Composer Jonathan Sheffer has sold his 5,200-square-foot townhouse in New York’s Greenwich Village to the tune of $18.1 million, according to Robert Dankner, president of Prime Manhattan Residential.

Located on West 10th Street, the historic Greek-Revival home was listed in April for $19 million.

It was completely gutted, with architectural plans for a penthouse expansion and new basement that will bring the total size to 7,500 square feet, Mr. Dankner said.

His clients will spend an additional $7 million to $10 million on the project, which will take about 14 months to complete.

Built in the 1830s, the 24½-foot-wide townhouse was sold at a discount because of the additional work required. Comparable finished homes might sell in the $30-million range, he said.

Of the roughly 40 townhouses in Greenwich Village of similar width, about half of them have sold in the last 18 months.

Source: WSJ - STEFANOS CHEN