The Real Deal New York

Does a Middle Eastern businesswoman own the One57 unit facing foreclosure?

Sheri Izadpanah reportedly bought the $21.4M condo in 2015
June 08, 2017 10:30AM

One57 at 157 West 57th Street (Credit: Getty Images)

International businesswoman Sheri Izadpanah may be the owner of the luxury condominium at One57 TRData LogoTINY that’s become the first pad on Billionaires’ Row to face foreclosure.

Izadpanah, who snagged the apartment two years ago, operates a high-end lifestyle concierge company in Dubai called Louis Fourteen, the New York Post reported. She is also the associate editor of a Dubai fashion magazine, Mojeh. The magazine was founded by Iranian socialite Mojeh Izadpanah, who may be a relative, according to the Post.

The June 14 foreclosure auction is a rarity in the world of uber-luxury pads and at One57, which is home to the city’s most expensive apartment, the $100.5 million penthouse.

According to the Post, Izadpanah may have purchased unit 56C through an LLC called Central Park Immobilier, which paid $21.4 million in 2015, property records show. There’s a lien on the property for $20.9 million plus interest and costs. Larry Tetelman, an attorney for Central Park Immobilier, declined to comment.

The four-bedroom pad, which measures 3,466 square feet, has been on the market for more than a year with an asking price of $22.5 million. Platinum Properties’ Khashy Eyn is marketing the pad with Cash Bernard. [NYP]E.B. Solomont

(To view residential sales transactions at One57, click here)