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	<title>Observer &#187; Hillel Nahmad</title>
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		<title>Observer &#187; Hillel Nahmad</title>
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		<title>Art Dealer Hillel Nahmad Completes His Trump Tower Collection, Buys Out Entire 51st Floor</title>

		<comments>http://observer.com/2013/01/art-dealer-hillel-nahmad-completes-his-trump-tower-collection-buys-out-entire-51st-floor/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 11:40:58 -0400</pubDate>
					<link>http://observer.com/2013/01/art-dealer-hillel-nahmad-completes-his-trump-tower-collection-buys-out-entire-51st-floor/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=285458</guid>
		<description><![CDATA[<p><div id="attachment_285461" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2013/01/art-dealer-hillel-nahmad-completes-his-trump-tower-collection-buys-out-entire-51st-floor/trumpnahmad/" rel="attachment wp-att-285461"><img class="size-medium wp-image-285461" alt="The last puzzle piece." src="http://nyoobserver.files.wordpress.com/2013/01/trumpnahmad.jpg?w=300" width="300" height="163" /></a><p class="wp-caption-text">The last puzzle piece?</p></div></p>
<p>Even the most ardent and dedicated enthusiast occasionally requires a change of pace, a diversion from the tedium that can set in when one spends day after day doing the same amazing thing.</p>
<p>Take, for example, <strong>Hillel Nahmad</strong>. The scion of the ridiculously rich art-dealing dynasty devotes most of his time buying Renoirs and Modiglianis to <a href="http://www.theartnewspaper.com/articles/Dynasty-prepares-to-share-its-family-secrets/24560">stockpile in the family's storage facility beneath the Geneva airport</a>. But he also mixes it up by collecting other expensive things, like apartments on the 51st floor of the Trump Tower.</p>
<p>Now, with his sixth purchase at <strong>721 Fifth Avenue</strong>, we believe Mr. Nahmad may finally have the full set. That is, the entire 51st floor.<!--more--></p>
<p><div id="attachment_285489" class="wp-caption alignleft" style="width: 235px"><a href="http://observer.com/2013/01/trumptower-001-2/" rel="attachment wp-att-285489"><img class="size-medium wp-image-285489" alt="Maybe he's after the whole thing." src="http://nyoobserver.files.wordpress.com/2013/01/trumptower-001.jpg?w=225" width="225" height="300" /></a><p class="wp-caption-text">Maybe he's after the whole thing.</p></div></p>
<p>The Trump Tower patron paid <strong>$8 million</strong> for apartment <strong>51</strong><strong>A/B, </strong>city records show. And while Mr. Nahmad has taken his time with his purchases in the past, this most recent buy followed right on the heels of No. 51C, <a href="http://observer.com/2012/11/sold-art-dealer-hillel-nahmad-builds-trump-empire-with-another-buy/">which sold for $2.8 million in November</a>.</p>
<p>He spent the last decade buying up <a href="http://observer.com/2010/07/in-deed-art-dealer-expands-in-trump-tower-ivanity-fairi-articles-editor-buys-in-chelsea/">51D, J, K and H</a>. Which, though a few letters of the alphabet are absent, appears to be the entirety of lines available on the floor (ah, convoluted apartment numbering systems). Mr. Nahmad did not return a phone call to his Trump Tower apartment, but the purchases scream floor-through.</p>
<p>As for apartment 51A/B, Keller Williams listing broker <strong>Rana Williams</strong> said that the two apartments were combined years ago. The seller, <strong>Renee Baley</strong>, was trying for $9.95 million for the 3,000-square-foot unit, although it was clear from listing photos that it had been some time since the place was renovated, a consideration we doubt matters to Mr. Nahmad.</p>
<p>"The apartment spans the whole southern face of the building. It is a beautiful apartment," said Ms. Williams. She declined to comment on Mr. Nahmad's plans, or the possibilities of a floor-through renovation, but did confirm that there had originally been seven units on the 51st floor. We tallied Mr. Nahmad's purchases: seven units.</p>
<p>Would a floor-through in the Trump Tower be unusual? "It would be <em>very</em> uncommon," she said.</p>
<p>Altogether, he's spent $21.7 million, but could surely fetch far, far more after a renovation. By our calculations, the apartments have 10,059 square feet between them. Although combining so many units can't be an easy, or inexpensive task.</p>
<p>But Mr. Nahmad wouldn't be the first rich guy to dream about uniting <a href="http://observer.com/2012/11/the-death-of-a-crazy-dream-magnificently-complicated-fifth-avenue-spread-is-off-the-market/">a large number of disparate apartments</a> into one magnificent mega-apartment. To want to play real estate developer not on a plot of land, but within the confines of a luxury building. And where Howard Ronson failed, Mr. Nahmad may succeed.</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_285461" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2013/01/art-dealer-hillel-nahmad-completes-his-trump-tower-collection-buys-out-entire-51st-floor/trumpnahmad/" rel="attachment wp-att-285461"><img class="size-medium wp-image-285461" alt="The last puzzle piece." src="http://nyoobserver.files.wordpress.com/2013/01/trumpnahmad.jpg?w=300" width="300" height="163" /></a><p class="wp-caption-text">The last puzzle piece?</p></div></p>
