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Oil tycoon's One57 pad is back on the auction block

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After a brief sting on the market, the four-bedroom condo is scheduled for auction in November

It was only a month ago that the full-floor One57 pad owned by Nigerian oil tycoon Kola Aluko was nearly spared from the auction block, as it hit the market for the discounted price of $39 million. But the latest attempt to sell the apartment didn’t pan out, and it’s once again scheduled for a foreclosure auction, reports Crain’s.

The 79th-floor condo, purchased in 2015 for $50.9 million, was originally due to come up for auction in July, but the proceedings were delayed after a new creditor came forth with claims that Aluko owed $83 million worth of unpaid gasoline and jet fuel.

Aluko, who is under investigation in both Nigeria and Europe for money laundering, reportedly defaulted on a $35.3 million mortgage from a Luxembourg-based bank and has allegedly been hiding out on one of his yachts.

When the initial foreclosure auction was postponed, the apartment was listed on the market in the hopes that a “motivated seller” would go for its relatively low price, but the home failed to attract a buyer quick enough. This time around, the apartment is set to be auctioned off on Wednesday, November 8.

Here’s its floorplan one more time:


157 West 57th Street, Manhattan, NY 10019 Visit Website