The Real Deal New York

Glenn Rufrano to convert Wellington into condos

241,000-square-foot building on East 62nd Street to accept new residents by late 2015

May 07, 2014 03:13PM

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Glenn Rufrano and 200 East 62nd Street

O’Connor Capital Partners, led by Cushman & Wakefield alum Glenn Rufrano, is looking to convert the 120-unit rental building the Wellington into a high-end condominium property.

Last month, O’Connor signed a contract to buy the 241,000-square-foot building at 200 East 62nd Street from the California Public Employees’ Retirement System and GID, as The Real Deal reported. Private equity firm the Blackstone Group had financed the deal.

Plans call for residents to begin moving into the converted space by the end of 2015. Current tenants can either purchase their unit or prepare to move out when their lease is up. Rent-stabilized residents will not face eviction, the New York Daily News reported. [NYDN]Mark Maurer

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