Bob Mnuchin's Limestone Masterpiece

After three decades as a rainmaker at Goldman Sachs, Robert Mnuchin had enough money to focus on his true passion, art. With his L&M Gallery, Mr. Mnuchin has become one of the city's foremost collectors and dealers—his latest show was reviewed in this week's Observer, in fact—though it appears he and wife Adriana also have a ken for collecting and trading real estate.

Only three years ago did the couple buy a four-bedroom, full-floor spread at 944 Fifth—Barbara Walters lives upstairs—for $20 million. They have now picked up another Upper East Side beauty, 14 East 95th Street, a limestone townhouse that was just remade from top to bottom by expert flipper TECNY Group, which is run by developer-designer Solomon Asser. The 16-foot-wide 1899 townhouse, originally designed by Henry Anderson, closed for $14.25 million earlier this month, after spending a year and a half on the market, first at $19.8 million, then $18.5 million.

SLIDESHOW: One Heck of a Renovation. >>

"We had to overcome that number," Douglas Elliman listing broker Sabrina Saltiel told The Observer, referring to the building's relatively narrow dimensions—such a pest! "For a 16-foot-wide townhouse, it's a great price. And he really made it feel—I would defy you to say it doesn't feel like an 18-footer."

Mr. Asser paid only $5.9 million for the home in 2007, so even with his extensive renovations—the sidewalks are heated to save the owners from shovelling—The Observer reckons he made out on the deal.

"The house is spectacular, every little thing about it has been done," Ms. Saltiel said. "It's 6,000-square-feet of absolute luxury." That includes a roof deck, five bedrooms, five full and five half-baths—the fourth floor is composed of a master suite with a terrace—herringbone floors, sparkling kitchen and an elevator serving it all. "The rooms are so wonderfully proportioned," Ms. Saltiel added.

In a bit of macabre humor, the city records the deal as between Gallow Hill LLC and Nuke Properties LLC. Ms. Saltiel declined to confirm the buyer, but a $7 million mortgage on file with the city lists Nuke Properties as well as Mr. and Ms. Mnuchin. The attorney on file for the deal is Valerie Mnuchin, the couple's daughter, who also has a thing for Upper East Side townhouses.

Those wanting something similar, perhaps even a bit better, might consider 16 East 95th Street, which is actually 18 feet wide. That must mean it feels like a 20-footer, right?

Mr. Asser bought this neighboring home, also designed by Anderson and boasting a bay window, in 2008 for $8.35 million. The renovations were just completed, and the home is about to come back on the market with Ms. Saltiel for $22.5 million, a $500,000 bump from its previous ask.

The option to combine both for only $40 million was once on the table, as well. Not that the Mnuchins should think anything less of theirs. "Both houses were done separately, in equal quality," Ms. Saltiel said. "You don't want the same thing as your neighbor."

SLIDESHOW: One Heck of a Renovation. >>

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mchaban [at] observer.com | @mc_nyo