It’s Maid in Manhattan — Qatari style. The Middle Eastern nation reportedly bought billionaire Andrew Farkas’ mansion on the Upper East Side for $41 million, and plans to use it exclusively for the help.
The townhouse at 12 East 73rd Street backs up to a megamansion that the Qataris bought from Lycee Francais in 2002.
“Andrew spent no expense renovating the place, but apparently it will be used for maids’ quarters,” a source told the New York Post. “The Upper East Side townhouse market is slow. If he’d sold it on the open market, he’d have [gotten] $20 million for it.”
Qatar paid $26 million for 7-9 East 72nd Street after the French private school relocated. The nation combined the two properties into a single, royal abode that reportedly will be the New York home of Princess Sheikha Mayassa Bint Hamad Al Thani. In addition to multiple bedrooms and foyers to house the princess’ art collection, the mansion has an indoor swimming pool and an 8,500-square-foot Roof Terrace.
Earlier this month, five Arab countries formally cut off ties with the country. It could lead to the royal family to place bigger bets in New York, where its sovereign wealth fund is already the ninth-largest commercial property owner.
In March, TRD exclusively reported that Sheikh Hamad Bin Jassim Bin Jaber al-Thani, a former prime minister, is the main equity behind Macklowe’s One Wall Street condo conversion, as well as the retail element at 432 Park Avenue. [NYP] — E.B. Solomont