The Real Deal New York

Turkish billionaire pays $11M for second Plaza unit

October 01, 2009 12:28PM
By Adam Pincus

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The Plaza hotel and Turkish billionaire Turgay Ciner

A self-made billionaire from Turkey bought his second unit at the Plaza, this time paying $10.725 million for a 2,791-square-foot foot condominium two stories below his first apartment.

Turgay Ciner closed on the purchase of the three-bedroom unit at the rehabilitated condo and hotel building at 768 Fifth Avenue, Sept. 22, after going into contract in July, city property records published today show.

The seller of the 15th-floor unit is identified as Bathhurst Properties LLC, which paid $14.27 million for the unit in March 2008. A week later, the unit was first listed for $20.75 million, and the price was cut several times before the closing.

Forbes magazine named Ciner, who owns power plants as well as copper, aluminum and soda ash mines in Turkey, as one of the world’s richest people.

Ciner bought a 2,203-square-foot sponsor unit with two bedrooms on the 17th floor in January 2008 for $9.16 million, city records show. He still owns the
unit, according to the documents.

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