'The Versailles of Manhattan': Nobody can sell this $26 million NYC townhouse

Nestled in the heart of one of the most exclusive neighbourhoods in Manhattan is a 743 square metre townhouse that has been described by real estate industry experts as the “Versailles of Manhattan”.

However, the luxurious pad has also received the far less glamorous label of “unsellable”.

163E East and 64th Street has been languishing on the market for the past 15 years, in that time it has been marketed by 12 real estate agents and the price tag has been cut four times.

The property’s current owner Kenneth Laub, a commercial real estate agent, originally listed the property in 2003 for US$33 million.

After years of bouncing on and off the market, Laub has recently co-listed the home with Douglas Elliman and Corcoran for US$19.75 million (AUD$26.35 million) – a whopping $13.25 million less than the original asking price.

“It’s become the laughing stock of the brokerage world, viewed as a casualty of location, price inflation and an ego-driven seller living in a fantasy land,” NY Post reported.

The five bedroom, eight bathroom house was built in 1872 by well-known Manhattan architect, John G Prague.

• Related: This converted ticketing office’s asking price defies belief
• Related: Ellen and Portia reportedly flip their California ranch
• Related: How does this controversial house make you feel?

Spread across four stories, the property is described in its listing as “one of the most distinguished townhouses in NYC”

The grand home boasts many luxury features including marble baths and fireplaces, a chef’s kitchen with a temperature controlled wine room a private gym and an elevator.

Many of the home’s original features remain intact, including a pine library dating back to 1872 and a European designed rooftop garden.

Despite numerous price cuts, Laub said he won’t sell the property for any less than he thinks it’s worth.

“If I’m overpriced then so be it,” Laub told the Observer in 2009. “If someone feels that the house is worth what I think it is worth, then they’ll buy it. And if not, then they won’t. And it’s not the end of the world one way or another.”

– This story originally appeared on stuff.co.nz