A view from Trump Place at 240 Riverside Blvd (photo: Street Easy)

Saudi Prince Sells Lavish Trump Place Apartment for $36 Million

Views: 310

A Saudi prince has sold off a lavish Manhattan triplex apartment 10 boasting a jellyfish tank and panic room, at a Trump-branded building for $36 million, Mansion Global has reported.

Prince Nawaf bin Sultan Abdulaziz Al-Saud finally sold his Trump Place apartment at 240 Riverside for $36 million, after putting it on the market for $75 million back in 2012. The price was initially slashed to $48 million in 2015, The Real Deal Reported.

The final listing agents to clinch the deal were Elizabeth Mercedes Berk and Noel Berk of Engel & Volkers New York Real Estate.

Prince Nawaf, who is one of the late Crown Prince Sultan bin Abdulaziz’s 32 children, bought the first of eight units at the building on Riverside Boulevard for $1.65 million in 2007. He soon purchased 7 more units in the building for around $25 million. He combined six of the eight units into a palatial triplex.

The home has a restaurant-style kitchen with its own sushi bar, a relaxation room, three private terraces and a fitness center, Mansion Global explained. There is also a bullet proof panic room and a rain fountain that doubles as a hot tub. The other 2 Units house the prince’s staff.

The buyer is listed in records only as a shell company named after the home’s address, according to real estate records.

The Saudi Royal family, who rule Saudi Arabia, known notoriously for being lavish spenders, have been under the micro scope after an anti-corruption campaign was waged by Crown Prince Mohammed bin Salman in November. Bin Salman’s campaign has sought hundreds of millions of dollars held by various members of the royal family, including from Prince Alwaleed bin Talal, one of the world’s richest men and minority owner of the Plaza hotel, who until recently was imprisoned at the Ritz Carlton Hotel in Riyadh, Real Deal reported.

Last fall, with very little publicity, another Saudi Royal Family member, placed a 7-acre Beverly Hills complex on the market for $85 million.

In other interesting developments relating to the Saudi Royal Family & US real estate, in late October it was announced that Sheikh Fahad M.S. Al Athel invested $35 million into converting a Boston Landmark into high end apartments; the Ames Webster mansion is known for its intricately detailed interior.

By R.Kotkin

 

LEAVE A REPLY

Your email address will not be published. Required fields are marked with *

YOU MAY ALSO LIKE

INTERNATIONAL NEWS