The listing at Prudential Douglas Eliman tells the story:
MOTIVATED SELLER RETIRING & MOVING OUT OF NYC WANTS TO HEAR ALL OFFERS! Rare 1860's four story single family townhouse located in the most coveted East Village neighborhood with the potential to be the truly special home of one's dreams. This house could easily be restored to a luxurious residence or developed into a lucrative boutique, restaurant, condominiums or Bed & Breakfast, especially considering the building's F.A.R. which would permit the addition of two more floors (500-600 ft of buildable space). Current owner has short-term roommates. The East Village has never been more attractive as a burgeoning cultural center with immense residential interest and incredible investment opportunity in terms of income growth potential. January 2011 through 2012 NYC Property Assessment Value is $3,885,000. This house will be Delivered Vacant and will be on any user or investors short list, due to its versatility and value.
The price was reduced this week by 5 percent to $3.985 million.