Rising from humble origins, West Village townhouse sells for $27.5M

Credit: Compass

Talk about a rise from humble origins. A townhouse at 269 West 11th Street just sold for $27.4 million, that’s $27 million more than it sold for back in 2003.

Credit: Compass

In 2014, former ACORN lawyer Arthur Schwartz sold the townhouse to an unnamed buyer for $20.89 million, according to city records. It was quite a coup as Schwartz had paid a mere $499,990 for the property in 2003. Now the mystery owners have sold the home for a handsome profit once again. Anther mystery entity, called MCY Real Estate LLC, just paid $27.4 million for the 8,540-square-foot house, according to public records.

The only thing known about the new owners is that their LLC is registered to two properties in Anddroscoggin, Maine. One of the homes 29 Ridge Road in Lisbon, which they bought after a foreclosure, and the other is 124 Sabattus Road in Sabattus. And the mysteries don’t stop there. If you are wondering what makes this home so valuable this is all you will find:

“Lot is 27 × 110, building is 27ft wide, and goes back 70 ft. Back yard is 40 × 27. 1000 sq ft cellar (finished) not included in the square footage,” the listing reads on Streeteasy. Not exactly sexiest description…

The listing agents — Debra Kameros, Kelly Craig and Susan Weiner of Compass — provide a little more info on their site.

“A MANSION IN THE MAKING,” Compass claims, rather emphatically. “Plans are approved for a spectacular renovation by an award winning architect. The size of the house per the approved plans can be approximately twenty percent larger.”

Their listing also clues us into the fact that the 1836 Greek Revival home was once subdivided into several residences but that the tenants are out. “Create the canvas for the home of your dreams,” the brokerage writes. I guess now we wait and see what these mystery buyer’s dreams are made of.

Credit: Compass
Credit: Compass
Credit: Compass
Credit: Compass
Credit: Compass
Credit: Compass
Credit: CompassGre