HOUSE OF THE DAY: An Investment Bank Founder Sold His 6-Story Townhouse To The United Arab Emirates For $27 Million

The United Arab Emirates is taking up residence on New York's Upper East Side.

According to the Wall Street Journal, The Permanent Mission of the UAE to the United Nations bought a six-story townhouse for $27.25 million, but declined to say what they would use it for.

The country purchased it from Eric J. Gleacher, founder of Gleacher & Company, a Manhattan boutique investment bank, who originally posted it with Corcoran for $30 million in 2013.

Gleacher founded Lehman Brothers' Merger and Acquisitions department in the 1970s, and then headed up global M&A at Morgan Stanley from 1985 to 1990 before founding his own shop.

The brownstone features seven bedrooms, five bathrooms, two half baths, a chef's kitchen, a formal dining room, a parlor, four working fireplaces, and many outdoor spaces including a roof deck.