Asia’s richest businessman, Mukesh Ambani, recently acquired a vacant building at 11 Hubert Street in New York’s Tribeca neighbourhood for a staggering sum of $17.4 million (about ₹153 crore).
The purchase made by Reliance Industries Limited’s US arm (RIL USA) was finalised on Saturday. The property was formerly owned by tech entrepreneur Robert Pera, who bought it in 2018 for about US$20 million.
Pera envisioned to covert the building into a luxurious 17,000 sq ft residence with the help of NYC-based architect Eric Cobb. However, Cobbs’ plans for the residence were never executed as Pera decided to sell the property after three years.
Ambani’s latest purchase comes nearly two years after he sold a two-bedroom condo in downtown New York City. According to a New York Post report, in August 2023, Ambani sold his $9 million residence in Manhattan’s West Village, which overlooked the Hudson River.
The luxurious promise of Tribeca
Pera listed the site in 2021 along with all approved plans for the 17,000 ft luxurious residence in the heart of New York for a sum of $25 million. Following the listing, the house remained vacant for approximately 5 years before it was acquired by Ambani.
If Ambani follows through to make Cobb’s plans a reality, his new NYC residence is sure to become one of the most talked-about luxury mansions in Manhattan.
Cobb envisioned a grand luxury mansion featuring a full-floor primary suite with an adjoining workspace. Amenities would include an NBA-sized half basketball court, a double-height living room offering courtyard access, and a formal dining room complete with a bar. The estate would also boast seven bedrooms, an additional 5,000 square feet of outdoor space and an Olympic-size swimming pool.
What happens next?
While Ambani’s specific plans for the site have not been disclosed, he is renowned for his ambitious residential projects, such as the 27-story “Antilia” in Mumbai. Given the scale of his other properties, it is expected that any new development on the Tribeca site will be a significant and luxurious undertaking.
