After escaping foreclosure, One57 pad asks $39M — a $13M loss

Owner Kola Aluko is being investigated for money laundering

A luxury pad at One57 that escaped the auction block in July is back on the market for $39 million — nearly $13 million less than the owner paid.

Nigerian billionaire Kola Aluko, who is being investigated for money laundering in Nigeria and Europe, defaulted on a $35.3 million mortgage he took on the 79th floor condominium in 2015. His Luxenbourg-based lender moved to foreclose, but a sales auction was put on hold in July after a new creditor surfaced, saying it was owed $83 million for gasoline and jet fuel.

The 6,240-square-foot unit has four bedrooms and four-and-a-half baths. The new asking price works out to $6,250 per square foot.

Aluko — who allegedly was involved in money-laundering schemes in Nigeria and Europe — shelled out $51.9 million for the apartment in 2014.

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“It is now being sold by a third party as an alternative to foreclosure,” a source told the New York Post. Aluko reportedly has “nothing to do” with the sale.

Compass’ Ali Jafri has the listing.

“Motivated seller!” reads the listing description. “A once in a lifetime investment opportunity to purchase the last remaining full floor residence at Manhattan’s New Crown Jewel, One 57 Condominium, for a great value!”

According to the Department of Justice, Aluko laundered money by purchasing $144 million worth of real estate, including the penthouse, as well as an $80 million yacht, the Galactica Star. [NYP]– E.B. Solomont

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After escaping foreclosure, One57 pad asks $39M — a $13M loss

Owner Kola Aluko is being investigated for money laundering

A luxury pad at One57 that escaped the auction block in July is back on the market for $39 million — nearly $13 million less than the owner paid.

Nigerian billionaire Kola Aluko, who is being investigated for money laundering in Nigeria and Europe, defaulted on a $35.3 million mortgage he took on the 79th floor condominium in 2015. His Luxenbourg-based lender moved to foreclose, but a sales auction was put on hold in July after a new creditor surfaced, saying it was owed $83 million for gasoline and jet fuel.

The 6,240-square-foot unit has four bedrooms and four-and-a-half baths. The new asking price works out to $6,250 per square foot.

Aluko — who allegedly was involved in money-laundering schemes in Nigeria and Europe — shelled out $51.9 million for the apartment in 2014.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

“It is now being sold by a third party as an alternative to foreclosure,” a source told the New York Post. Aluko reportedly has “nothing to do” with the sale.

Compass’ Ali Jafri has the listing.

“Motivated seller!” reads the listing description. “A once in a lifetime investment opportunity to purchase the last remaining full floor residence at Manhattan’s New Crown Jewel, One 57 Condominium, for a great value!”

According to the Department of Justice, Aluko laundered money by purchasing $144 million worth of real estate, including the penthouse, as well as an $80 million yacht, the Galactica Star. [NYP]– E.B. Solomont

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