Is $63 Million Too Much for Logan Roy’s House?

Melissa Bradford

“Connor Roy was interested in real estate from a young age.”
Picture-Illustration: Vulture. Photos: Google HBO

“I will be hunting for $60 to $70 million,” Marcia crisply tells Connor when he asks about potentially purchasing his late father’s household. It is just one of the funnier moments in this darkish episode Logan’s wake has barely begun, and Marcia, back from “shopping in Milan,” has already settled on an asking rate for the home. “All appropriate! Okay. Wow. So, like, $63?” Connor replies, a minimal startled, and a spitty handshake deal is struck in advance of Logan’s overall body leaves Frank E. Campbell’s. Within minutes, we place Willa hunting the rooms up and down and proposing renovations. She does stop (just) small of buying new window treatment plans on her Apple iphone.

Most of the Roy townhouse’s interiors exist only on a soundstage, but exterior pictures of the house and its entry corridor exhibit the actual building at 991 Fifth Avenue, around 80th Road. It is a single of the final wonderful townhouses on Fifth, as most of the other individuals were demolished, setting up about a century back, for big apartment structures. Due to the fact 1940, 991 has housed the American Irish Historical Society, an outdated nonprofit that has confronted monetary worry in new several years. Its money, these times, usually will come from renting out the developing for functions like weddings and, indeed, film and Tv set shoots. In 2021, the culture attempted a Hail Mary survival tactic, putting up the dwelling for sale at $52 million. It eventually dropped that determine to $44 million in advance of getting it off the current market, amid discuss of an audit by Lawyer Basic Letitia James. That last inquiring rate was a stable $19 million much less than Connor’s unchallenged and promptly approved supply, suggesting that he has massively, enormously overpaid.

Now, admittedly, there’s an apples-to-oranges component to this comparison. A single suspects that Logan (or far more most likely Marcia) has got that fictional property into pristine bodily shape. Although the AIHS did a total restoration of its developing in 2008, any developing that’s been employed by an establishment for a long time will require updates and additions prior to billionaire occupancy can start: an around-the-major new kitchen, luxe loos, a couple of those Carrie Bradshaw–style closets. Other Fifth Avenue houses, sold not under strain, have absent for a lot more: The Benjamin Duke mansion, just a several methods away at 1009 Fifth, is on the marketplace for $80 million, while it is potentially more desirable since, as opposed to the midblock household at 991, it is on a corner and therefore is substantially brighter inside of.

That stated, Connor’s supply absolutely does verify just one issue: Like his siblings, he’s not a great negotiator. If that’s the selection, your 1st preemptive offer you could be, what, $50 million? Probably $55 million? Check the waters see whether or not she’d come down and satisfy you somewhere. Even with no the broker’s fee that Connor thinks he’s averting — my real-estate-reporter colleague Kim Velsey tells me a broker would count on a 6.5 per cent charge or about $4.1 million on this deal — he’s even now overpaying. How do you know? Marcia — clearly a a great deal cannier operator in this realm — accepts in a millisecond.

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