A Renaissance Revival brownstone with ties to the iconic jazz singer Billie Holiday has transacted for $10.5 million, representing an almost 11 percent markup from its previous sale and highlighting the investment potential of properties with notable historical connections.
The Upper West Side townhouse at 26 W. 87th St., where “Lady Day” resided until her death in 1959, was purchased by Lorne Somerville, managing partner at CVC, and his wife Amy Somerville, a luxury furniture maker, the New York Post reports.
The sellers — Emilio Masci of Aperture Advisors and Kristine Bell of David Zwirner — bought the property for $9.47 million in 2017, resulting in approximately $1 million in profit before renovation costs.
Where Lady Day Once Called Home
Built in 1881, the property underwent a complete two-year renovation finished in 2019, led by architect Amie Sachs. Originally listed at $13.99 million in 2022, the final sale price represents a 25 percent reduction, reflecting current trends in Manhattan’s luxury market.
The 6,300-square-foot townhouse features six bedrooms, six bathrooms, nine fireplaces, and designer details like herringbone oak floors. The entire third floor is dedicated to a 1,200-square-foot primary suite, making it attractive to wealthy buyers seeking both historical character and modern luxury.
Douglas Elliman’s George Vanderploeg and Stuart Brannan handled the listing, with Vanderploeg and colleague Karan Chopra representing the buyers.
During Holiday’s time there, the building was divided into individual apartments, with the singer living on the first floor when she released her acclaimed final album, “Lady in Satin,” in 1958.
This sale comes as other Holiday-connected properties have faced different fates.
Last month, the New York Times reported, a building in Harlem where Holiday lived in the early 1930s suffered severe damage in a four-alarm fire. That property at 108 West 139th Street, owned by the city’s Department of Housing Preservation and Development, had been planned for renovation through preservation programs before the fire.
In 2022, Holiday’s former Beverly Hills estate also was put up on the market with the seller asking for $3.5 million. The Spanish-style property, built in 1926, previously sold for $2.15 million in 2015.
It sold for $3.4 million in 2023, less than the asking price but approximately 60% more than what the owner purchase the estate for.
According to Realtor, real estate experts note that celebrity connections can boost property values, though results vary widely.
This pattern is visible in other celebrity home sales. A house previously owned by music superstar Prince, which he bought for his mother, recently hit the market with marketing materials highlighting its connection to the Purple One as a selling point.
On the other end of the spectrum, basketball icon Michael Jordan’s Chicago-area estate shows the limits of celebrity appeal. After sitting on the market for nearly 13 years, the 8.4-acre property finally sold for $9.5 million — just one-third of its original 2012 listing price of $29 million.
Real estate advisors suggest that while celebrity ties may help market a property, traditional factors — location, condition, and timing — remain the most important in determining value. The Holiday brownstone sale, with its modest profit margin after renovation expenses, seems to have balanced these elements successfully during a challenging period for luxury properties.
Over the last few years, market reports show that high-end Manhattan properties are currently taking longer to sell and seeing more price negotiations, making the Holiday townhouse transaction a relative bright spot in today’s market.
For investors considering properties with celebrity provenance, Holiday’s former residence demonstrates that the right combination of historical significance, premium location, and quality renovation can still yield positive returns, even when the original asking price proves ambitious in current market conditions.
