M&A bigwig Yoel Zaoui buys at 520 Park

4,600-square-foot pad sold for $25.9M

TRD New York /
Jun.June 27, 2019 01:30 PM
520 Park Avenue and Yoel Zaoui

520 Park Avenue and Yoel Zaoui

French investment banker Yoel Zaoui is the buyer of a 30th-floor condominium at 520 Park, according to sources familiar with luxury supertall.

Zaoui and his brother, Michael, are known as powerful M&A specialists who’ve been part of large-scale transactions since forming the boutique advisory Zaoui & Co. in 2013.

Property records show the buyer of the 4,600-square-foot unit paid $25.9 million, or $5,630 per foot, in November 2018. EMMDA LLC went into contract in June 2015. Zaoui did not respond to a request for comment.

Yoel and Michael Zaoui, who were born in Morocco, are legends in the banking world, where they once worked for rivals Morgan Stanley and Goldman Sachs. According to a Vanity Fair profile, each headed the European M&A divisions for their respective employers (Michael at Morgan, Yoel at Goldman) and often found themselves on opposite sides of deals.

At Zaoui & Co., the brothers took part in a blockbuster deal in which cosmetics giant L’Oréal agreed to buy back 8 percent of itself from Nestlé. Zaoui & Co. advised the Bettencourt-Meyers family, which started L’Oréal.

At 520 Park, Yoel Zaoui joins neighbors James Dyson, the vacuum cleaning mogul who bought a penthouse for $73.8 million, as well as billionaire Frank Fertitta and investment banker Ken Moelis.

Former Barclays CEO Bob Diamond, infomercial magnate Jay “Jeff” Kurani and PR exec Ronn Torossian are also residents of the building.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(iStock)

Real estate stocks end week mixed as virus fears rise and markets fall

Real estate stocks end week mixed as virus fears rise and markets fall
CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty)

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market
Planet Hollywood in Times Square and Vornado CEO Steven Roth (Photos via Getty; VNO)

Vornado sues Planet Hollywood for $6M in missed rent

Vornado sues Planet Hollywood for $6M in missed rent
Marisa Hochberg (Getty)

Montauk squatting dispute ties influencer to Cuomo

Montauk squatting dispute ties influencer to Cuomo
Redfin CEO Glenn Kelman (Photos via Redfin; Getty)

Redfin accused of redlining in lawsuit

Redfin accused of redlining in lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...