Former ‘porn mansion’ becomes NYC’s most expensive house after being sold for $80million by hedge fund boss

A former ‘porn mansion’ has become the most expensive house ever sold in New York City after being sold for a stunning $80million by a hedge fund boss.

The Milbanks Mansion on East 67th Street, which was formerly owned by ‘Penthouse’ magazine founder Bob Guccione, was sold by Philip Falcone earlier this week – according to the Wall Street Journal.

Falcone and his wife Lisa reportedly own two townhouses on the same street, with the other property still on the market for a massive $29.5million.

Falcone bought the home for $49million in 2008 and invested millions in renovating the home over the past few years, expanding it by 30,000 square feet.

The 'Milbanks Mansion' was sold for $80million, making it New York City's most expensive residential townhouse ever sold

The ‘Milbanks Mansion’ was sold for $80million, making it New York City’s most expensive residential townhouse ever sold

The stunning home, located on the Upper East Side, is famous for being the former home of 'Penthouse' magazine founder Bob Guccione. The Falcones purchased it for $49million in 2008

The stunning home, located on the Upper East Side, is famous for being the former home of ‘Penthouse’ magazine founder Bob Guccione. The Falcones purchased it for $49million in 2008

The Falcones are said to have expanded the double-wide townhouse by 3,000 square feet, adding a pool and a movie theater below ground level. A glimpse inside a lavish living room inside the extravagant home pictured above

The Falcones are said to have expanded the double-wide townhouse by 3,000 square feet, adding a pool and a movie theater below ground level. A glimpse inside a lavish living room inside the extravagant home pictured above

The lavish home includes seven bedrooms, 13.5 bathrooms and an elegant paneled library (above)

The lavish home includes seven bedrooms, 13.5 bathrooms and an elegant paneled library (above)

The opulent home includes a grand dining room with velvet walls, an ornate ceiling, and a dazzling crystal chandelier

The opulent home includes a grand dining room with velvet walls, an ornate ceiling, and a dazzling crystal chandelier

An entry way to the home shows the 13-ft ceilings int he grand entryway and gilded front doors

An entry way to the home shows the 13-ft ceilings int he grand entryway and gilded front doors

This week’s sale smashed the previous record set by J. Christopher Flowers in 2006 when he paid $53 million for the Harkness mansion on East 75th Street.

Milbanks Mansion was never formally listed for sale, but sold through an ‘off the market’ deal.

The identity of the buyer has not yet been confirmed.

Falcone reportedly expanded the property and added a pool and a movie theater below ground level.

Falcone and his wife (together in 2009) bought the home for $49million in 2008 and invested millions in renovating the home over the past few years, expanding it by 30,000 square feet

Falcone and his wife (together in 2009) bought the home for $49million in 2008 and invested millions in renovating the home over the past few years, expanding it by 30,000 square feet

Originally constructed as two separate buildings in 1879, the houses were combined in the 1920s by Jeremiah Milbank, a director of Metropolitan Life Insurance.

The extravagant home includes seven bedrooms, 13.5 bathrooms, a grand staircase, 13-foot ceilings in its reception gallery, gilded ceilings, and a paneled library.

The home also includes a wine cellar, a home gym, a renovated placement, and plenty of storage space.

The ground of the home, also known as the Garden Floor, has a gated entrance, a state of the art kitchen with an adjoining sunroom and outdoor patio.

The 26-room, six-story mansion was bought in 1975 by Guccione – with the wealth acquired from his adult magazine Penthouse.

The third floor includes 12-foot ceilings, a formal living room and adjoining kitchenette.

The fourth floor is home to the master bedroom suite, a mahogany and marble paneled bathroom and 400 square foot dressing room with a terrace.

The fifth floor houses two sprawling bedrooms with an adjoining office.

The sixth floor is where the home amenities are located including a gym, terrace, and a study.

The planted rooftop offers two lounge areas decked out with wet bars.

In the basement, the new residents will find a wine cellar, taste room, laundry room, pool, and storage space.

The 26-room, six-story mansion was bought in 1975 by Bob Guccione - with the wealth acquired from his adult magaine Penthouse. Guccione added all sorts of personal touches to the landmark, like a Roman-inspired indoor pool and marble columns with his face on them

The 26-room, six-story mansion was bought in 1975 by Bob Guccione – with the wealth acquired from his adult magaine Penthouse. Guccione added all sorts of personal touches to the landmark, like a Roman-inspired indoor pool and marble columns with his face on them

Originally constructed as two separate buildings in 1879, the houses were combined in the 1920s by Jeremiah Milbank, a director of Metropolitan Life Insurance. A living room and kitchen inside the home pictured above

Originally constructed as two separate buildings in 1879, the houses were combined in the 1920s by Jeremiah Milbank, a director of Metropolitan Life Insurance. A living room and kitchen inside the home pictured above

One of the seven grand and elegant bedrooms in the mansion pictured above

One of the seven grand and elegant bedrooms in the mansion pictured above

The extravagant home includes seven bedrooms, 13.5 bathrooms, a grand staircase, 13-foot ceilings in its reception gallery, gilted ceilings, and a paneled library. An office space in the home pictured above

The extravagant home includes seven bedrooms, 13.5 bathrooms, a grand staircase, 13-foot ceilings in its reception gallery, gilted ceilings, and a paneled library. An office space in the home pictured above

Milbanks Mansion was never formally listed for sale, but sold through an 'off the market' deal. A view of the outside patio pictured above

Milbanks Mansion was never formally listed for sale, but sold through an ‘off the market’ deal. A view of the outside patio pictured above

At the height of his wealth in the 1980s, when Fortune magazine estimated he was worth $200m, the walls of his mansion were hung with works by Van Gogh, Matisse, Renoir, Chagall, Degas, Modigliani and Picasso.

Guccione added all sorts of personal touches to the landmark, like a Roman-inspired indoor pool and marble columns with his face etched into them.

The Falcones dispatched with Guccione’s flourishes, auctioning off objects such as marble toilets and a marble column with a likeness of the porn king carved at the top.

Falcone, 47, who was raised in Minnesota and graduated from Harvard, founded hedge-fund firm Harbinger Capital Partners in 2001. He was No. 158 on Forbes’ list of richest Americans last year.

(Total views: 159 Time, 1 visits per day)

Leave a Reply