The United Arab Emirates is the newest owner of financier Eric J. Gleacher's townhouse at 39 East 74th Street. The country nabbed the meticulously renovated seven-plus bedroom home for $27.25 million after it entered the market for $29.995 million in January 2013. "All the triple-mint houses have been sold out," the home's original broker told the Times in an interview in early 2013, "There is not much inventory. That's why we can basically name a price." Well, clearly that wasn't quite the case with the home's $2.745 million reduction, but the townhouse might not have been so lucky if the Middle Eastern country hadn't come along. The Journal says '80's Wall Street "rainmaker" Gleacher purchased the townhouse for $11.13 million in 2005.
· United Arab Emirates Buys Manhattan Townhouse For $27.75 Million [WSJ]
· All 39 East 74th Street coverage [Curbed]
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