Sex and the City actress Sarah Jessica Parker and husband Matthew Broderick recently purchased 273 and 275 West 11th Street. These two particular townhouses have been under the care of a local non-profit group, United Methodist Women for the past eighty years.
The two properties were valued at over 44 million dollars, but it is being reported that Parker and Broderick were able to pick up both properties for only 34.5 million.
That’s nearly a 10 million dollar pickup in equity right off the bat. The price per square foot on the closing of the deal echoes the amazing discount that Parker got on both townhouses.
The final price per square foot is only $2,482 compared to the $3,412 per square foot that real estate experts originally valued the properties at. That type of reduction in price per square foot is uncharacteristic in the New York City real estate market.
One Townhouse is better than two
Broderick and Parker will more than likely work on combining the two townhouses into one mega mansion. The two combined townhouses would be over 13,000 in square feet.
In addition to the amazing square footage numbers, the properties also come with a 2,100 square foot garden. The combined square footage of the apartment and the outdoor living space gives Matt and Jessica over 15,000 square feet of indoor and outdoor living space.
That type of space in NYC is quite impressive. The Village seems to be on its way to becoming the epicenter for the resurgence of the mega mansion. This will probably be a long-term investment for Parker as this type of purchase, and potential renovation would be a massive undertaking.