In the bustling heart of New York City’s vibrant Greenwich Village, a luxurious townhouse located at 8 Washington Place is a pinnacle of urban living. Just off Washington Square Park, this property boasts a prestigious address that encapsulates the quintessential New York lifestyle, blending opulence with a historical backdrop.
Architectural and Design Marvel
Spanning approximately 9,000 square feet, the six-floor townhouse demonstrates a vertical architectural style typical of New York real estate, maximizing space in a city where square footage is a precious commodity. The design, crafted by Koda Design, merges industrial chic with luxurious townhouse living. The residence features double-height ceilings, exposed brick, and industrial elements such as exposed steel and concrete, reminiscent of a Tribeca loft.
Exclusive Location and Market Value
The house’s location in Greenwich Village is highly sought after, with proximity to Washington Square Park adding to its allure. The asking price of $25 million reflects its value in a market where real estate prices are steep, with even a modest residence on this block commanding upwards of $20 million. The townhouse’s width of 23 feet is significant in a city known for its narrow, towering buildings.
Luxurious Living Spaces
This townhouse is crafted for luxury and entertaining, featuring minimal outdoor yard space to maximize interior amenities. The ground floor welcomes visitors into a different realm, equipped with a high-end Meile induction stove and a private elevator that services all floors. An elegant glass architectural staircase enhances the modern aesthetic.
The Primary Suite – A Sanctuary
One entire floor is dedicated to the primary suite, which functions as a comprehensive living space complete with a jacuzzi tub, a trough sink, ample storage, and even a designated outdoor area. This floor alone, if sold as an apartment, could fetch around $4 million, showcasing the high value of each segmented space within the property.
Additional Luxuries
Further adding to the townhouse’s appeal are luxury amenities like a sauna and a steam shower located in the guest suite area, promoting relaxation and wellness. Outdoor space includes a hot tub under the stars, offering a rare private retreat in the heart of the city.
Investment and Renovation Costs
The cost of living in such a prestigious area comes with high renovation expenses, estimated between $1,000 to $1,200 per square foot. Thus, transforming this 9,000 square foot townhouse could amount to around $10 million in renovation costs alone, underscoring the significant investment required for maintaining or upgrading such a property.
Real Estate Market Insights
The townhouse’s market position is bolstered by comparisons to other high-value properties managed by the real estate agent, Ryan. For instance, Ryan recently facilitated the sale of a slightly smaller property on the Upper East Side for $57 million via FaceTime, illustrating the high stakes and digital adaptability in today’s real estate market. He is also handling the sale of an 18,000 square foot penthouse on Central Park, listed at $250 million, one of the most expensive single-residence listings in New York City.
Conclusion
This $25 million townhouse is more than just a residence; it’s a multifaceted investment in one of the world’s most dynamic real estate markets. For those looking to immerse themselves in luxury and exclusivity while residing in a historically rich neighborhood, this property offers an unmatched opportunity. The blend of sophisticated design, strategic location, and expansive amenities sets this townhouse apart as a premier property in New York City’s real estate portfolio.
