Billionaire Wilbur Ross finally got into River House

He had been rejected by the notoriously choosy co-op board

TRD New York /
Nov.November 19, 2015 03:48 PM

From Luxury Listings NYC: This story is for everyone who was ever rejected from a club or social group or lunch table. The co-op board of the River House, An Art Deco Building Off The East River On 52nd Street once rejected the billionaire Wilbur Ross Jr. in the mid-1990s from buying an apartment. Now, he’s back for revenge and has just purchased a beleaguered apartment in the building with his wife Hilary Geary for $7.8 million.

The apartment was the home for 46-years of Arlene Farkas, who was engaged in a nasty battle for it for 18 years with her ex-husband (the heir to the Alexander department store chain, Bruce Farkas). She listed the home in 2008 for $15 million, but the co-op board kept rejecting everyone who put a bid on it. Finally, she had to declare bankruptcy in February, allowing Ross to swoop in And Buy The Place for almost half of the original asking price. [more]


Related Articles

arrow_forward_ios

Uma Thurman weighs selling her co-op at River House

Wilbur Ross sold his Billionaires’ Row penthouse for a loss

Wilbur Ross’ Midtown penthouse still sitting on market

Bargain hunting: 7 noteworthy price chops in NYC real estate

Arlene Farkas files for bankruptcy to save River House pad

Foreign diplomats struggle to find foothold in NYC real estate

Arlene Farkas asks lenders to halt sale of her River House unit

Arlene Farkas’ 14-room duplex headed to auction block

arrow_forward_ios