Eliot Spitzer Strikes Quiet Deal For Stamford Parcels

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Eliot Spitzer is crossing over to Connecticut for a development project shrouded in mystery.

Spitzer Enterprises — the real estate firm helmed by the former governor of New York — purchased several contiguous parcels close to the Stamford train station, CT Insider reported. The purchase price was not disclosed and public records didn’t include the purchase prices of 495 Pacific Street and 560 Atlantic Street.

A representative of Spitzer’s firm confirmed the series of real estate purchases to the outlet and tipped the plan of apartment development, but said little more.

The lots — which are also tied to Garden Street — were largely demolished before the pandemic, leaving them vacant for years. That could give Spitzer leeway for development. The projects don’t appear on upcoming agendas for the city’s planning and zoning boards.

Spitzer could not immediately be reached for further comment by The Real Deal.

Don Corbo, who brokered the sale to Spitzer, pointed to the importance of the “transit-oriented zone” and said architectural plans were in the works for a “big” finished project.

Spitzer’s never shown any fear of a large project, though. Or a large fight.

In 2023, Spitzer received the green light from the Landmarks Preservation Commission to demolish an existing property at 985 Fifth Avenue in Manhattan to develop a 19-story luxury condo building with 26 units.

While the property was able to be built as-of-right, the co-op board of the neighboring property filed an adverse possession lawsuit over a pit on the south side of Spitzer’s property, arguing that it had been a storage site for more than a decade.

More recently, Miki Naftali agreed to buy Spitzer’s rental tower at 800 Fifth Avenue on the Upper East Side for more than $800 million.

Demand for rental space is strong in Stamford, which is along the Metro North, but also has its own office and retail corridors. Rents are expected to rise by 4 percent this year in Stamford, according to a recent report from Marcus & Millichap.

— Holden Walter-Warner