Westfield heir bought oil tycoon’s One57 condo at foreclosure auction

He's listed another unit for $27M

From left: David Lowy, One57 and Kola Aluko (Credit: One57 and Twitter)
From left: David Lowy, One57 and Kola Aluko (Credit: One57 and Twitter)

It looks like retail heir David Lowy is the buyer of Nigerian oil tycoon Kola Aluko’s $36 million condominium at One57.

Lowy, the son of Westfield Corp. founder Frank Lowy, purchased the 6,240-square-foot unit at a foreclosure auction earlier this month, but the buyer’s identity wasn’t clear at the time. The Wall Street Journal reports that Lowy controls the LLC that bought the unit.

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Aluko, who is being investigated for money laundering in Nigeria and Europe, bought the 79th-floor unit for $50.9 million in 2014. But he defaulted on a $35.3 million mortgage he took on the condo in 2015.

Lowy owns another unit in the building on a lower floor and after his latest purchase, has listed it for $27 million. [WSJ]Kathryn Brenzel