Edgar Bronfman, Jr., the Seagram liquor heir who runs Warner Music as its Chairman and CEO, reportedly is under contract to sell his 31-foot-wide town house on Manhattan's Upper East Side for a price that will (barely) exceed $50 million.

 

This week, the New York Observer reported that if the deal closes, Bronfman, who is 52 and who had been shopping around the five-story town house at 15 East 64th Street for more than $61 million, will have attained a unique milestone: he will have been the seller of only the second town house ever in New York City history to sell for more than $50 million.

Bronfman paid just $4,375,000 for the limestone building in 1994, and subsequently deconverted the structure from a nine-apartment building into a single-family dwelling. According to a 1994 New York Times article, the building was designed by John C. Greenleaf for Helen C. Thorpe, the building was erected in 1916 and converted to apartments in 1941.

Once renovations were completed--and they took five years--Bronfman moved in in 1999, but he certainly didn't seem to want to stay there long, first listing the mansion in 2002 for $40 million.

Various news reports over the years have pegged the mansion at nearly 15,000 square feet in size, while public records state that it measures 11,805 square feet.

The all-time record for a single-family house sale in New York City remains the sale of the Harkness Mansion last year at 4 E. 75th Street for $53 million. The Observer suggested that Bronfman's sale price, if the deal closes, isn't expected to top that.

Now, Bronfman, the Observer reported, is moving to a five-bedroom apartment in the building at 1040 Fifth Avenue, which had been listed for $19.5 million. That unit has Central Park views, a 27-foot-long living room and a library with a wood-burning fireplace, the Observer reported.

We'll keep you posted (as will our esteemed and worthy fellow celebrity real estate columnists at the New York Post and the New York Observer) on the precise amount that the sale closes for--if it closes--and also who the buyer is.