In addition to being one of the world’s most iconic artists, Andy Warhol appears to have had the Midas touch for real estate. In 2013, Warhol’s one-time townhouse on Lexington Avenue sold $5.5 million—he paid just $60,000 for it in 1959; then last October, the artist’s former Montauk compound, which he paid just $225,000 for in 1972, sold for a whopping $50 million; and now, as The Real Deal reports, the ramshackle Upper East Side studio he rented for paltry $150 a month has just traded hands for an incredible $9.9 million.
159 East 87th Street
Celebrities, Recent Sales, Upper East Side
UES studio Andy Warhol rented for $150/month sells for $10 million, Fri, November 18, 2016
Celebrities, Cool Listings, Upper East Side
UES Firehouse Studio That Andy Warhol Rented for $150/Month Is Now Listed for $10M, Tue, April 5, 2016
In 1959, just before his career was about to take off, Andy Warhol bought a townhouse at 1342 Lexington Avenue near 89th Street and moved in with his mother. “But after three years there, canvases had begun to fill the ground floor apartment, while Brillo boxes and Campbell’s soup cans were stacked to the ceilings,” reports Blouin Art Info. So when a friend tipped him off to a vacant firehouse nearby at 159 East 87th Street, the pop artist saw an opportunity for his first official studio. He wrote a letter to the city and began paying $150/month for the two-story building with no heat or running water (h/t DNAinfo). It’s here that Warhol is said to have created his famous “Death and Disaster” series from 1962-63, and now, more than five decades later, the property is on the market for $9,975,000.