Nicola Bulgari accuses Barbizon Hotel board of “abuse” for making him wait on condo renovation

City has a moratorium on major renovations

TRD New York /
Oct.October 31, 2016 09:40 AM
Nicola Bulgari and The Barbizon at 140 East 63rd Street

Nicola Bulgari (credit: Getty) and The Barbizon at 140 East 63rd Street

Billionaire jeweler Nicola Bulgari wants his luxury duplex right now, but the mean condo board says he has to wait.

Bulgari is suing the Barbizon Hotel for “abuse” because he has to wait to combine his penthouse with another unit, the New York Post reported. The building at 140 East 63rd Street is undergoing a condo conversion, but the city prevents any major renovations — like combining two units to form a duplex — until all the units are converted.

This doesn’t sit well with Bulgari. He claims that he only bought the second apartment in the building because the board promised him that he could easily combine the unit with his penthouse.

“The second apartment is essentially rendered useless to [Bulgari] if it cannot be combined with the first apartment,” the mogul’s lawyers claim in the lawsuit. “Preventing a 75-year-old man from years of the full use of his residence is irreparable and this court has the power to stop this abuse.”

Property records show that Bulgari bought the penthouse for $12.8 million and the unit below it for $7.5 million.

The developer, Barbizone Hotel Associates L.P., asserts that progress at the building has been held up by an unsold unit and Second Avenue subway work. The condo conversion of the 23-story hotel began in 2007. [NYP] — Kathryn Brenzel 

Related Articles

Gale Brewer proposes women’s jail at Lincoln Correctional Facility (Credit: Getty Images and iStock)

Gale Brewer wants to turn “prime, trophy real estate” into women’s jail

David Bistricer and 21 West 86th Street (Credit: Studio Scrivo, Google Maps)

Clipper Equity plans $204M conversion of UWS rental

Centurion shooting for $403M sellout with UWS condo conversion

Shvo, partners to convert 685 Fifth Avenue into Mandarin Oriental condos

GreenOak, Slate secure financing for $90M UWS condo conversion

Louis Greco’s plan to stack condos on top of 285 Schermerhorn finally moves forward

GreenOak shoots for $90M sellout at UWS condo conversion

SCG America buys out Kuafu’s MiMA stake