The Real Deal New York

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

Five-story property houses 28 apartments, three retail spaces
By Rey Mashayekhi | July 08, 2015 01:35PM

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.