$90 million New York Upper-East Side mansion takes a cut in rent

New York Upper East Side MansionNew York Upper East Side Mansion has taken a cut in its rent

In the past few weeks, everyone has noticed a sudden downfall in the financial market which has affected almost all industries across the globe, including the real estate industry. New York which is one of the prime destinations saw its most expensive pieces of real estate suffer some setbacks including prime locations like Upper East-Side, where this mansion is located. The home which could be rented for $210,000 a month as originally listed, but the current crisis has ensured that this plush mansion reduces its rent, and goes on the market for just $165,000 a month.

This mansion which has the address of 4 East 80th Street was initially built for Mrs. Helena Charles, who was the daughter of a retail chain owner Frank Woolworth. Woolworth engaged the expertise of famous mansion architect Charles Pierpont Henry Gilbert, who gave this multi-storied house its prominent French Renaissance style design. The entrance of this mansion begins with the prominent limestone façade with the central foyer for the grand entry hall. This hall gives access to the main residential portions along with the ground floor massive fireplace, 3 closets and a powder room apart from the kitchen also accessible through the rear end of the house. Next comes the parlor floor, which begins with a spacious sitting area connecting the main drawing room and formal dining room. The drawing room is 35 feet wide with its own fireplace and floor to ceiling windows, where the height of the ceiling is around 14 feet. The dining room has a sitting capacity of 50 people, and ends with a solarium room which is an ideal spot for a relaxing breakfast.

The 3rd floor of the house has a wood-paneled 35 foot wide library, bar and powder room. There is also a 2-bedroom suite with its own large baths and generous amount of closet space. The 4th floor has the master suite which has a grand bedroom, 2 sitting rooms and 2 independent bathrooms along with their dressing rooms. Moving further to the 5th floor, this one has 2 bedrooms with bathrooms and the gymnasium for when one wants to sweat it out within the comfort of their homes. The 6th and the 7th floors are more for office purposes with independent office areas, along with the bedrooms for the guests on the 6th, and the staff bedrooms with bathrooms and kitchen on the 7th floor.

With such a location and design, this property was expected to fetch a lot more than what we had mentioned earlier. But looking at the market in general, this is not the only mansion which is undergoing price cuts. Several more including this have been listed out in our coverage of America’s most expensive homes which have met a similar fate in previous years.