:location location location.In this issue, we examine the charm behindperiod homes, and why people who buy them seemystery instead o misery in the reurbishingprocess. We also look at mixed-use townhousesand try to understand the interesting investmentopportunities behind them. We sat down and hada chat with Adrienne Nef and Paula Del Nunzio,one a talented interior designer and the other anexperienced, top-perorming townhouse broker.And, o course, we give you

The Observer

’s takeon the overall state o the townhouse marketwith some analysis. We hope you enjoy.

—Observer Townhouse editors

Emilia FErrara

managing Editor

StEphEn duFFy

Contributing WritEr

Sonia SamuEl

Contributing WritEr

tylEr ruSh

produCtiondirECtor

liSa mEdChill

advErtiSingproduCtion

pEtEr lEttrE

photo Editor

laurEn drapEr

art dirECtor

robyn WEiSS

aSSoCiatE publiShEr

kathErinE dESpagni

advErtiSingCoordinator

bEtty lEttErman

SEnior dirECtor,advErtiSing SalES

D a v i D P a l e r

Townhouse listedby Brown HarrisStevens withantique charmaccents.

LouisE BEit

120 East 70th strEEt

Operated by Sotheby’s International Realty, Inc. Sotheby’s International Realty

is a registered trademark.

EAST SIDE MANHATTAN BROKERAGE

| sothebyshomes.com/nyc

38 EAST 61ST STREET, NEW YORK, NY 10065

Louise Beit, Senior Vice President, Associate Broker | 212.606.7703

120 EAST 70TH STREET:

Superb, architecturally important neo Federal style 6 story townhouse in beautiful condition, locatedon one of the most celebrated blocks on the Upper East Side. Approximately 10,000 sq. ft., 16 rooms, 11’ ceilings, 9 bedrooms, 9baths, 3 powder rooms, staff room, 8 fireplaces, 3 terraces, elevator, garden. Offered at $27,750,000. WEB: NYO0016387