Nigerian mogul’s One57 apartment connected to money-laundering probe

A Nigerian court has attempted to freeze Kola Aluko's assets, including his $51M penthouse

TRD New York /
Feb.February 25, 2017 04:24 PM
Kola Aluko and One57

Kola Aluko and One57 (credit: Twitter)

Nigerian energy mogul Kola Aluko is $25,000 past due on the property tax bill for his apartment on the 79th floor of One57. But that’s the least of his problems. A Nigerian court recently attempted to freeze Aluko’s assets — including his $51 million apartment at One57 — as part of a money laundering probe.

Aluko bought the 6,240-square-foot apartment in 2014 — shortly after he picked up a unit at 1049 Fifth Avenue for $8.62 million. But now, the African mogul is under investigation in Nigeria and in Europe for alleged money-laundering crimes, according to the New York Post.

However, the investigation has faced the unusual hurdle of being unable to locate Aluko to serve him with papers. Sources told the Post that he is possibly hiding out on his 213-foot yacht, the Galactica Star, possibly in Turkey.

But if his apartment was used in any way to launder funds, One57 developer Gary Barnett isn’t worried.

“All this stuff that’s transportable, like art that you can put on a plane and sell anywhere, is what law enforcement doesn’t want [them to buy]. The yacht’s movable, but he can’t move his condo,” Gary Barnett, who developed One57, explained. [NYP]Christopher Cameron


Related Articles

Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate