The Real Deal New York

Chetrit, Gluck buy UES towers for $500M

Seller was business partner to real estate tycoon Harry Helmsley

June 20, 2014 04:55PM

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From left: 305 East 86th Street and 160 East 88th Street

From left: 305 East 86th Street and 160 East 88th Street

A partnership between Laurence Gluck’s Stellar Management and the Chetrit Group has paid nearly $500 million for two rental towers on the Upper East Side. The estate of Irving Schneider, late business partner to real estate tycoon Harry Helmsley, is the seller.

Located at 160 East 88th Street and 305 East 86th Street, the two buildings have more than 800 units between them. Neither of the developers responded to the New York Daily News’ requests for comment.

No brokers were involved in the deal, sources told the newspaper. [NYDN] — Julie Strickland

  • highschoolsearch

    Watch out renters in 160 east 88th. Gluck is unscrupulous and will make your life miserable. Get a team of good lawyers and be prepared for a legal fight because he will try to litigate you to death until he gets what he wants from you, which is probably your apartment, especially if your building is rent regulated. I feel bad for you!

  • moneytalks

    How much money does Chetrit have? People may have not noticed it but the guy is involved in billions of Acquisitions and new construction.

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