A 100-Year-Old Manhattan School Asking $60 Million Could Become a ‘Grand Mansion’

A nearly 100-year-old Manhattan mansion that started its life as a school has hit the market for $60 million. 

Located on East 62nd Street on the Upper East Side, the seven-story neo-Renaissance building dates to 1904, according to the listing with Ryan Serhant, founder and CEO of Serhant. It features a two-story limestone facade, with the upper floors finished in yellow brick laid in Flemish bond, highlighted with terracotta and gray brick. 

“At 40 feet wide, [the building] is more than double the average width of townhouses in New York City,” Serhant said. “It’s nearly 25,000 square feet, so there is nothing else like it on the market.”

The property was owned by MacAndrews & Forbes—a holding company owned by investor Ronald Perelman—until April 2021, when it sold for $25 million in an all-cash deal, according to records in PropertyShark. An LLC tied to the Chapman Group, a real estate firm run by the family of Perelman’s wife, Anna Chapman, bought the building, records show. Representatives for the couple did not immediately return a request for comment. 

There are myriad options for a new owner to use the building, from creating an office or foundation on the lower levels with a residence above it to splitting the space up into several luxury apartments, the listing said. It could also be converted into one “grand mansion,” according to the listing. 

“The building is an exciting and impossible find in one of Manhattan’s prime residential enclaves, which also allows for full-commercial use of the entire building,” Serhant said. “There are so many opportunities for mixed-use, private use or subdivision.”

Originally, however, the building was commissioned by Eleanor L. Keller to house her trailblazing “Miss Keller’s School for Girls (and Boys),” according to the listing. Architect George Keller, her uncle, was behind the construction. Later, the space was a private arts club, and in 1960, it was purchased by the Fleming School. Commercial use was approved in 1990 for then-owner Revlon—one of Perelman’s brands—which painstakingly restored the property’s  facade.

Amenities of the property include a double-height lobby that leads to a large board room, a conservatory with a wood-burning fireplace, a 3,000-square-foot roof deck and two staircases—including the main staircase, which wraps around the elevator and is finished with Venetian plaster walls, creating wall space for art. 

An adjacent building is also being marketed by Serhant for $35 million. It offers “16,000 square feet of interior space that includes commercial office space on the lower floors and residential use on the top two floors,” the listing said. 

It was also sold in April 2021 by MacAndrews & Forbes to the Chapman Group, PropertyShark records show. The sale price was $10 million.

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