Why the ‘Versailles in Manhattan’ townhouse has been on the market for 21 years

For 21 years, the grand townhouse at 163 E. 64th St. has been on and off the market, bouncing among nearly every brokerage in town.

The property first listed in 2003, and at its peak asked $35 million. The four-story house — sometimes called “Versailles in Manhattan,” with ornate, belle epoque- and Louis XIV-style interiors — is again for sale, now asking a much lower $15.99 million. (Should they suit a potential buyer, the home’s fixtures and furnishings are negotiable, and could come with the sale.)

The residence appears to hold a record for the New York City townhouse that has spent the longest stretch of time being tossed on and off the market — most likely because the house has never not been overpriced, real-estate insiders say. They also suggest that the seller — retired commercial real-estate broker Kenneth D. Laub — doesn’t really want to sell it.

For a property that has languished on the market for so long, “you wonder what’s wrong, and the first thing you look at is the price,” said one industry insider. “The pricing has always been above the current value. Listings are like milk. They don’t get better with age.”

In the past, Laub wasn’t particularly interested in selling, “but I am a serious seller now,” he told The Post, in a message conveyed by the current listing agent, John Antretter of The Agency. “This is a large house. It’s an even larger house when you are 85 years old than when you were 55. So it’s time to slim down.”

Laub bought the residence in 1986 for $4 million, or $11.48 million when adjusted for inflation. As time marches on, “life decisions change,” Antretter said. “It comes down to downsizing at this stage of life.”