Times have been tough for the New School, which has a projected $52m budget shortfall for the 2024 fiscal year as the cost of living surges and student enrolment struggles to resume pre-pandemic levels. To help with the deficit, the institution is offloading some of its real estate, starting with its president’s five-storey Greenwich Village townhouse—yours for $20m.

The 4,038 sq ft home at 21 West 11th Street was purchased by the university in 1984 for $990,000 from children’s book authors Herman and Nina Schneider, whose social circle included W. H. Auden, Philip Roth, artists Linda Lindeberg and Giorgio Cavallon and Mark Rothko. It dates from 1834 and was built in a Federal style (though its plain exterior was remodelled in a Greek Revival style in the 1850s, giving it much of today’s curb appeal.)

Inside, it has been completely modernised, from the addition of a two-storey atrium and garden to hidden features like radiant floor heating, central air, and all-new glazing. It’s also beautifully appointed, with a soft cream and white colour palette throughout, contrasted by black steel-framed windows.

On the garden level, French doors lead from the kitchen to the split-level landscaped garden, with an outside lounge area and grill.

The parlour level is south-facing, overlooking West 11th Street, and has large living and dining rooms for entertaining. The house’s original mantle piece has been retained, though it is now fitted with a wood-burning stove.

On the third floor is the primary bedroom suite with its own outdoor terrace. A media room, second bedroom, and two full bathrooms are also on this level, while two more bedrooms can be found on the fourth floor. Finally, the top floor has a guest suite with a home gym, kitchenette, and full bathroom.

Mara Flash Blum and Nikki Field of Sotheby’s International Realty are listing agents for the Manhattan property, asking for $20m.

[Sources: NYTimes, 6sqft + Daytonian in Manhattan]

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