Sheik Hamad bin Jassim bin Jaber al-Thani, the billionaire Prime Minister of Qatar has made waves in the New York real estate market. He has been looking at various luxury properties in town but the Co-op Boards have resisted his entry into their buildings as the powerful politician from the Middle Eastern country has two wives and fifteen children. In addition, he travels with a huge entourage including a gun toting security detail who would follow him around and surround the building when he is in town. According to a report carried by New York Post the Sheikh has had his way finally and he has bought the most expensive penthouse in the city. It is a super luxurious two story condominium under construction at One57 across the street from Carnegie Hall. The price tag is a cool $100 million.
The Co-op Boards Resist Sheik’s Entry
The Prime Minister of Qatar had earlier wanted to buy two apartments owned by the late Huguette Clark in a Fifth Avenue Co-op. for $31.5 million. However the Co-op board of the building rejected his application on the ground that he would be bringing too many people to the building. Apart from that the board was apprehensive because the Sheikh enjoys Diplomatic Immunity as a serving Prime Minister of a sovereign country. This immunity would come in the way of the board addressing any issue that might arise in the future legally. They wouldn’t be able to touch him even for collecting unpaid common charges. The Sheik had also looked at other top end properties including Denise Rich’s $60 million co-op but met the same fate as the boards resisted his entry into their building.
The Sheik Could Invest $250 Million in the Building
It has ended well for Sheik Thani as he has finally managed to acquire a trophy home for himself in New York. It is a stunning duplex penthouse spread over 10,923 sq ft. The penthouse with five bedrooms boasts of a grand salon, a spacious mezzanine, fireplaces and floor to ceiling windows with motorized shades. Encouraged by his success in acquiring a prized home the Sheikh has opened negotiations with Extell Development about buying a cluster of four separate, full-floor condos in the 90-story One57 building. If the deal materializes then his total investment in the building will go up to $250 million.