The Woolworth Estate Is For Sale For Only A Few Million Dollars

Two Woolworth Properties Are For Sale

Neither Of These Residences Are Five & Dimes

But Why Buy The Woolworth Building Penthouse When You Can Buy The Entire Estate At A Fraction Of the Price?

The “Cathedral of Commerce,” still stands out on lower Broadway as an extraordinary building.

Frank Winfield Woolworth engaged architect Cass Gilbert to build him a grand office tower in 1910. Woolworth paid 13.5 million, all cash, for the land and construction of the building.

When completed in 1913 the 792 foot tower was the tallest building in the world and remained so until 1930. The top of the Woolworth Building had an observation deck where people could plunk down fifty cents to get a seventy mile panoramic view.

In 2015 the upper half of the fabulous Woolworth Building was converted to ritzy apartments. The apex of Frank Woolworth’s monument to nickels and dimes, the observation deck and its four adjoining floors is now a penthouse trophy apartment. Years after the Woolworth Building’s conversion the five story penthouse is still for sale with no takers,. The asking price has been reduced from $110 million to (a more reasonable?) $79 million.

For those looking for a relative bargain, there is the 16 acre former Woolworth estate “Winfield Hall” in Glen Cove, Long Island.

Winfield Hall is more than 48,000 square feet with 56 rooms, 12 bedrooms and 9.5 bathrooms. The residence cost upwards of $9 million to build in 1916 with the grand staircase costing $2 million on it own.

The mansion and property was most recently owned by the late Martin Carey, brother of former New York Governor Hugh Carey. The property was last up for sale in 2008 and the asking price was $19.8 million. In this market there is little chance of getting anywhere near that number. Conducting the sale is Brian Lee of Newmark Knight Frank. The price is $15.9 million. Annual property taxes are $257,436.

Share Button

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam Quiz:

This site uses Akismet to reduce spam. Learn how your comment data is processed.