It’s been a little under a year since New York City’s historic Milbank Mansion found a new owner. The six-storey townhouse sold in December of 2018 for $9,500,000 after sitting on the market for over a decade and for as much as $29,000,000. The Real Deal reported in September of 2018 that Barron Nicholas Hilton II had scoped out the townhouse when it was listed for $12,000,000. It was commissioned in 1888 by Elizabeth Milbank, philanthropist and widow of prominent businessman Jeremiah Milbank, the house was completed in 1892 by the renowned architectural firm of Hugh Lamb & Charles Alonzo Rich. The New York Times reported that nearly a century later, the mansion received a museum-grade restoration, restoring the building into a single family residence after being used as an apartment building for several years. The New York Times reported that Michael Balk and wife Marcy restored the mansion over several years after acquiring it in 1988 for close to $1,000,000.
The New York Times stated that, “Much of the original detail had been lost. Priceless features like the 13-foot coffered mahogany ceiling in the foyer and the unusual curved pocket doors at the foot of the oak staircase had been obscured by plaster board, dropped ceilings and other slapdash architectural indignities. And the impressive 400-pound oak door that was the original front door and now guards the foyer had languished in the basement for half a century.” This magnificent one-of-a-kind property has seventeen rooms, six bedrooms, five bathrooms, ten fireplaces, a panelled six-stop elevator and 8,820 interior square feet on six levels. The quality of craftsmanship is incomparable and must been seen in person to be fully appreciated! Original massive curved pocket doors separate the front parlour from a reception area while the formal dining room showcases exceptional inlaid hardwood floors and a 24 karak gold ceiling. Additional period details include mahogany panelling, ornate mouldings, spectacular parquet flooring and an updated kitchen. This property is not currently on the market. Photography by Tony Cenicola | New York Times.