The 12,000-square-foot property is set to be auctioned off on June 27
Developer Aby Rosen's Upper East Side rental, less than a block away from The Met, is set to hit the auctioning block next month, The Real Deal has learned. Rosen has been renting the six-story townhouse owned by the country Niger for the last 15 years, according to TRD, but the house is no longer Niger's to rent.
Earlier this year a New York judge ruled against the country in a suit filed by creditor, Africard. The company claimed that Niger had not honored a contract to create identity cards, in a separate suit which it won three years ago. The New York judge ruled that Africard could seize the townhouse at 5 East 80th Street as part of that judgement.
The six-story limestone mansion spans 12,000-square-feet and has undergone extensive renovations courtesy of Rosen, according to TRD. He apparently rents it for significantly less than the market value, and the minimum bid on the property, at $15 million, is also significantly less than its actual value, the broker on the property told TRD. He estimates that it will likely sell for more than $40 million.
Rosen will have the right to purchase the property when it comes to auction on June 27, but he hasn't discussed his plans just yet, and declined to issue a comment to TRD.
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