Real Estate
Eliot Spitzer Sells UES Building For $160M, Report Says
The disgraced governor's father developed the East 72nd Street apartment building in the 1970s. New owners plan to modernize it.
UPPER EAST SIDE, NY — Eliot Spitzer may have resigned from New York's governorship in disgrace, but his tenure with the family development firms is proving valuable. The former politician's firm recently sold an Upper East Side building developed by his father in the 70s for a whopping $160 million, according to reports.
Spitzer Enterprises offloaded the 147-unitdevelopment at 220 E. 72nd St. to a new ownership group led by the Dermot Company, the Real Deal first reported. The building's new owners plan to modernize the building through renovations and upgrades, according to the report.
"The Spitzer family built an incredible building and did an impressive job maintaining it for many years," Dermot's Managing Director Andrew Levison told the Real Deal.
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Spitzer's father Bernard Spitzer, a prolific real estate developer, built the 28-story East 72nd Street apartment tower, located between Second and Third avenues, in 1975 as a mixed-used building with apartments and program space for nearby Marymount Manhattan College.
The former governor has sold off some of the family firm's older buildings since taking over in 2014 to finance new developments, the Real Deal reported.
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