The beleaguered Berry-Hill Galleries and 11 East 70th Corp., owners of this building,  may finally find relief from their woes with the sale of this two-floor, 7,000 SF maisonette residential condominium. Constructed in 1910 by John Duncan, this property could stay a gallery or revert to residential use by the new owner. Plans are shown below.

11East70thStreet_plan

 

If sold, the $24,850,000 price tag will go a long way to satisfying the $29m debts they were facing from three lawsuits in 2011, after emerging from bankruptcy in 2007. Another victim of the Recession of 2008, this venerable 50 year old gallery will likely go the way of NY’s ex-oldest, M. Knoedler and Sons, gone after 165 years in 2012.

 

Contact Earl if you want to know more.