$6.95 Million New York City Townhouse Once Owned by Russian Royalty Finds a Buyer for the First Time in 30 Years

The only New York City townhouse that went under contract for $4 million and above for the week ending Aug. 31 was once owned by Russian royalty.

The townhouse on East 65th Street was listed for $6.95 million and has finally found a buyer after 30 years, according to the Olshan Report. The home was once owned by Russian Prince Serge Belosselsky-Belozersky and his American bride, Florence Crane Robinson.

The Sotheby's International Realty description says it's the "best-priced opportunity in the East 60s" and described it as a "developer's dream, foundation, or a mission to the UN." (The United Nations headquarters is located on East 45th Street.)

"The description for 124 East 62nd Street indicates it needs a complete renovation," says Donna Olshan, president of Olshan Realty. "It is also reflected in the price."

Olshan points out property records show the home is owned by legendary advertising executive Jerry Della Femina and his TV personality wife, Judy Licht. No word when the couple last lived in the home.

According to Realtor.com® records, the last time the townhouse sold was in 1995 for $2.25 million. Throughout the 30 years, it had been listed several times—as high as $9.95 million in 2018. The $6.95 million asking price decreased from its re-listing price of $7.5 million in December 2024.

Stately home

The townhouse is located in Manhattan's Lenox Hill neighborhood on a tree-lined block near shopping and restaurants.

The garden level has an entry foyer with a curved staircase and a domed skylight. The sitting room, dining area, and a chef's kitchen open to a garden.

The home has five floors, an elevator, fireplace, private library, and Juliet balcony. There are five bedrooms, 5.5 bathrooms, wine cellar, fitness room, home theater, and a private office.

It was built in 1869 and its future homeowner will have the option to increase the square footage, add a rooftop terrace, or reconfigure the home's layout.

Summer sales

In all, 16 contracts were signed last week in Manhattan alone for properties worth $4 million and above—totaling $111,540,000 in weekly prices sales volume.

It's six fewer contracts than the week prior but still on par with the 10-year average of 16.5 contracts for the week before Labor Day, according to Olshan.

Overall, it was the fourth best August with 92 contracts signed. The report points out 2021 was the best August since it started keeping track in 2006, with 143 contracts signed, followed by 2015 (97 contracts), and 2014 (94 contracts).

If homebuyers thought summer was a slump, it's actually the fall season when there may be a significant dip.

"September is often the worst month of the year, so my expectations are low," says Olshan. "The third quarter is always the lowest of the year."

Across the U.S., homes for sale inventory rose 24.8% year over year. The number of unsold homes, including those under contract, was up 16.9%. The national median list price was $439,450.

In the New York luxury market, Olshan hopes to see a turnaround by the later fall.

"By October, things usually start picking up and then around the holidays, activity gets quieter again," explains Olshan. "By Super Bowl Sunday, we are back to the races all the way through June. That's typical seasonal New York activity."