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.
- One57 Penthouse Sold in New York's Biggest Foreclosure Auction [Bloomberg]
- Oil tycoon's One57 pad is back on the auction block [Curbed]
- Oil tycoon's One57 pad returns for $39M after foreclosure attempts stall [Curbed]