Real Estate Investor’s Tribeca Townhouse Asks $40M

A Tribeca townhouse is back on the market for the first time in nearly 20 years, asking $40 million.

Real estate investor and founder of Ascot Properties NYC Lucky Bhalla and his wife Laura are the sellers behind 145 Reade Street, Mansion Global reported. If the Bhallas get the price that they’re asking for — or even less — they’ll be making a pretty penny, as the 10,500-square-foot home sold for $1.5 million in 2003.

The five-story limestone and brick townhouse was built in 1910 and rebuilt in 2013 — likely justifying the price hike.

The 23.5-foot-wide home has four bedrooms, seven bathrooms, four half bathrooms and nine fireplaces, three of which are wood burning. The home’s outdoor spaces total over 1,000 square feet.

The grand foyer features ceiling heights up to 24 feet. The first floor includes a large eat-in chef’s kitchen with a fireplace, built-in banquet and patio.

A sweeping staircase leads to the second floor, which has a formal living room with a marble fireplace and French doors that lead to a juliet balcony. There is also a circular dining room with a butler’s pantry and powder room.

The primary suite is located on the third floor, which has walk-in closets throughout and a bedroom with its own balcony and fireplace. The bathroom has a soaking tub and a fireplace.

Two more bedrooms, with en suite bathrooms, are located on the fourth floor. The fifth floor includes another bedroom and a double-height paneled library, along with a separate wet bar and powder room.

There are two exterior terraces. There is a front patio with a 17-foot pool that is heated and salinated and a back patio with an outdoor kitchen, dining and sitting area.

The couple is selling the home to move to Miami, they told Mansion Global. Compass agent Arran Patel, who has the listing, told the outlet that despite a cooling luxury market at large, he sees the lack of inventory propping Tribeca’s priciest properties up for success.

Contact Sasha Jones