Salt Equities Buys Two UES Buildings for $22 Million
Lauren Elkies Schram July 16, 2015, 6:32 p.m.
Nine-year-old Salt Equities has purchased two Upper East Side buildings from The Mildred G. Thaler Cohen Family Limited Partnership for $22 million, Commercial Observer has learned.
Salt Equities, founded in 2006 by Sal Smeke and Michael Wahba, purchased 28 East 72nd Street between Park and Madison Avenues and 1403 Second Avenue at East 73rd Street. Ralph Lauren occupies the basement of the East 72nd Street building, which is next to the Ralph Lauren men’s store at 867 Madison Avenue.
Both buildings are five-story mixed-use walk-up rental buildings. The new owner is planning an asset repositioning, a source said.
Mr. Smeke didn’t immediately respond to a request for comment. CBRE’s Edward “Ned” Midgely, Tim Sheehan, Daniel Kaplan and David McCuiston represented the seller. Mr. Kaplan He wasn’t immediately reachable. Itan Rahmani and Jeremy Aidan of Venture Capital Properties represented Salt Equities in the deal. They declined to comment.