Bowery Graffiti Mansion Sells For Whopping $55 Million

February 6, 2015 | Prachi Gupta

The mansion at Bowery and Spring, which has been covered in graffiti tags since the 1980s, has sold for a whopping $55 million. Rumors of the sale have been swirling since September, but until Thursday, the price was undisclosed.

The New York Daily News first reported the price that photographer Jay Maisel received for 190 Bowery, which he bought in 1966 for $102,000. Maisel lived in a small section of the 72-room house with his wife and daughter, with the rest reportedly as a studio space for artists.

When developer Aby Rosen of RFR Holding was negotiating the purchase of the property in September, he mentioned that it took six months to convince Maisel to sell the propery. “The building is in terrible shape. There’s no heat, Jay lives in just a small area of the building, another winter is coming, and it was time,” Rosen told the New York Times. “When you own a property for that long, and you are not a real estate professional, it takes a lot of convincing.”

At the time, Rosen said he planned to convert the building into condos, offices, and retail spaces.

(Photo: Google Maps)