Breaking: Fire on East 70th, the City's Best Townhouse Block

A nightmare week for the Upper East Side continues. NY1 reports that there's been an enormous fire at Coach president Reed Krakoff's new $17 million home.

Earlier this year, Michael Calderone wrote:

When Mr. Krakoff purchased his new 30-foot-wide townhouse on East 70th Street, between Park and Lexington avenues--the same tony block that director Woody Allen now calls home--it was reported that the fashion executive would have about $2.5 million in renovations in front of him.

After it took 140 firemen to put out the main blaze, the FDNY said: the fire "appears suspicious."

UPDATE: WCBS-TV is reporting that authorities are suspicious because (a) the fire "began at around 2:30 in the morning" and (b) the townhouse "was not occupied; it was in the process of being renovated." - Max Abelson