New Yorker Founder's House Hits Market for $14M
HELL'S KITCHEN — The former home of New Yorker founder Harold Ross is up for sale — and brokers expect it to be turned into a luxury condo.
Ross' onetime home at 412-414 W. 47th St. hit the market this week as part of a $13.95 million package deal that also includes a neighboring building, realtor Eastern Consolidated said. The firm said the combined property could become an enviable condo with the right amount of work.
"The two contiguous buildings offer approximately 16,000 square feet of floor area — with 3,085 square feet of unused development rights and 48 feet of frontage on West 47th Street — making this parcel a prime candidate for conversion to high-end rental or condo," the company said in a release.
Ross, who founded the New Yorker in 1925, lived on West 47th Street for decades, often editing copy or hosting friends in its large yard. The three-story walk-up building sold for $2.65 million to Thornton Equities in 2012, according to city records.
Next door, 410 W. 47th St. is a five-story, elevator loft building with leases expiring in 2014, Eastern Consolidated said.
“This two-building parcel is well poised for redevelopment,” said Adelaide Polsinelli, Eastern Consolidated's senior director, in a statement. “There is enormous potential for an investor looking to optimize on the incredible residential demand for new Manhattan living space in a great culturally rich neighborhood.”