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Oil tycoon’s One57 penthouse sells at auction for $36M

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The previous owner of the apartment is embroiled in a money laundering scheme

Skyscrapers and city buildings at sunset. Shutterstock

Beleaguered Nigerian oil tycoon Kola Aluko’s One57 penthouse has finally found a buyer. After news emerged in October that the 79th floor apartment was going to go back on the auction block, an unnamed buyer finally scored the apartment at a foreclosure auction for $36 million, Bloomberg reports.

Aluko purchased the sprawling penthouse on Billionaires’ Row in 2014 for $51 million. He has since however defaulted on mortgage and tax payments on the property, and become embroiled in a money laundering scheme.

The apartment was initially set to go on the auction block in July, but it was postponed after another one of Aluko’s creditors came forward demanding repayment for jet fuel and gasoline worth $83 million.

There was even an attempted sale on the property in September. The $39 million price didn’t not bring out any interested buyers, and so it was back to the auction block. Now perhaps the new owner can finally turn around the misfortunes of this pad.


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