The cash-rich Qatari government has expanded its already vast New York City real estate portfolio with the acquisition of a $9.8 million condo in the heart of Greenwich Village.
Located at 64 University Place, the luxurious 2,600-square-foot residence is a small but significant addition to the Middle Eastern country known for its heavy investments in the Manhattan area.
The home is located in an 11-story boutique development purchased through shell company Greenwich Seagull LLC, which closed on Oct. 9.
The 2,600-square-foot apartment, which has three bedrooms, three-and-a-half bathrooms and a terrace, was purchased through a shell company, with records implicating the Qatari prime minister. march. Prime Minister of Qatar, Mohammed bin Abdulrahman bin Jassim Al Thani. Getty Images
According to city records, the unit’s contract was first signed in January 2023 and is linked to none other than Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani, Crain’s reported. .
One of only five units in the building with outdoor space, this stylish condo features three bedrooms, three and a half bathrooms, a fireplace, and a 120-square-foot terrace.
The project was developed by Argo Real Estate and Bsafal. These units were sold secretly, with few details available online.
Qatar’s latest purchase has fueled speculation about its future use. Foreign governments often use luxury real estate to house diplomats.
The condo is part of a new 11-story building developed by Argo Real Estate and Bsafal. march.
However, it remains to be seen whether the condominium will serve as the new home for Sheikha Aliyah Ahmed bin Saif Al Thani, Qatar’s representative to the United Nations.
Edan Pincus, a lawyer representing the buyer and spokesman for Qatar’s United Nations Office Ala Eldin Dafala, declined to comment.
The purchase comes as Qatar considers unloading the UN’s current home at 21 Beekman Place, a Turtle Bay townhouse acquired in 2013 for $34 million. The country listed the property for $32 million, but it remains unsold.
21 Beekman Place. Google Maps The Qatari Royal Family owns 7-9 E. 72nd St. on the Upper East Side. Google Maps
Qatar’s foothold in New York real estate is nothing short of astonishing.
The royal family owns a sprawling mansion at 7-9 East 72nd Street on the Upper East Side, and sovereign wealth fund Qatar Investment Authority (QIA) has projects including the $3.8 billion Manhattan West development with Brookfield. has invested billions of dollars in projects. In 2022, QIA and Brookfield sold a 49% stake in 1 Manhattan West to Blackstone, valuing the skyscraper at $2.9 billion.
But that’s not all. The country also owns a nearly 10% stake in Empire State Realty Trust, which manages the iconic Empire State Building and made a splashy $1.8 billion investment in Brookfield in 2014. went.
The country also owns a nearly 10% stake in Empire State Realty Trust, which manages the iconic Empire State Building. Christopher Sadowski Brookfield Place. Stefano Giovannini
The Greenwich Village building itself is nearly sold out. The 28-unit condominium project, which began sales in 2022, has closed on 24 units and has a total sales goal of $135 million.
Developers Argo Real Estate and Bousafal acquired the site in 2019 for $30 million and took out a $47 million loan to fund the project.
Argo CEO Mark Moskowitz could not be reached for comment.
