The distant relatives of reclusive, doll-loving heiress Huguette Clark may not have seen their great-great aunt for more than a half-century (and most never met her at all), but they will be amply rewarded for their solicitousness after her death, netting $34.5 million in a settlement reached on the eve of a jury trial over her $300 million estate.
The numerous parties in the battle over the copper heiress’s massive fortune have negotiated a deal, NBC News’s Bill Dedman reported this afternoon, obviating the need for a lengthy jury trial—juror selection had been scheduled to have started last Tuesday, September 17, but was delayed as the tentative deal took shape.
Of this much, there is no doubt: Huguette Clark, the copper heiress who died two weeks shy of her 105th birthday in 2011, spent the last 20 years of her life pursued, surrounded by and at the mercy of people who wanted her money. Read More
Red Carpet Real Estate
Looking to wow the board of 907 Fifth Avenue? A high-paying job in finance seems to be just the ticket.
The board has accepted Frederick Iseman’s $22.5 million bid to buy the park-facing eighth-floor apartment that belonged to late copper heiress Huguette Clark—one of the three in the building. Mr. Iseman made the bid in mid-summer, after the board reportedly blocked Qatari Prime Minister Sheikh Hamad bin Jassim bin Jaber Al Thani’s move to snap up both of Clark’s eighth-floor apartments to create one the largest floor-throughs on Fifth Avenue.
Has the Prime Minister of Qatar finally found a home in Manhattan? The New York Post is reporting that after a seemingly endless search and several heartbreaking rejections Sheikh Hamad bin Jassim bin Jaber Al Thani has purchased Aby Rosen’s townhouse at 22 East 71st Street.
In some ways, it seems like a match made in heaven—the townhouse has been languishing on the market since 2008, when Mr. Rosen listed it for $75 million (the most expensive listing on the market back then, now it practically seems like a bargain)—and Mr. Hamad has been on a seemingly endless hunt for a Manhattan home. A sale would mean a happy ending for these two seekers.
Huguette Clark’s eighth floor apartments at 907 Fifth Avenue, despite sitting empty for years while the late copper heiress took up residence in a hospital suite, may not be empty forever.
Frederick Iseman, the CEO and chairman of CI Capital Partners, has put in a bid of $22.5 million for one of the eighth-floor apartments belonging to Clark, The Observer has learned from sources familiar with the deal. The deal is awaiting co-op board approval.
Lies and Rumors
Apparently people are willing to pay a premium to live in the apartment of a reclusive, doll-loving copper heiress. At least they are when it’s a massive, 12th-floor spread facing Central Park.
Boaz Weinstein, the founder of Saba Capital, has paid $25.5 million for co-op apartment 12W, a full $1.5 million over the $24 million ask.
The Qatari Prime Minister, despite being everyone’s favorite character in the drama of the New York’s luxury real estate market, is not the buyer of the $90 million penthouse at One57, according to Gary Barnett.
Mr. Barnett, the president of Extell Development, told The Wall Street Journal that the rumors, though rampant, were false.
You can’t always get what you want, but it seems that Qatari prime minister, Sheikh Hamad bin Jassim bin Jaber Al Thani finally got what he needed (and if anyone can be said to need a massive apartment, it’s a man with two wives and 15 children). After courting co-op board after co-op board, Mr. Hamad has finally found a home, according to the New York Post. And not just any home, but the $90 penthouse at One57, which is poised to set the record for most expensive condo ever sold.
Let the battle begin! The cash has yet to come in on the sale of late copper heiress Huguette Clark’s Fifth Avenue 12th-floor apartment (in contract since April), but the fight over her fortune is already underway.
The executor of Clark’s estate has filed a legal petition asking the court to order Clark’s staff to repay the $44 million in gifts that she gave them on top of salaries, according to a story on msnbc.com.
Clark, who died at the age of 104 with a fortune of $400 million and no direct heirs, authorized many gifts from her vast estate over the years. After her death, distant relatives sued, claiming that her fortune had been mismanaged.
Did the co-op board at 907 Fifth Avenue really hate the idea of making a full-floor apartment out of Huguette Clark’s two 8th-floor residences? Or do they just hate children?
Following our report yesterday that Clark’s mega-apartment sale fell through, reportedly because the board didn’t like the bidder’s plans to combine the units, the New York Post IDs the reason as too many kids. That’s a new one.