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