The Real Deal New York

Townhouse near Michael Bloomberg’s UES mansion sells for $28M

Developer Matthew Adell buys the five-story home at 27 East 79th Street
By Dusica Sue Malesevic | April 13, 2016 06:10PM


From left: 27 East 79th Street on the Upper East Side and Michael Bloomberg

Michael Bloomberg is about to get a new neighbor.

Developer Matthew Adell bought the townhouse at 27 East 79th Street for $28 million, according to property records filed with the city Wednesday. The five-story townhouse is three doors down from the former New York City mayor’s mansion at 17 East 79th Street between Fifth and Madison avenues on the Upper East Side.

This is the second time the 5,760-square-foot home at 27 East 79th Street traded hands in the past year. In March 2015, investor Orin Portnoy purchased the property for $15.7 million from Thomas Reynolds.

The property spans 24,520 buildable square feet.

Adell owns Adellco, which has developed properties such as the Capitol, a 38-story, 387-unit rental tower at 55 West 26th Street in Chelsea. Adell was not immediately available for comment.

Adell is affiliated with the entity, 27E79 Property LLC, which acquired the building. He declined to comment through a rep.

Bloomberg has been buying up units at next door 19 East 79th Street since the late 1980s. The billionaire now owns five of the six units at the townhouse co-op.