After escaping foreclosure, One57 pad asks $39M — a $13M loss

Owner Kola Aluko is being investigated for money laundering

TRD New York /
Sep.September 20, 2017 09:00 AM

Kola Aluko and One57 (Credit: Twitter and One57)

A luxury pad at One57 that escaped the auction block in July is back on the market for $39 million — nearly $13 million less than the owner paid.

Nigerian billionaire Kola Aluko, who is being investigated for money laundering in Nigeria and Europe, defaulted on a $35.3 million mortgage he took on the 79th floor condominium in 2015. His Luxenbourg-based lender moved to foreclose, but a sales auction was put on hold in July after a new creditor surfaced, saying it was owed $83 million for gasoline and jet fuel.

The 6,240-square-foot unit has four bedrooms and four-and-a-half baths. The new asking price works out to $6,250 per square foot.

Aluko — who allegedly was involved in money-laundering schemes in Nigeria and Europe — shelled out $51.9 million for the apartment in 2014.

“It is now being sold by a third party as an alternative to foreclosure,” a source told the New York Post. Aluko reportedly has “nothing to do” with the sale.

Compass’ Ali Jafri has the listing.

“Motivated seller!” reads the listing description. “A once in a lifetime investment opportunity to purchase the last remaining full floor residence at Manhattan’s New Crown Jewel, One 57 Condominium, for a great value!”

According to the Department of Justice, Aluko laundered money by purchasing $144 million worth of real estate, including the penthouse, as well as an $80 million yacht, the Galactica Star. [NYP]– E.B. Solomont


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