Penthouse feds seized from fugitive Jho Low finally sells
The former Time Warner Center penthouse of international fugitive and “party boy” Jho Low — accused of masterminding a $4.5 billion theft from the people of Malaysia through a sovereign wealth fund known as 1MDB — has finally sold for $23 million.
That’s far less than its $30.5 million asking price last year and the $30.6 million that Low, a Wharton grad, bought it for back in 2011. The seller is the US government, which seized Low’s US properties last year as part of a record $1 billion asset forfeiture case and since settled with Low, who has denied wrongdoing.
The six-bedroom, 6½-bathroom condo, with 120 feet of Central Park views, has quite the history. Serial real estate buyer and nightlife mogul Michael Hirtenstein, who made a fortune in the telecom business, first bought the penthouse unit for around $16 million in 2005. But he never moved in and instead rented it to music mogul Jay-Z for around $40,000 a month, according to Curbed.
By 2007, Hirtenstein had sold the unit to billionaire Todd Wagner, the partner of “Shark Tank” billionaire, Dallas Mavericks owner and potential presidential candidate Mark Cuban.
The penthouse, at 80 Columbus Circle, has two separate bedroom wings and entertaining space. It opens with a large gallery to a great room that faces Central Park, with a family/library/media space, an informal dining area and a large formal dining room.
There’s also a chef’s kitchen and a master suite with double-door entry, two large walk-in closets and water views. Residents can utilize the luxury amenities of the Mandarin Oriental hotel, including 24-hour concierge, maid service, room service, a gym with a pool and the Mandarin spa. Adam Modlin, of The Modlin Group, had the listing.
The buyer — a wealthy foreigner, we hear — was repped by “Million Dollar Listing New York” reality TV star Ryan Serhant, a broker at Nest Seekers International.
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