• Mon. Mar 20th, 2023

Son of Bernard Arnault, World’s Richest Certain particular person, Buys Manhattan Penthouse for About $18 Million


Mar 17, 2023

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Alexandre Arnault,

son of the world’s richest man, Bernard Arnault, has purchased a penthouse apartment in downtown Manhattan for close to $18 million, according to a unique particular person familiar with the circumstance.

The younger Mr. Arnault, 30, who serves as executive vice president of answer and communications at Tiffany &amp Co., which is owned by his father’s luxury goods giant LVMH Moët Hennessy Louis Vuitton, couldn’t promptly be reached for comment.

Alexandre Arnault is the purchaser of an $18 million Tribeca penthouse. The unit is roughly 4,000 square feet. Compass (two) Carlotta Cardana/Bloomberg News (Arnault )

The half-floor penthouse is situated at 30 Park Place, a single of downtown’s most higher priced towers. The constructing, designed by Robert A.M. Stern Architects, is dwelling to a four Seasons hotel. The four-bedroom unit spans nearly 4,000 square feet with two terraces and has views from the Hudson River to the East River, according to the listing.

The dwelling has an oval reception foyer with white oak herringbone floors and blue lacquered walls. It has a fantastic space lined with white lacquer and with large windows, as nicely as a corner living and dining space with a gas fireplace.

A lounge area leads to a single of two terraces at the dwelling.


An open method living and dining space


The dwelling has panoramic views of every the Hudson and East rivers.


There are four bedrooms.


The seller, a organization linked to housing analyst

Ivy Zelman,

purchased the unit for $18.43 million in 2017, records show. Ms. Zelman is a former housing analyst at Credit Suisse who appropriately predicted the 2007-2008 housing marketplace downturn, The Wall Street Journal reported. She later started her private study and analytics firm, but sold a majority stake in that organization in June 2022, she talked about.

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Ms. Zelman’s organization listed the dwelling for sale for $23 million in 2019, but subsequently took it off the marketplace. It was relisted for $21.75 million in June 2022 and the worth later decreased to $19.75 million in September.

The seller was represented in the deal by Toni Haber of Compass. She declined to comment on the identity of the purchaser or seller but talked about that there are not a lot of four-bedroom apartments nonetheless out there in luxury buildings downtown. “Inventory is shrinking, especially beneath 34th Street,” she talked about.

Mr. Arnault’s father, Bernard Arnault, is the world’s richest man, with a net worth of about $184 billion, according to the Bloomberg Billionaires Index. His organization, LVMH, is the world’s greatest maker of luxury goods. Ryan Kaplan of the Corcoran Group represented Mr. Arnault. He declined to comment on the deal or confirm the identity of his client.

WSJ’s Nick Kostov explains how LVMH CEO Bernard Arnault amassed his fortune and how he plans to preserve that wealth beneath household deal with. Photo: Nicholas Kamm/AFP/Getty Photographs

Build to Katherine Clarke at Katherine.Clarke@wsj.com

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