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

New York /
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.


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
 Jeff Blau and One Ocean (Getty)

Related Cos. CEO Jeff Blau sells Miami Beach condo

Related Cos. CEO Jeff Blau sells Miami Beach condo
Phillips Point office towers with Related's Stephen Ross (JLL, Getty)

Related makes big bet on South Florida office market

Related makes big bet on South Florida office market
Clockwise from left: Richard LeFrak, Related chairman Stephen Ross, A&E's Douglas Eisenberg, Cammeby’s International Group founder Rubin Schron and Blackstone president Jonathan Gray (Getty, iStock)

These are NYC’s largest rental landlords of 2020

These are NYC’s largest rental landlords of 2020
Renderings of the "city within a city" concept outside central London. (Brent Cross Town)

Related is all in on “15-minute city” in London

Related is all in on “15-minute city” in London
Related chairman Stephen Ross and 265-475 Cherry Street (Getty; Google Maps)

Related to buy Section 8 buildings for $435M

Related to buy Section 8 buildings for $435M
Related's Steve Ross and 1 Union Square South (Getty, Google Maps)

MKF Realty set to close on Related’s Union Square high-rise for $200M

MKF Realty set to close on Related’s Union Square high-rise for $200M
Related chairman Stephen Ross (Getty; iStock; Health Pass) 

Related, Cushman & Wakefield use new app to screen workers for Covid

Related, Cushman & Wakefield use new app to screen workers for Covid
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...