Silvershore Investors Attempt a Flip for the Record Books on a Sutton Place Townhouse

Posted On Wed, June 11, 2014 By

Posted On Wed, June 11, 2014 By In Interiors, Major Developments, Sutton Place 

Last month, Jason Silverstein and David Shorenstein of Silvershore Properties along with investor Norman P. Rappaport purchased a $7.8 million Sutton Place townhouse. And just like that, they’re flipping it with an asking price of… wait for it… $19.95 million.

We’re not sure what rabbit Brown Harris Stevens listing agent Paula Del Nunzio plans to pull out of the hat but achieving a flip that big would be nothing short of spectacular. However, according to her webpage, she already has a few record-breaking sales under her belt.

Sutton Place 4

The 3,919-square-foot town home was built in 1920 and has retained its original details, and an elevator- which seems like a luxury but is probably a necessity in a five-story mansion. The 4BR/4.5BA home has views of the East River from the home as well as from its semi-private garden shared exclusively by the residents of the Sutton Place Enclave. The house also has a rooftop terrace along with three other terraces.

There’s no doubt the home is worth some serious cash, but a flip like this? Only time will tell.

[Listing: 13 Sutton Place by Brown Harris Stevens]

[Via WSJ]

[At CityRealty]

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Neighborhoods : Sutton Place

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