Super Rich, LLC

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

TRD 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

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Extell Development chairman Gary Barnett and One Manhattan Square (Credit: Anuja Shakya, StreetEasy)

Rent now, buy later at Extell’s One Manhattan Square

206 West 17th Street, 116 7th Avenue, and Extell Development’s Gary Barnett (Credit: Google Maps)

What rich people in NYC will pay to keep their view: TRD analysis

Extell Development's Gary Barnett (Credit: Getty Images and iStock)

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

José Cuervo owner Juan Beckmann Vidal and 1010 Park Avenue (Credit: Getty Images, StreetEasy)

Mexican billionaire buys Park Ave pad for $25M amid shopping spree

From left: 241 East 73rd Street, 1514-1528 First Avenue, and Extell Development's Gary Barnett (Credit: Google Maps)

Here’s what the $10M–$20M NYC investment sales market looked like last week

Central Park Tower

Extell just went public with Central Park Tower listings

arrow_forward_ios