Former Paul McCartney Estate Lists, a Gilded Age Mansion Is for Sale for $65 Million, and More Real Estate News

A turn-of-the-20th-century mansion on New York’s Upper East Side is on the market for a cool $65 million. Completed in 1898, 4 East 79th Street was commissioned by James E. Nichols, a wealthy wholesaler and real estate mogul. Nichols bought the land for his six-story townhome from railroad magnate Henry H. Cook, who snatched up the entire block to ensure his neighbors were the crème de la crème of New York society.

Cook “would not sell to anyone who was not willing to improve his plot in splendid style,” The New York Times reported in 1912. But splendid might not have been the right word in the end: Nichols died in 1914 and his widow, Elizabeth Griggs Nichols, was killed by burglars breaking into the mansion a year later.

Through the 20th century, the house underwent various renovations, and its ground floor was eventually converted into commercial space. The most recent owner, late software entrepreneur Aso Tavitian, purchased the house in 1997 and worked tirelessly to restore the 35-foot-wide mansion to its original form as a single-family residence. “If he didn’t think it was the highest quality, he would rip it out and start again,” Candace Beinecke, the executor of Tavitian’s estate, told The Wall Street Journal.

Elegant period details include mahogany windows and doors, English brown oak paneling, and parquet de Versailles and herringbone white oak floors. On the third floor is an oak-paneled library with a wood-burning fireplace and views of Central Park. A marble-clad grand staircase connects the lower floors, according to the listing with Sotheby’s International Realty’s Serena Boardman and Susan Baker, while a passenger elevator will take you to the upper levels—and the house’s six bedroom suites.

Tavitian, who died in 2020, was renowned for his philanthropic efforts. A majority of proceeds from the sale will be donated to charity, the Journal reported.

First Look

9 Chapel comes into focus

In downtown Brooklyn, developer Tankhouse has shared a new rendering of 9 Chapel, a luxury condominium going up between Jay Street and Flatbush Avenue. Designed by AD100 firm SO-IL, the 14-story tower is draped in an undulating metal façade that gives the historic corner a new lease on life.

“We had the unique opportunity to design a building that makes a statement on all four sides,” SO-IL’s Karilyn Johanesen tells AD PRO. “The folded, perforated aluminum façade functions like a veil, giving privacy and protection to the loggias.” But the lightness of that veil contrasts with the heaviness of the inner masonry, Johanesen added, “and creates a play of light and shadow throughout the day.”

When it’s completed next spring, 9 Chapel will house a total of 27 one- to four-bedroom units, each offering exposed concrete elements, open-air terraces, and oversized picture windows with at least two exposures. Sales launch this fall, with prices starting at approximately $1 million.

News

America’s top zip code

You might be surprised which region has the hottest real estate market in the US. According to a new report from Realtor.com, the zip code to beat is 43230 in Gahanna, Ohio, a suburb of Columbus. According to the site, “the greater Columbus area offers home buyers the amenities and quality-of-life advantages of a larger town, but at a lower price.” It also indicated that homes in 43230 were priced 12.7% below the national median in June.

The housing site based its rankings by looking at the regions with the most unique viewers per property and the shortest average number of days that homes stayed on the market in the first half of 2023.

The report pointed to Ohio State University, the Short North Arts District, and Columbus’s celebrated food scene as factors in the region’s favor. “And with more than a quarter of its population aged 25–34, it’s favorable for young renters and buyers alike,” it says.

Rounding out the top five zip codes were 06489 in Southington, Connecticut; 07450 in Ridgewood, New Jersey; 01810 in Andover, Massachusetts; and 18064 in Nazareth, Pennsylvania.