The Real Deal New York

Investor team snags Vanderbilt townhouse for $19M

Ilan Bracha’s B+B Capital teams with Mink Development to create floor-through condos

May 01, 2014 02:45PM

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Ilan Bracha and 39 East 72nd Street

Ilan Bracha and 39 East 72nd Street

B+B Capital, a real estate investment company co-founded by Keller Williams New York brokers Ilan Bracha and Haim Binstock, has partnered with Mink Development to purchase Gloria Vanderbilt’s former townhouse at 39 East 72nd Street for $19 million.

The six-story Upper East Side landmark, purchased from the Mangold family, which has owned the property since the 1960s, will be reconfigured by the developer team as floor-through condominiums. The project marks the first partnership for the duo.

“We are in the process of selecting an architect for this very special residential building,” Bracha said in a release from B+B. Keller Williams New York was not involved in the sale, a B+B Capital spokesperson told The Real Deal.

Built in 1881, the 27-foot-wide, 14,000-square-foot building currently boasts 18-foot ceilings and an elevator, and is divided into five residences.

The Mangold family first listed the property in 2012 for $25 million, as The Real Deal reported at the time. After broker switches and being put on — and pulled off — the market several times, the townhouse went into contract in March. [NYO] Julie Strickland

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