Ivana Trump's Former NYC Townhouse Price Cut to $19.5 Million After Extended Listing

Ivana Trump's former Upper East Side townhouse has seen another significant price cut, now listed at $19.5 million. This adjustment marks a considerable drop from its original asking price of $26.5 million in 2022, following a $4 million reduction last year, as reported by Realtor.com.

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Property Background and Features

The elegant six-story residence, spanning 8,725 square feet, was purchased by Ivana Trump for $2.5 million in 1992 after her divorce from former President Donald Trump. The late socialite, originally from Czechia, raised her three children in this lavish home. She passed away in 2022 from injuries sustained in a fall.

The townhouse boasts an opulent Baroque-inspired design, featuring crystal chandeliers, gilded paneling, and ornate crown moldings. An elevator services all six floors, ensuring ease of access throughout the property. Noteworthy features include a dining room styled after the Palace of Versailles with gold wall fabric and a primary suite that occupies the entire third floor. This suite is distinguished by a mural, a private terrace, and an en-suite bathroom made of pink onyx marble.

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Additional amenities include a media room with an adjacent kitchen, 700 square feet of outdoor space, and a Swedish sauna. The property is conveniently located near prestigious cultural institutions such as the Frick Collection, the Metropolitan Museum of Art, and the Guggenheim Museum. It is also close to Central Park, high-end shopping districts, and fine dining options.

Current Market Trends

The price reduction comes amid a cooling in the Upper East Side real estate market. As of June, the median list price for homes in the area stood at $1.8 million, reflecting a 2.5% decrease from the previous year. The average price per square foot was $1,500, and the median selling price was $1.4 million.

In comparison, the largest property currently listed in the neighborhood is a 16,000-square-foot, 10-bedroom, 8½-bath townhouse with an asking price of $58 million. On the lower end, the smallest available property is a 246-square-foot studio unit priced at $250,000. The most expensive property in the area is a seven-bedroom, 12½-bath townhouse listed for $65 million.

Market Context and Implications

The substantial price reduction for Ivana Trump's former townhouse highlights the ongoing adjustments in the luxury real estate market. While the property’s unique features and prime location offer significant appeal, the extended time on the market and recent price adjustments reflect broader market trends and buyer sentiment. Potential buyers looking for high-end properties in Manhattan’s Upper East Side will find a range of options, from historic townhouses to modern studio units.

Also Read: More Than 100 U.S. Cities See Starter Homes Surpass $1 Million as Housing Market Struggles