The Real Deal New York

Heiress with a taste for real estate revealed as buyer of Sting’s $50M pad

Musician listed the apartment at 15 CPW for $56M
May 08, 2018 02:50PM

Karen Lo

Karen Lo and 15 Central Park West

Is anyone in Hong Kong more obsessed with U.S. real estate than Karen Lo? The beverage heiress with a penchant for striking big deals from California to New York was revealed as the buyer of Sting’s $50 million pad at 15 Central Park West.

According to the Wall Street Journal, Lo, whose family founded Vitasoy, used an LLC to purchase the four-bedroom, 5,400-square-foot unit last month. The two-story pad on the 16th and 17th floors has sweeping views of Central Park. It was listed for $56 million.

It’s a good return for Sting and his wife, who paid $26.98 million for the unit in 2008. The British rock legend made several refurbishments to the unit, including two spiral staircases.

Lo has made several high-priced purchases over U.S. real estate in recent years. She is trying to flip a huge Chelsea condo for $36.5 million at $4,371 per foot in March. The 8,350-square-foot pad at 551 West 21st Street had previously been two units that she consolidated. Last year, she spent $69.9 million on a Malibu compound in Los Angeles.

Former Brown Harris Stevens agent Erin Boisson Aries — who’s now at Christie’s International Real Estate) — represented Lo in the transaction.  The Corcoran Group’s Deborah Kern had the listing.  [WSJ] — David Jeans