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Heiress with a taste for real estate revealed as buyer of Sting’s $50M pad
Musician listed the apartment at 15 CPW for $56M
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