Super Rich, LLC

Multimillion-dollar buyers get creative with names of limited liability companies

New York /
Apr.April 29, 2015 04:50 PM

Maybe Platinum Hideaway and Hebrews 3:4 will run into each other in the elevator of Extell Development’s glitzy One57. Pac Wholly Own could knock on Escape from New York’s door for a cup of sugar.

Weird names, you say? They’re just they’re some of the monikers wealthy investors have used for the limited liability companies through which they purchase some of New York’s priciest pads.

In a deal that was recorded with the city Wednesday, a 55th-floor pad at One57 was purchased for $22 million by one Platinum Hideaway LLC.

Documents of a 2010 purchase — a $2.2 million condo at 247 West 46th Street — by the same LLC indicated that Rick Edelman, the chief executive officer of Virginia-based Edelman Financial Services, could be the buyer of the unit.

Unit 55C at Extell Development’s One57 spans 3,466 square feet and includes four bedrooms and 4.5 bathrooms.

But Platinum Hideaway — not the most politically correct name in a city where LLCs are criticized for masking’ rich investors’ identities — is not the only creative entity out there. (Less exciting pseudonyms behind LLCs at the tower include names such as Cm157 LLC, 44B LLC, NYC Condo LLC and Oceana 57 LLC.)

Last week, a mysterious entity under the name “Hebrews 3:4 LLC” purchased a unit on the 53rd floor. The name refers to a sentence from the New Testament: “For every house is built by someone” — in this case by Extell’s Gary Barnett — “but God is the builder of everything.”


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Extell lands $690M refinancing package for One Manhattan Square
Extell Development's Gary Barnett (Credit: Getty Images and iStock)

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Central Park Tower

Extell just went public with Central Park Tower listings

Extell just went public with Central Park Tower listings
Extell Development's Gary Barnett and 32 West 48th Street (Google Maps)

Extell makes its Diamond District hotel official

Extell makes its Diamond District hotel official
Joseph Tabak

Portrait of a deal junkie: The Joseph Tabak story

Portrait of a deal junkie: The Joseph Tabak story
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
Lanhee Yung and Sush Torgalkar (Photos via Cornell; Getty)

Extell, Starwood alums seek $500M for “contrarian” investing

Extell, Starwood alums seek $500M for “contrarian” investing
Extell's Gary Barnett and a rendering of 50 West 66th Street (Courtesy of Snøhetta)

Judge throws cold water on Extell’s UWS condo development

Judge throws cold water on Extell’s UWS condo development
arrow_forward_ios

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

Loading...