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The townhouse 18 East 69th Street is for sale for $26 million. The news of a pricey Upper East Side property hitting the market for an unimaginable sum might not mean much for New York City shoppers at first—until they realize that it's been the home of luxury boutique Fivestory for the past three years.
The Wall Street Journal reports that whoever buys the building has the right to convert the entire retail space to residential, potentially leaving the store out in the cold (the current owners wouldn't say when Fivestory's lease expires). Above the boutique is two huge apartments and a rooftop deck, and the entire space spans more than 7,500 square feet.
We reached out to store owner Claire Distenfeld, who declined to comment on the matter. At least for now, we can take solace in the fact that this isn't affect the boutique's beloved off-site sale, which is coming to Soho in less than two weeks.