Massive Mansion Created from Two Townhouses in Lower Manhattan
A massive six-story mansion, built from two combined townhomes, is currently on the market for $75 million. Located at 105-107 Bank Street, this property could set a new record for downtown sales if sold at the asking price. Reports suggest that there’s significant interest among wealthy buyers looking for larger living spaces in the area.
While combining properties isn’t a new concept in New York City, the city’s booming luxury market is driving up demand for spacious homes. This trend has given rise to what some are calling “Frankenmansion.”
Width is a key factor for these upscale homebuyers, as downtown locations like the West Village often have shallower lot depths compared to the deeper lots in areas like the Upper East Side. Jonathan Miller, a real estate consultant, explains that having more width translates to more square footage, essentially allowing for what he describes as a “double-wide” home.
Combining townhomes also helps buyers navigate landmark restrictions that limit facade changes. The trend of creating larger living spaces was previously covered, highlighting its growth in downtown areas.
The development of this latest mansion was handled by RoundSquare Builders in partnership with renowned architectural firm Robert AM Stern. Over a 20-month period, they transformed an old property, achieving a width of 40 feet in the process. The listing is represented by Matthew Lesser from brokerage Leslie Garfield.
With around 13,000 square feet of space, this Bank Street property is designed to appeal to the small but growing number of potential buyers considering homes in the $75 million range. Miller notes that the ultra-luxury segment is becoming increasingly distinct from the broader luxury market.
Even so, Miller hesitates to label the creation of “Frankenmansions” as a full-fledged trend, mentioning that such high-value deals are outliers in various markets. The gap between the wealthy and the less affluent seems to be expanding, he suggests.
High-profile examples of merging properties include Sarah Jessica Parker and Matthew Broderick’s $34.5 million home, which is made up of two townhouses, and Sean Parker, who invested heavily in West Village property in 2016.
This trend isn’t confined to just downtown locations. Notably, Russian billionaire Roman Abramovich and Madonna both have similar projects on the Upper East Side, with one mega-mansion listed last year for $85 million following a lengthy seven-year construction process.
Rising interest in maximizing Manhattan’s width is attracting the attention of brokers and developers alike. Recently, two West Village townhouses were listed for $15 million, offering the potential to create a standout 39-foot-wide mansion.
Round Square Builders acquired the Bank Street properties in 2021 and 2022 for a total of $18 million, after which they worked with the city to preserve a historic facade while demolishing parts of the original structures.
The new mansion has its own share of historical significance, as John Lennon and Yoko Ono once lived in one of the original units. The current downtown sales record of $72.5 million for a similar property was only set last year.
The Journal points out that the $75 million price reflects meticulous attention to detail, with high-end finishes such as hand-selected Italian stone and a floating staircase featuring 470 hand-painted balusters.
With its impressive staircase, six stories, and features like a screening room and gym in the basement, this property is designed for luxury living. The builders even preserved a spiral staircase from Lennon’s former home, linking the terrace and garden patio.
Miller adds that the complexities of merging two townhomes—often with different ceiling heights and floor levels—make projects like the Bank Street mansion both challenging and costly. Round Square has yet to disclose overall construction costs, but luxury renovations can exceed $2,000 per square foot.
