The Real Deal New York

UAE picks up Eric Gleacher’s townhouse for $27M

Seven-bedroom pad sold in off-market deal that closed Tuesday
July 09, 2014 02:35PM

The Permanent Mission of the United Arab Emirates to the United Nations has paid $27.25 million for an Upper East Side townhouse at 39 East 74th Street.

The UAE bought the 6,700-square-foot brick townhouse from financier Eric Gleacher, the former chairman of independent investment bank Gleacher & Co., the Wall Street Journal reported. The home has seven bedrooms, five full and two half bathrooms, and was originally listed with Corcoran’s Carrie Chiang in January 2013 for $29.9 million. The price fell to $27.5 million a few months later, and the listing was taken off the market in October. The UAE’s purchase closed last Tuesday in an off-market transaction, handled by Steven Cohen of the Corcoran Group.

The Mission declined to tell the Journal what it plans to use the property for. Gleacher, who resigned his post as chairman of Gleacher & Co. in January 2013, could not be reached for comment. [WSJ]Julie Strickland