View Full Version : 18 E 68th Street - History?

March 31st, 2003, 02:01 PM
Does anyone know the history of the beautiful stone row building that is 18 E 68th Street?

April 2nd, 2003, 05:38 AM
It was originally the Henry T. Sloane House, built in 1905 and designed by C.P.H. Gilbert in the Beaux Arts style.

(information from AIA Guide to New York City)

April 2nd, 2003, 10:59 AM
Thanks for your help! *That is very interesting!

April 3rd, 2003, 01:55 PM
Here is more...
18 East 69th Street is a magnificent building! Built in 1904-05, it was
designed by CPH Gilbert for Henry T. Sloane, *the son of the founder of W. & J. Sloane and director of that company. Sloane was also known as a philanthropist, donating two physics laboratories to Yale University. Sloane commissioned this house after he was divorced from his wife, Jessie Robbins, and they moved from their house at 9 East 72nd Street (one wonders where she moved!).

CPH Gilbert designed many opulent buildings on the Upper East Side and across the City. The designation report for the district describes the building as both Beaux-Arts and neo-Italian Renaissance style, which reflects the fact that Gilbert, who was trained at Columbia, was
comfortable designing in a number of styles according to the taste of his (wealthy) clients. In addition to designing mansions and rowhouses in the city, he also designed many of his client's *country estates, including "Pembroke" on Long Island.

The building today is not an individual landmark but is located in the
Upper East Side Historic District and therefore protected.

April 4th, 2003, 07:18 PM
Interestingly, now it is up for sale for $10,500,000. *

If you want to check out the full listing, check out this link!

http://www.masseyknakal.com/search/result_listing_map_manhattan.cfm?Territory=East%20 59th-East%2073rd

February 20th, 2008, 07:24 AM
For Sale! No Vacancy: Inside the Emptying of Manhattan's $64 M. Mansion

byMax Abelson (http://www.observer.com/node/36003) | February 19, 2008
This article was published in the February 20, 2008, edition of The New York Observer.


The 18,500-square-foot, 103-year-old townhouse at 18 East 68th Street just went on sale for $64 million, the most expensive officially listed house ever in New York. Dazzlingly, the place was sold to developers in 2003 for just $7.6 million, who sold it only last May for $20 million to an investment group managed by the banker Joseph Ingrassia.

How did $7.6 million turn into $20 million and then $64 million? The tenants of the mansion’s 11 apartment units, some elderly and rent-stabilized, were slowly lured away by a sharp 60-something man named Silvio Galterio.

Mr. Galterio had been trying to empty the place since his days working for the last owners, Dominion Management. “They really didn’t believe that I could get these people out for 10 zillion dollars,” he said. “I mean, the fact that I did it is a miracle.”

Now the mansion is being marketed as a single-family mansion—all the buyer has to do is renovate it back from apartments.

Mr. Galterio finished his work in January, when the society columnist Aileen Mehle, who wrote for decades as Suzy Knickerbocker, was bought out. “It was my job to understand what would motivate someone who has been living here for 35 years—the most splendiferous apartment in New York. Get her out, alright?”

“Sure, money has a lot to do with it,” he said—but, then again, so does understanding the tastes of tenants, who want to find new homes just like their old ones.

Ms. Mehle’s septuagenarian neighbor was harder to remove. “He was retired,” Mr. Galterio said, “had friends in the local neighborhood, what would he do with the money? He had no family. You know what I mean?” Just one tenant would ruin any potential single-family sale. “We had a fortuitous event happen! He had a new girlfriend … she had bigger aspirations.”

Ardor has been crucial to the house for a century. In 1899, Henry T. Sloane’s 17-year marriage ended, and his ex-wife remarried five hours later. He left their house and built this one with haute designer C. P. H. Gilbert, preventing his daughters from seeing their mother until she led “a moral life,” according to the listing with Brown Harris Stevens managing director Paula Del Nunzio. In 2006, the broker sold the Harkness Mansion for $53 million, a townhouse record.

A source involved in the deal told The Observer this week that Mr. Ingrassia’s partners include John R. Rice III, who is the other managing member at Capstone, a billion-dollar venture merchant banking firm that funds companies behind kosher foods, ladies handbags and even Danny DeVito’s Premium Limoncello. A third partner is Stephen Zoukis, formerly an executive for a German-U.S. real estate investment firm.

Despite the $20 million deed, The Wall Street Journal reported on Friday that the current sellers paid $39 million for the mansion. Two sources agreed that that figure was too large; the discrepancy might be explained by the sum the owners had to spend on removing tenants.

“I wouldn’t call it a game, but it’s like a game of poker to some extent,” said Josh Zegen, whose firm Madison Realty Capital lent the sellers $25 million, some of which went to buying out tenants. “You don’t know what’s going on in the other side’s head.”

“I’m almost like a tenant advocate, because I empathize with their position in a lot of cases,” Mr. Galterio said. “In some cases I don’t, because they’re taking advantage.”

Copyright 2008 The New York Observer