Ara Hovnanian Sells Manhattan Townhouse for $17.9 Million

Ara Hovnanian, chief executive officer of homebuilder Hovnanian Enterprises Inc. (HOV), sold a townhouse in Manhattan’s West Village for $17.9 million, a 15 percent discount from what he initially sought.

The buyer of the 8,100-square-foot (750-square-meter) home on West 12th Street was listed as 16 West 12 Holdings LLC, according to New York City property records filed today.

Hovnanian bought the five-story townhouse in January 2010 for $15.4 million, and put it on the market in September 2011 for $21 million, according to, a Manhattan property-listings website.

“This glamorous, mint-condition, 25-foot elevator townhouse on a prime Greenwich Village block has been recently renovated to blend great style and light with dramatic and spacious interiors,” according to the listing by broker Jill Roosevelt at Brown Harris Stevens.

The property includes a formal dining room that seats 30 people, a cobblestone garden, a master suite with his and her baths, and a private dressing room, according to the listing. The ground floor has two rooms for maids.

Hovnanian’s Red Bank, New Jersey-based company, which operates in 16 states, earlier this month reported an unexpected profit and a 52 percent jump in home orders in the quarter ended April 30.

Jeff O’Keefe, vice president of investor relations at Hovnanian Enterprises, said he couldn’t immediately comment on the sale. Roosevelt declined to comment.

To contact the reporter on this story: Oshrat Carmiel in New York at

To contact the editor responsible for this story: Kara Wetzel at

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