The highest penthouse in New York City is no longer on the market, thanks to real estate maganate Fawaz Alhokair.
Alhokair, who is a Saudi Arabian billionaire, purchased the plush property for a cool $95 million. The 8,255-square-foot property features six bedrooms, seven bathrooms, heated bathroom floors, a wood-burning fireplace as well as 10-foot-by-10-foot windows. Its touted to be one of New York’s highest and most expensive penthouse.
The penthouse, which is 1,396 feet tall, is located at 432 Park Avenue. According to the Real Deal, once the deal closes it will be New York City’s second-priciest condo sale ever.
Alhokair is the founder and chairman of the Fawaz Alhokair Group, which specializes on fashion retail and real estate business sectors. According to the Fawaz Alhokair Group site, “The fashion retail now operates more than 2,100 stores representing more than 80 international brands.The real estate division of the Group presently operates a network of 16 shopping malls, managing over 1.6 Million sq meters of prime retail real estates.”
As stated by Forbes, Alhokair is noted to have a networth of $1.32 billion. He started the company with his two brothers in 1989 with just two menswear stores. Today, the company holds franchise rights to global fashion brands such as Spanish clothing and accesories Zara, Banana Republic, Gap, Nine West and British fashion retailer Topshop.
(Photos via DBOX for CIM Group & Macklowe Properties)