<p>Even the most ardent and dedicated enthusiast occasionally requires a change of pace, a diversion from the tedium that can set in when one spends day after day doing the same amazing thing.</p>
<p>Take, for example, <strong>Hillel Nahmad</strong>. The scion of the ridiculously rich art-dealing dynasty devotes most of his time buying Renoirs and Modiglianis to <a href="http://www.theartnewspaper.com/articles/Dynasty-prepares-to-share-its-family-secrets/24560">stockpile in the family's storage facility beneath the Geneva airport</a>. But he also mixes it up by collecting other expensive things, like apartments on the 51st floor of the Trump Tower.</p>
<p>Now, with his sixth purchase at <strong>721 Fifth Avenue</strong>, we believe Mr. Nahmad may finally have the full set. That is, the entire 51st floor.<!--more--></p>
<p><div id="attachment_285489" class="wp-caption alignleft" style="width: 235px"><a href="http://observer.com/2013/01/trumptower-001-2/" rel="attachment wp-att-285489"><img class="size-medium wp-image-285489" alt="Maybe he's after the whole thing." src="http://nyoobserver.files.wordpress.com/2013/01/trumptower-001.jpg?w=225" width="225" height="300" /></a><p class="wp-caption-text">Maybe he's after the whole thing.</p></div></p>
<p>The Trump Tower patron paid <strong>$8 million</strong> for apartment <strong>51</strong><strong>A/B, </strong>city records show. And while Mr. Nahmad has taken his time with his purchases in the past, this most recent buy followed right on the heels of No. 51C, <a href="http://observer.com/2012/11/sold-art-dealer-hillel-nahmad-builds-trump-empire-with-another-buy/">which sold for $2.8 million in November</a>.</p>
<p>He spent the last decade buying up <a href="http://observer.com/2010/07/in-deed-art-dealer-expands-in-trump-tower-ivanity-fairi-articles-editor-buys-in-chelsea/">51D, J, K and H</a>. Which, though a few letters of the alphabet are absent, appears to be the entirety of lines available on the floor (ah, convoluted apartment numbering systems). Mr. Nahmad did not return a phone call to his Trump Tower apartment, but the purchases scream floor-through.</p>
<p>As for apartment 51A/B, Keller Williams listing broker <strong>Rana Williams</strong> said that the two apartments were combined years ago. The seller, <strong>Renee Baley</strong>, was trying for $9.95 million for the 3,000-square-foot unit, although it was clear from listing photos that it had been some time since the place was renovated, a consideration we doubt matters to Mr. Nahmad.</p>
<p>"The apartment spans the whole southern face of the building. It is a beautiful apartment," said Ms. Williams. She declined to comment on Mr. Nahmad's plans, or the possibilities of a floor-through renovation, but did confirm that there had originally been seven units on the 51st floor. We tallied Mr. Nahmad's purchases: seven units.</p>
<p>Would a floor-through in the Trump Tower be unusual? "It would be <em>very</em> uncommon," she said.</p>
<p>Altogether, he's spent $21.7 million, but could surely fetch far, far more after a renovation. By our calculations, the apartments have 10,059 square feet between them. Although combining so many units can't be an easy, or inexpensive task.</p>
<p>But Mr. Nahmad wouldn't be the first rich guy to dream about uniting <a href="http://observer.com/2012/11/the-death-of-a-crazy-dream-magnificently-complicated-fifth-avenue-spread-is-off-the-market/">a large number of disparate apartments</a> into one magnificent mega-apartment. To want to play real estate developer not on a plot of land, but within the confines of a luxury building. And where Howard Ronson failed, Mr. Nahmad may succeed.</p>
<p><em>kvelsey@observer.com</em></p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2013/01/art-dealer-hillel-nahmad-completes-his-trump-tower-collection-buys-out-entire-51st-floor/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
	
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			<media:title type="html">kvelseyobserver</media:title>
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		<media:content url="http://nyoobserver.files.wordpress.com/2013/01/trumpnahmad.jpg?w=300" medium="image">
			<media:title type="html">The last puzzle piece.</media:title>
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			<media:title type="html">Maybe he&#039;s after the whole thing.</media:title>
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		<title>Sold! Art Dealer Hillel Nahmad Builds Trump Tower Empire With Another Buy</title>

