Real Estate : Duke Semans Mansion Sold for $44 Million
Luxury Real Estate | Duke Semans Mansion Sold for $44 Million
One of my favorite mansions in the world, the Duke Semans mansion on Fifth Avenue in New York City, was just sold for $44 million. The classic beaux arts style mansion was acquired by Carlos Slim, who is ranked the richest man in the world after building a telecommunications empire in Mexico. The seller is the legendary New York real estate mogul Tamir Sapir, who started as a cab driver and ended up on the Forbes list himself from Russian oil and real estate investments.
Tamir Sapir bought the mansion in 2006 from the descendants of tobacco magnate Benjamin N. Duke, who had it built in 1901. Sapir paid $40 million, which set the New York City record for private real estate at the time. He originally listed the property at $50 million, according to The Wall Street Journal, after working with Paula Del Nunzio of brown Harris Stevens, who is known for selling most of the highest value townhouses in New York.
The legendary Beaux Arts style Duke Semans mansion in New York is located across from the Metropolitan Museum of Art. It was recently sold for $44 million, trading hands between two members of the Forbes 400 list of richest people.
Furthermore, The Wall Street Journal goes on to say that Carlos Slim is holding the Duke Semans mansion through a limited liability company:
[Slim] owns the townhouse, located on Fifth Avenue at East 82nd Street across from the Metropolitan Museum of Art, through a limited liability company, a technique used by many wealthy buyers. But the deed documents were signed by a lawyer at Grupo Financiero Inbursa, Slim’s financial services company, and the closing was handled by the same New York lawyer who handled Slim’s closing on the Fifth Avenue office building.
The doorstep of the Duke Semans mansion can be seen here on Fifth Avenue in New York City.
(The Fifth Avenue office building referenced in the story is 417 Fifth Avenue, an 11-story property that Carlos Slim bought for $140 million last month.)
I hope Slim takes care of the building. It has always been one of my favorite luxury real estate properties in not only New York City, but the entire world.
No word on why Tamir Sapir wanted to sell the property after only four years. There were rumors that some of his other investments were coming under pressure and the money would be useful but it is hard to verify such things. The average American only holds their house for seven years; what would make millionaires and billionaires any different? Maybe he just wanted a change of scene.
Let’s just hope Carlos Slim doesn’t end up like Huguette Clark! This real estate is just too good to waste.