Upper East Side townhouse trades for $38M

An Upper East Side townhouse is inching closer to its $40 million aspirations. 

A mansion at 18 East 73rd Street closed for $38 million last month — almost seven years after it first sought the eight-figure price tag, according to public records. 

The 10,000-square-foot home traded for $10 million more than its last purchase. The deal marks nearly double the price since Italian fashion designer Luca Orlandi purchased it as a multifamily property in 2013, when Curbed named it among the city’s priciest deals that year. 

The townhouse’s latest trade, which works out to about $3,800 per square foot, appears to be an off-market deal between the seller, Mallow Enterprises, and an unknown trust with attorney Ira Gilbert named as trustee. 

Mallow Enterprises — an entity linked to Luis Felipe Pedreira Dutra Leite, the former chief financial and technology officer at Anheuser-Busch — bought the home from Orlandi for $27 million in 2019

At the time of Orlandi’s purchase, the house was a multifamily building at the center of a contentious, five-year court battle between the landlord, owner George Pavia, and a tenant, James Couri. 

In 2002, Couri wrote to Pavia, accusing his father of being a “fascist sympathizer” and him of being a “member of the Mussolini-Fascist youth corps.” Pavia told his lawyers that Couri was a “pathological liar.”

After Orlandi bought the building, he and his wife, supermodel Oluchi Onweagba, combined the units into a single-family home as part of an extensive renovation, which delivered a six-bedroom property with a high-speed elevator and rooftop garden. 

Mallow Enterprises also bought a 4,000-square-foot condo at 432 Park Avenue for $26.4 million in 2017. 

Leite serves as the chairman of the board for beauty company, Waldencast Aquisition and as a board member for Mexican beer company, Grupo Modelo, according to Bloomberg. 

The deal for the 83rd Street townhouse joins other notable trades in the neighborhood. Last year, Julia Koch, the widow of billionaire David Koch, sold their East 76th Street townhouse for $41 million. One year prior, a historic home on East 86th Street sold for $57 million. 

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