A Chinese oil entrepreneur was scooping up Manhattan properties. Then he disappeared.

Companies tied to Ye Jianming had purchased roughly $83M worth of New York properties

TRD New York /
Oct.October 25, 2018 06:00 PM

Companies with connections to Chinese oil entrepreneur Ye Jianming spent about $83 million on New York City properties and planned to buy $80 million more before Ye’s mysterious disappearance earlier this year.

The deals included purchasing a penthouse from a former Wall Street banker and buying a townhouse from a billionaire close to President Trump, according to the Wall Street Journal. Companies tied to Ye also bought the penthouse of former Barclays Chief Executive Bob Diamond in 2017 for $50.55 million, along with an apartment at 432 Park Avenue for about $33 million.

In December, a company tied to Ye went under contract to buy billionaire Vincent Viola’s $80 million townhouse at 12 East 69th Street, which would have set a record at the time for New York’s most expensive residential townhouse ever.

However, Ye went missing early in 2018, and the deal fell apart around the same time. Viola’s house was put back on the market for $88 million.

Ye chairs a conglomerate based in Shanghai called CEFC China Energy, which aggressively expanded abroad in recent years. However, the company is now selling assets and unwinding deals as Ye’s whereabouts are still unknown. [WSJ] – Eddie Small

Related Articles

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

56 Leonard Street (Credit: iStock)

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit

Due to relatively high income levels and low transportation costs, New York City is the eight most affordable of 20 major cities (Credit: iStock)

NYC is the 8th most affordable big city in America*

53 West 53rd Street, 885 Park Avenue, 70 West 45th Street (Credit: StreetEasy)

Five priciest homes to hit the market last week all over $22M