Newswire Mann Report

Republic of Malta Acquires 244 East 48th Street for $8.4M

Diana Siegel

After more than two years of negotiations, the Republic of Malta has acquired the townhouse at 244 East 48th Street for $8.4 million. The six-and-a-half story, 6,800-square-foot property, which underwent a two-year gut renovation that was completed in 2016, will be used as a mission and consulate.

Two former HSP Real Estate Group brokers, Diana Siegel of Resolution Real Estate Partners and Todd Korren of Avison & Young represented the Mediterranean nation. The original negotiations for the sale began in late 2019.

“Just when we were about to close, following months of discussions, the pandemic hit, along with lockdowns and every other obstacle imaginable,” Siegel said. “In the interim, Todd and I moved to different firms, while maintaining contact with each other and our clients virtually.”

The property features seven bedrooms, eight full bathrooms, formal dining room, expansive living room, and 30-foot-deep landscaped garden. Elegant interiors are highlighted by fireplaces, 11- to 13-foot-high ceilings and fine natural wood and stone finishes. In addition, a five-passenger hydraulic elevator services all six floors, terrace on the sixth floor, full-floor roof deck and balcony off the chef’s kitchen.

Matthew Lesser of Leslie Garfield & Co. Inc. represented the seller.