Gilded Age Manhattan Mansion Once Asking $72 Million Back With a Major Price Cut

A Gilded Age mansion on Manhattan’s Fifth Avenue is back on the market for $49.9 million, roughly $23 million less than what it was asking just two years ago.

The stately limestone mansion across from Central Park was built in 1910 by Stanford White, a prominent architect of the era who designed many lavish homes for members of East Coast high society, along with public buildings and the Washington Square Arch in Manhattan’s Greenwich Village neighborhood.  

Today, there are only five White-designed homes that have “survived in New York City,” said co-listing agent Andres Perea-Garzon of Corcoran, making the property “unbelievably rare.”

Perea-Garzon has the listing alongside Corcoran colleagues Carrie Chiang and Lesley Schulhof. 

The seller, he explained, is “so passionate about the history and architecture of the house,” and after purchasing the property for $42 million in 2012, embarked on a lengthy renovation and restoration. 

The more than 16,000-square-foot mansion has been “brought back to its original glory. Everything was fully either restored or put in brand new,” Perea-Garzon said. It’s “an homage to Stanford White.”  

Inside, the 11-bedroom home is a very lavish time capsule, laden with historic, Gilded Age charm. Standout features include nine ornate and fully restored wood-burning fireplaces, a grand limestone staircase with its original wrought-iron railing, limestone flooring that has been restored to its original grandeur, French stained-glass windows and towering ceilings.

The work also included new updates for high-end modern living, like state-of-the-art humidification systems with advanced HEPA filters, a comprehensive water purification system, individual HVAC zones and a new elevator. 

The house also has five kitchens, including a catering kitchen, a staff kitchen and a newly designed morning kitchen with a marble waterfall island.

There are also formal dining and living rooms, staff bedrooms, a library, a climate-controlled wine cellar, a Venetian plaster hammam steam room, a silver and jewelry vault, and a rooftop terrace with 360-degree views of the Manhattan skyline and Central Park. 

The home has been on and off the market over the years with a range of asking prices—first in 2023 for $72.5 million, then $65 million, then, most recently, $58 million, listing records show. 

Now, the seller—listed in records as an LLC, and unable to be reached for comment—is ready to move on, Perea-Garzon explained. And “if you look at what has sold in the past two years, [there’s been] somewhat of a correction,” adding that the new price “is very much in line with what has sold and traded in the past 16 to 18 months.”