- Malcolm Forbes’ old townhouse in Greenwich Village just sold for $US19.9 million, an $US8 million cut from its original asking price.
- The Forbes family sold the townhouse in 2012 for $US7.25 million to developers who renovated the property.
- J. Carey Smith, founder of “Big Arse Fans,” bought the townhouse in June 2019.
- Greenwich Village is one of the most expensive neighbourhoods in New York City.
- Visit Business Insider’s homepage for more stories.
The former townhouse of the late Forbes magazine publisher Malcolm Forbes has been sold for $US19.9 million.
According to The Wall Street Journal, the six-level townhouse, which Forbes bought in the early 1960s, was used to host parties for CEOs and celebrities.
The Forbes family sold the townhouse in 2012 to developers Todd Cohen and Terrence Lowenberg of Icon Realty Management for $US7.25 million. After massive renovations, it hit the market in 2018 for $US28.5 million.
In June 2019, the 9,000-square-foot, five-bedroom home on 11 West 12th Street was finally sold for over $US8 million less than the original asking price.
It was purchased by J. Carey Smith, founder of “Big Arse Fans.”
Keep reading for a look inside the townhouse.
Malcolm Forbes was the publisher of Forbes Magazine. He died at the age of 70 in 1990. In his obituary, The New York Times estimated that his net worth was somewhere between $US400 million and $US1 billion.
Source: The New York Times
Forbes’ former townhouse is located in Greenwich Village at 11 West 12th Street. In a 2018 Property Shark report, the Village was ranked the 8th-most expensive neighbourhood in New York City.
Source: Google Maps
The six-level townhouse was originally built in 1847. Malcolm Forbes bought the townhouse in the early 1960s and, according to The Wall Street Journal, he used it “purely” to host parties and visiting celebrities.
After being sold to developers back in 2012, designer Paris Forino was brought in to style the 9,000-square-foot townhouse.
In June 2019, it was sold for $US19.9 million to J. Carey Smith, founder of “Big Arse Fans.”
The great room boasts 22.5-foot-high ceilings and a gas fireplace.
A library overlooks the great room …
… and the home has a spacious living area.
The property offers around 2,400 square feet of outdoor space, which can be accessed through a set of glass doors that open up from the kitchen.
There are six full bathrooms in the townhouse.
The home has five bedrooms, but according to Curbed, two additional rooms in the house could also be used as bedrooms.
The home also comes with two roof terraces.
The townhouse was originally listed for $US28.5 million. After multiple price cuts it was finally sold for over $US8 million less than the original asking price.
Source: The Corcoran Group
Business Insider Emails & Alerts
Site highlights each day to your inbox.