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Oil Tycoon Kola Aluko’s $50.9 Million New York Penthouse Foreclosed

BellaNaija.com

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Kola Aluko's to Have $50 Million New York Penthouse ForeclosedNigerian oil tycoon and billionaire Kola Aluko‘s $50.9 million penthouse in the Billionaires’ Row building in New York has been foreclosed after failing to make mortgage payments.

The billionaire, who is wanted by the Nigerian government for charges of money laundering, acquired the 6,240-square-foot full floor penthouse in December 2014 under a shell company listed in public records as One57 Inc.

A Luxembourg based Bank Banque Havilland, from which the Aluko took a $35.3million mortgage, according to New York Post is forcing a sale and has listed Aluko’s 213-foot yacht the Galactica Star as collateral, after the billionaire failed to repay the mortgage which was due a year later.

It is suspected that Aluko is hiding out on the Galactica Star, which he rented to JAY-Z and Beyoncé in 2015 for $900,000 a week.

Besides the unpaid mortgage, Aluko also owes property taxes and maintenance fees.

The apartment is scheduled for auction on July 19, according to real estate data firm PropertyShark.

The businessman is also close friends with Leonardo DiCaprio and made a large donation to DiCaprio’s environmental charity as well as attended the actor’s birthday party in New York City in 2013.

The energy tycoon sold a 2.4-acre estate in Montecito, California, to Gwyneth Paltrow for an undermarket $4.9million dollars.

In 2012, he bought an 11,478-square-foot house in Bel Air for $24.5 million, then sold the property in 2016 for $21.5 million.

He also owns a home in Beverly Hills that was also purchased in 2012 for $14.7 million.

Aluko is also avoiding Nigerian authorities who tried to freeze his assets in February as part of a money-laundering probe.

Apartment 79 was sold to a Aluko in December 2014 for $50.9 million, making it the eighth most expensive unit in the building, according to New York City property records.

Less than a year later however, he took out a $35.5 million dollars mortgage from Banque Havilland in Luxembourg to help pay for the apartment.

When Aluko failed to pay the loan back a year later, the bank took possession of the 6,420-square-foot apartment, according to court documents.

Now the bank is planning to auction off the four-bedroom apartment on July 19 to regain the mortgage plus interest.

“It’s probably the most-expensive foreclosure we’ve ever seen in luxury development. I don’t know of a foreclosure that’s larger than that,” Donna Olshan, president of high-end Manhattan brokerage Olshan Realty Inc., told newsmen.

13 Comments

  1. Oprah

    June 28, 2017 at 11:40 am

    Wawu wawu

    • ND Babe

      June 28, 2017 at 6:35 pm

      Niger Delta militants get power sha. In addition to the global economy.

  2. Ephi

    June 28, 2017 at 12:37 pm

    The chicken is coming home to roost..
    Where is Diezani by the way?
    Gang of thieves – both male and female. This country sef.

  3. keke driver

    June 28, 2017 at 12:39 pm

    *side eyes* Naomi Campbell.

  4. ednutey

    June 28, 2017 at 2:20 pm

    Abeg leave Naomi o…the babe only came to eat where the grass was green, and now that it is no longer green nko? she aff talk toh her legs…aka iyawo ta fi ijo fe,ijo lo ma ba lo.hehehe

  5. Temi

    June 28, 2017 at 2:57 pm

    Money is indeed a game changer sha else who would even want to date this agbero looking somebody

  6. Nunulicious

    June 28, 2017 at 4:56 pm

    Bastard. He stole you and I’s money. You will not die well and you will pay for your crime both on this earth and in the life to come.

  7. Memoir

    June 28, 2017 at 6:14 pm

    Deziani and GEJ ‘s Nigeria’d oil loot not flowing in as before and the proxy man is now struggling..Everything is temporary my ppl

  8. Class Prefect

    June 28, 2017 at 7:12 pm

    I wish there was a way to make you guys understand that Kola Aluko is FAR FROM BROKE!!!!!!!! Don’t let the hype of this news distract you. The dude may be on the run but him money loooooong. This foreclosure is most likely a deliberate move, to close off a certain money trail that is being followed by the american government or something… everything is a tactical move with guys at that level. Don’t believe just anything you read on the news. Stay WOKE!!!!!

  9. Jane

    June 28, 2017 at 7:34 pm

    9 out of 10 Nigerians who claim to be rich are all 419ers. No one steals like Nigerians. You Nigerians are born thieves

  10. bliass

    June 28, 2017 at 9:25 pm

    this is what we call placement, layering, and integration in money laundering parlance. Looking at this from the eyes of a fraud investigator, buying that house and later taking a loan to cover the cost was a deliberate and calculated effort by the accused to turn dirty money into clean money. The only person who loses here is the bank. Uncle knew what he was doing. hahaha

  11. Van

    July 6, 2017 at 1:53 pm

    It’s a gorgeous building in a gorgeous location.

  12. The Bull

    July 23, 2017 at 8:02 pm

    Nigeria and its many magical millionaires/billionaires. How did you make your money? you go begin hear “I became a govt. contractor” etc

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