Mukesh Ambani has reportedly bought a building in New York City’s Tribeca neighborhood. The purchase comes two years after the Reliance billionaire sold his two-bedroom condo in downtown NYC for $9 million.
Reliance Industries Chairman Mukesh Ambani and Reliance Foundation founder and chairperson Nita Ambani at a private reception ahead of President-elect Donald Trump’s swearing-in.(PTI)
Mukesh Ambani, India’s richest man, paid $17.4 million for the Tribeca building, the RealDeal reported. The building at 11 Hubert Street in Tribeca had been sitting vacant for 10 years, although previous owners had ambitious plans of converting it into a single-family mansion.
In August 2023, Ambani sold his $9 million residence in Manhattan’s West Village, according to a New York Post report. The apartment, with two bedrooms, overlooked the Hudson river.
Who was the seller?
Now, RIL USA, the US arm of Reliance Industries Limited, has acquired the property for a little less than what tech billionaire Robert Pera paid for it in 2018. Pera, chairman and CEO of Ubiquiti, had bought the building for about $20 million in 2018, according to a Curbed report.
After the purchase, Pera, 47, hired architect Eric Cobb, who submitted a plan for a 17,000-square-foot mansion in place of the industrial building. That mansion was never built.
More about the Tribeca building
In 2021, Pera listed the site and all the approved plans – including Cobb’s and an older one from Maya Lin Studios – for $25 million.
The listing describes it as “an exceptionally rare offering for an end user to build a single family mansion in an A+ location in the heart of TriBeCa.”
Highlights of Cobb’s plans include a full floor primary suite with adjacent workspace, an NBA-sized half basketball court, a double height living room with courtyard access, a formal dining room with a bar and much more.
The design from Maya Lin, on the other hand, imagines a 20,000-square-foot megamansion with seven bedrooms, an additional 5,000 square feet of outdoor space, a half-Olympic swimming pool and a breakfast room, among other amenities.