South African insurance mogul Adrian Gore buys 737 Park condo for $11M

Jan.January 06, 2014 05:28 PM

South African multimillionaire Adrian Gore, founder of global health insurance provider Discovery Limited, picked up a new condominium at Macklowe Properties’ 737 Park Avenue for $11.45 million, according to property records filed with the city today.

The three-bedroom, three-bathroom unit on the 15th floor was asking $12.5 million. It has been in contract since April, according to StreetEasy. The apartment has 2,915 square feet and is a combination of two units. There is also a powder room, heated flooring in the master bedroom, and a Varenna eat-in kitchen.

Gore’s attorney Peter Rosenberg and Jarrett White, marketing director for Macklowe, respectively declined to comment.

Macklowe bought the prewar Upper East Side site with Los Angeles-based private equity firm CIM Group in August 2011 for $360 million, then converted the property into high-end condos. The 21-story, 60-unit property at East 71st Street features a fitness center, bicycle storage and a live-in superintendent.

The building secured more than $250 million in sales as of November. It has been in the thick of several lawsuits involving long-term rental tenants in the building, including one who allegedly ran a bed and breakfast from her apartment and another who Macklowe aimed to evict for allegedly limiting construction.

As of 2011, Gore was named the 34th wealthiest person in Africa with a net worth of $280 million, according to Forbes magazine’s annual list. Discovery is best known for its incentive-based Vitality healthcare program, which rewards members with inexpensive flights and discounts for those who regularly visit the gym and eat vegetables.

Also in 2011, Gore purchased a penthouse condo at the Related Companies’ 22-story tower the Brompton, at 205 East 85th Street, for $6.1 million, property records show.

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