What it’s like inside the old New York home of Malcolm Forbes, the late Forbes magazine publisher
Greenwich Village town house used by Forbes magazine publisher to entertain CEOs and celebrities sells for US$8 million less than the original asking price
The former New York town house of the late American entrepreneur Malcolm Forbes, best known as the publisher of Forbes business magazine, has been sold for US$19.9 million.
According to The Wall Street Journal, the six-level town house, in Manhattan’s Greenwich Village district, which Forbes bought in the early 1960s, was used to host parties for CEOs and celebrities.
Forbes died in 1990, aged 70, and his family sold the town house in 2012 to developers Todd Cohen and Terrence Lowenberg of Icon Realty Management for US$7.25 million.
After extensive renovations, it went on the market in 2018 for US$28.5 million.
Earlier this month, the 9,000-square-foot (836-square-metre), five-bedroom home on 11 West 12th Street was finally sold for more than US$8 million less than the original asking price.
It was bought by J. Carey Smith, founder of Big Ass Fans, the manufacturer of fans, lights and controls for industrial, agricultural, commercial and residential use.
Greenwich Village was ranked at No 8 on Property Shark’s 2018 list of the 50 most expensive neighbourhoods in New York.
The average sale price for a home in the neighbourhood is US$1.35 million.
The New York Times estimated that Forbes’ net worth was somewhere between US$400 million and US$1 billion when he died.