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.