T
he grand townhouse at 163 E. 64th St. has been on and off the market for 21 years, with nearly every brokerage in town having a shot at selling it. The four-story house, dubbed "Versailles in Manhattan" for its ornate interiors, first listed in 2003 for $35 million but is now asking $15.99 million.
The property's owner, retired commercial real-estate broker Kenneth D. Laub, purchased the townhouse in 1986 for $4 million and has been reluctant to sell, according to industry insiders. However, Laub claims he is a "serious seller now" due to his age and desire to downsize. The house features five bedrooms, a fireplace, and a professionally wired sound system, making it an ideal space for music lovers.
Laub's lawyer, Y. David Scharf, attributes the property's prolonged market time to its overpriced listing and the difficulties in coordinating with lenders. A potential buyer can negotiate the inclusion of fixtures and furnishings in the sale. The house has undergone improvements worth over $50,000, including fresh landscaping, paint, and mechanical repairs.
The Upper East Side townhouse market is relatively small, with only 26 transactions in the first half of 2024, according to a report by Leslie Garfield. Jonathan Miller, president of appraisal firm Miller Samuel, notes that townhouses are a subset of luxury properties and that their value lies in their unique features.
Laub's house has an elevator, which is a rare amenity in East Side townhouses, and radiant heat beneath the sidewalk. The property also has zoning allowances for adding a floor on top, but this would require significant construction costs. A potential buyer can update the highly customized space with their own designer.
As the house hits the market again, it remains to be seen whether it will finally sell. Laub's current listing agent, John Antretter of The Agency, acknowledges that the museum-like interior may not appeal to everyone but believes the bones of the property are excellent and can be updated to suit a buyer's taste.