		<comments>http://observer.com/2012/11/sold-art-dealer-hillel-nahmad-builds-trump-empire-with-another-buy/#comments</comments>
		<pubDate>Wed, 28 Nov 2012 10:05:00 -0400</pubDate>
					<link>http://observer.com/2012/11/sold-art-dealer-hillel-nahmad-builds-trump-empire-with-another-buy/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=278980</guid>
		<description><![CDATA[<p><div id="attachment_278998" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2012/11/trumptower-001/" rel="attachment wp-att-278998"><img class="size-full wp-image-278998" title="TrumpTower-001" alt="" src="http://nyoobserver.files.wordpress.com/2012/11/trumptower-001.jpg" height="400" width="300" /></a><p class="wp-caption-text">Why not buy it all?</p></div></p>
<p>Apparently <strong>Hillel Nahmad</strong>, scion of the fabulously wealthy and famously controversial Nahmad art clan, needed some more space to hang all those Picassos he owns. Mr. Nahmad has closed on his fifth apartment at Trump Tower.</p>
<p>Hey, you can never have too many Matisses or too many apartments in the Trump Tower! Mr. Nahmad paid <strong>$2.8 million </strong>for unit 51C, according to city records. The apartment, which was not listed publicly, offers just over 1,000 square-feet for Mr. Nahmad to expand his now rather-large space on the 51st floor. <!--more--></p>
<p>Does he have his eye on the entire 51st floor? We wouldn't be surprised. Mr. Nahmad has been buying apartments there for <a href="http://ny.curbed.com/tags/hillel-nahmad">the past 17 years </a>and the family is nothing if not methodical when it comes to collecting what they want. Enjoying it is, unfortunately, another matter. The family <a href="http://www.theartnewspaper.com/articles/Dynasty-prepares-to-share-its-family-secrets/24560">keeps 90 percent of the collection</a> in storage in Switzerland.</p>
<p>Maybe it's time to grace the ever-increasing wall space of <strong>721 Fifth Avenue </strong>with a few famous paintings?</p>
<p>Mr. Nahmad bought the condo from <strong>Beech Road LLC</strong>, who paid just $950,000 for it back in 2003. But buyers who covet things that are not technically for sale often find themselves paying a premium.</p>
<p>It's been a few years since the art world honcho bought something new—before this, <a href="http://observer.com/2010/07/in-deed-art-dealer-expands-in-trump-tower-ivanity-fairi-articles-editor-buys-in-chelsea/">he snapped up a $5 million apartment in 2010, followed by</a> a $2.62 million one a few months later. Why not buy in pairs in you're going after the whole floor?</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_278998" class="wp-caption alignleft" style="width: 310px"><a href="http://observer.com/2012/11/trumptower-001/" rel="attachment wp-att-278998"><img class="size-full wp-image-278998" title="TrumpTower-001" alt="" src="http://nyoobserver.files.wordpress.com/2012/11/trumptower-001.jpg" height="400" width="300" /></a><p class="wp-caption-text">Why not buy it all?</p></div></p>
<p>Apparently <strong>Hillel Nahmad</strong>, scion of the fabulously wealthy and famously controversial Nahmad art clan, needed some more space to hang all those Picassos he owns. Mr. Nahmad has closed on his fifth apartment at Trump Tower.</p>
<p>Hey, you can never have too many Matisses or too many apartments in the Trump Tower! Mr. Nahmad paid <strong>$2.8 million </strong>for unit 51C, according to city records. The apartment, which was not listed publicly, offers just over 1,000 square-feet for Mr. Nahmad to expand his now rather-large space on the 51st floor. <!--more--></p>
<p>Does he have his eye on the entire 51st floor? We wouldn't be surprised. Mr. Nahmad has been buying apartments there for <a href="http://ny.curbed.com/tags/hillel-nahmad">the past 17 years </a>and the family is nothing if not methodical when it comes to collecting what they want. Enjoying it is, unfortunately, another matter. The family <a href="http://www.theartnewspaper.com/articles/Dynasty-prepares-to-share-its-family-secrets/24560">keeps 90 percent of the collection</a> in storage in Switzerland.</p>
<p>Maybe it's time to grace the ever-increasing wall space of <strong>721 Fifth Avenue </strong>with a few famous paintings?</p>
<p>Mr. Nahmad bought the condo from <strong>Beech Road LLC</strong>, who paid just $950,000 for it back in 2003. But buyers who covet things that are not technically for sale often find themselves paying a premium.</p>
<p>It's been a few years since the art world honcho bought something new—before this, <a href="http://observer.com/2010/07/in-deed-art-dealer-expands-in-trump-tower-ivanity-fairi-articles-editor-buys-in-chelsea/">he snapped up a $5 million apartment in 2010, followed by</a> a $2.62 million one a few months later. Why not buy in pairs in you're going after the whole floor?</p>
<p><em>kvelsey@observer.com</em></p>
]]></content:encoded>
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