Billionaire Michael Rubin spending $43M on NYC penthouse

Michael Rubin — the billionaire behind sports-apparel juggernaut Fanatics, as well as an owner of the Philly 76ers — is snapping up the prized penthouse property in Ian Schrager’s 160 Leroy Street.

The north penthouse was reportedly listed at $51 million, which would make it the most expensive residence ever sold downtown. But we hear the deal will hit around $43 million for the 7,750-square-foot apartment that includes five bedrooms with a private elevator, four wood-burning fireplaces, a media room and a nearly 5,000-square-foot roof terrace with a private pool.

Reports said that the unit went into contract last year with a mystery buyer, and sources said the sale’s about to close with Rubin next week.

A broker declined to comment.

The apartment was originally part of a planned $80 million penthouse that was divided into two units. The other reportedly went into contract for $31.5 million at the Herzog & de Meuron-designed building.

Source: Read Full Article