“King of Gambling” kin sells Trump Pl. condo

TRD New York /
Oct.October 06, 2010 06:30 PM

By Lauren Elkies and Amy Tennery

From left: Faye Ho, Stanley Ho, the apartment at 240 Riverside Boulevard and agent Trevor Moran
 

The granddaughter of one of the wealthiest men in Asia has sold her Upper West Side condominium unit at Trump Place, sources said.

Faye Ho, granddaughter of Stanley Ho, a Hong Kong gambling tycoon who has been on Forbes’ list of the world’s richest people, sold the duplex in the Heritage, at 240 Riverside Boulevard, to Vestar Capital Partners managing director Roger Holstein, according to sources and Streeteasy.com. The sale closed Sept. 16 for $6 million, according to city documents, and was recorded with the city last Wednesday.

Faye, an animal rights activist, holds leadership roles with numerous Macau-based charitable organizations, including the Macau Children’s Association, Macau Charity Association and Macau’s chapter of the Society for the Protection of Animals.

Her grandfather, Stanley, is sometimes referred to as the “King of Gambling,” noted for his vast holdings in the gaming industry in Macau and Hong Kong. Stanley is also recognized for his involvement in the real estate industry — he’s been the president of the Real Estate Developers Association in Hong Kong for 26 years and he made waves early last year when he purchased the Mandarin Oriental hotel in Macau for $205 million.

The 12th- and 14th- floor unit Holstein bought is 2,961 square feet with a 326-square-foot terrace and unobstructed views of the Hudson River, said Trevor Moran, president of the Truss Group, who represented the buyer and is the building’s main resident broker. He declined to comment about the identities of the buyer and seller.

Located between 71st and 72nd streets, the Heritage is comprised of a 15-story lower pavilion and a tower that extends to the 33rd floor. The four-bedroom, four-bathroom unit is one of three duplexes in the 150-unit building, Moran said.

The seller’s brokers, Gabriele Devlin and Lee Summers from Sotheby’s International Realty, did not respond to requests for comment.

Ho and her grandfather were not immediately reachable for comment and Ho’s attorney on the deal, Richard Klee of Kalnick Klee and Green, did not respond to requests for comment.

 

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