Doug Band, of Teneo Holdings, didn’t buy the late David Rockefeller’s townhouse on East 65th Street[1] as an investment.
He plans to live there with his wife Lily and their growing brood once the four-story building is renovated.
The Bands have a fourth child on the way, and a men’s homeless shelter is coming to West 58th Street, near their current digs. Time to move.
Band had no trouble with the $20 million purchase price, discounted more than $12 million from when it was first listed in June 2017, because he was an early investor in Alibaba, a friend told me.
And his Teneo consulting company is booming, too, with 730 employees in 18 countries.
Plus, the 40-foot-wide townhouse is much bigger than its listed 9,000-plus square feet, because it has a 3,000-square-foot basement, bringing the total to about 12,000 square feet.
“It was a steal,” said my source. “But it needs a lot of work. He’s already got an architect and a designer.”
References
- ^ on East 65th Street (www.realtor.com)