A trusted source has reported that billionaire Mayor Bloomberg has purchased a home on 1014 Madison Avenue for $40 million. The house built 50 years ago belonged to James Graham & Sons, the city’s oldest family-run gallery.

The home considered as a landmark was not on the market and had no intentions to be, but mayor Bloomberg’s eagerness to own the property, along with his checkbook and offer, landed him the deal.

The mayor’s desire for the home becomes clear once it’s realized that a year ago he bought the Beaux-Arts mansion for $45 million, which is conveniently located right next door to the 1014 Madison Avenue house.

The Beaux-Arts mansion was purchased last year to lodge The Bloomberg Family Foundation, guesses are that both homes will be conjoined for a whopping 25,555 sq/ft foundation, or some say that it may even become the mayor’s campaign headquarter for presidency.

Via The New York Observer