This rare, grand Italianate brick townhouse, the first house going east from Fifth Avenue, is situated on one of the most beautiful and sought-after blocks in Greenwich Village. It was constructed in 1852 by James Gallatin, the son of Albert Gallatin, the Secretary of the Treasury under both Thomas Jefferson and James Madison, and the man who negotiated the Treaty of Ghent, which ended the war of 1812. The younger Gallatin had grown up down the street at number 16, a Greek Revival home (and the first to be built on the block) built by his father in the 1830's. Number 12 reflects its prestigious history with a bounty of wonderful detail. The house offers plentiful historical features inside and out, such as an elegant brownstone stoop surrounded by elaborate iron work, ornate molding, high ceilings, decorative period mantels, and coffin corners. The grand entrance features a pilastered doorway with an elaborate cornice, carried vertically on console brackets. The fourth floor windows are low and set beneath a bracketed roof cornice where all but the end brackets are paired. The central panel is ornamented, adding to the richness of effect that is a hallmark of this architectural period. It is appropriately located within the Greenwich Village Historic District. Currently configured as a five-unit structure with a rear extension, the house can be maintained as such or easily converted to an impressive single family dwelling. This understated treasure has been owned by the same family for almost 50 years, and presents an ideal opportunity for a visionary buyer or investor willing to undertake an extensive and responsible renovation of this Great Lady, maintaining historical value while bringing her into the 21st century. With incredible potential to generate income or for personal use, here is your chance to obtain a gorgeous structure and a significant piece of New York history.