New York Real Estate: Townhouse Once Home to Alexander Hamilton’s Son Available for $10M

Posted by Staff Reporter (media@realtytoday.com) on May 02, 2016 06:40 AM EDT
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WASHINGTON - SEPTEMBER 19: A statue of the first United States Secretary of the Treasury Alexander Hamilton stands in front of the U.S. Treasury September 19, 2008 in Washington, DC. Treasury Secretary Henry Paulson announced that the Treasury will insure money market mutual funds as one part of a massive government bailout that is attempting to stabilize the current financial crisis. (Photo : Chip Somodevilla/Getty Images)

The historic home that once belonged to Alexander Hamilton's son is now listed on the market for $10 million. According to New York Curbed, the property was also home to the punk-rock shop Trash & Vaudeville until they moved out of the space in February of this year.

The property, which is also known as the Hamilton-Holly House, was purchased by the Castellan Real Estate Partners for $2 million under the original asking price. It was first listed by Eastern Consolidated for $11.9 million, but after February, the asking price dropped down to $10.5 million.

According to the Observer, the 10,000-square-foot townhouse between Second and Third Avenues is currently vacant, and the 5,668-square-foot retail space on the ground floor and the lower level was the one that was recently occupied by the punk band. The building has four free-market apartments on the floors above.

Since the whole property has no tenants, it was said that this offers the buyer a unique opportunity to renovate the building since it has tremendous potential. Retail rents around the area range from $100 per square foot to $250 per square foot, as reported by Eastern Consolidated's James Famularo. Famularo was hired to market the retail floor of the building.

Hamilton Jr. bought the building in 1833 just two years after it was built. After his father died, his son bought the home and moved in with his mother Elizabeth, his sister Eliza and her husband Sidney and his wife Eliza. The property features a signature Federal style and also a marble English basement. The home was sold in 1843. During the mid-century, as the neighborhood fell out of fashion, it was split into multiple dwellings. During the 1950s and 1960s, the property was used as an experimental theater.

 

 

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