SL Green buys Walter & Samuels’ UES rental building for $27M

Five-story property houses 28 apartments, three retail spaces

TRD New York /
Jul.July 08, 2015 01:35 PM

SL Green Realty purchased a mixed-use Upper East Side residential building at 260 East 72nd Street for $27.1 million, according to property records filed Wednesday with the city.

The five-story, 26,800-square-foot rental building, Also Known As 1359 Second Avenue, houses 28 apartments and three retail units.

SL Green acquired the property from real estate firm Walter & Samuels, which owned the building in partnership with George Gellert, chair and CEO of food importer Gellert Global Group. Gellert sold his share for $24.5 million, with Walter & Samuels selling the remaining stake for $2.6 million.

Walter & Samuels bought the building from Vanmarc Realty for $20 million in 2007, according to property records.

Neither SL Green nor Walter & Samuels returned requests for comment, while Gellert declined to comment on the transaction. Retail brokerage Winick Realty Group, which had the listing according to its website, could not be reached for comment.

Walter & Samuels chair David Berley recently acquired a Beaux Arts building at 160 Lexington Avenue in Kips Bay for $24.5 million, while SL Green said it intends to sell $1.1 billion worth of properties to finance its acquisition of 11 Madison Avenue.

Related Articles

The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green snags private-equity firm at
One Vanderbilt

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

Jacob Chetrit buying Daily News building from SL Green for $815M

Luca Orlandi and Felipe Dutra (Credit: Getty Images and Google Maps)

Designer Luca Orlandi sells UES townhouse for $27M

From left: 2785 Broadway, 521 Bergen Avenue in the Bronx, and 1685 First Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

The Real Deal takes a look at the calls made to NYC’s 311 hotline over the past year. (Credit: iStock)

What NYC tenants complain about the most by neighborhood

21 East 63rd Street (Credit: Compass)

The Chopard Mansion is on the market for $40M