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

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

June 11, 2014

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.

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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More: Distinctive Homes, Real Estate Trends

Tags: David Shorenstein, Jason Silverstein, Norman P. Rappaport, Silvershore Properties, Sutton Place Enclave

Location: Sutton Place

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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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