The Real Deal New York

Duell continues selling spree with trio of deals worth $76M

Stanley Wasserman among buyers of Manhattan properties  

December 11, 2015 04:20PM
By Rich Bockmann

From left: 957 Park Avenue and 27 Washington Square North

From left: 957 Park Avenue and 27 Washington Square North

Family-run investment firm Duell Management continued its recent string of sales of Manhattan properties with three deals totaling $76 million.

Midtown-based Duell, which owns multifamily and retail properties in neighborhoods like Greenwich Village and the Upper East Side, sold the properties in three separate transactions in early December, according to property records filed with the city Thursday.

Duell sold a five-story, nine-unit rental building at 957 Park Avenue on the Upper East Side to Stanley Wasserman’s New Rochelle-based S.W. Management for $16 million, records show. The firm also sold a two-story, 10,000-square-foot retail building at 1611 Madison Avenue in East Harlem for $40 million, and a seven-story, 27-unit rental building at 27 Washington Square North in Greenwich Village for $20 million.

Last month, Wasserman went into contract to buy a large Upper East Side portfolio for more than $300 million.

Neither Wasserman nor Duell responded to requests for comment. Property records for the other two buildings do not identify a buyer.

The transactions follow a pair of other deals earlier this month worth a combined $130 million. Duell earlier this month sold a Madison Avenue building home to a Dolce & Gabbana children’s store to Ralph and David Sitt’s Status Capital for $47 million.The company sold another retail and commercial building on Madison to Elliott Chehebar’s Jackson Group recently for $83 million.