Mukesh Ambani, Reliance Industries Chairman, reportedly bought a building in New York City's Tribeca for about $17.4 million. The purchase comes two days after the billionaire sold his two-bedroom condo in downtown NYC.
The purchase of the building at 11 Hubert Street, Tribeca, was reported by RealDeal. The property sat vacant for about 10 years despite the previous owner’s ambitious plans of converting it to a single-family mansion.
In August 2023, Ambani had sold his $9 million residence in Manhattan’s West Village, which overlooks the Hudson River.
The property was acquired by RIL USA, the US arm of Reliance Industries Limited, for a little less than what Robert Pera, chairman and CEO of Ubiquiti, paid for it in 2018. Pera bought the building for about $20 million in 2018, according to a Curbed report.
Pera had then hired architect Eric Cobb, who submitted a plan for a 17,000 square foot mansion in place of the Industrial building. The mansion, however, was never built.
Eric Cobbs' design envisioned a full-floor primary suite, a basketball court the size of the NBA’s, and a double-height living room with courtyard access and a formal dining room with a bar.
In 2021, Pera had listed the site and all the approved plans, including Cobb’s, an older one from Maya Lin's Studios, for about $25 million.
Maya Lin imagined a 20,000-square-foot megamansion with seven bedrooms, 5,000 square feet of outdoor space, a half-Olympic swimming pool, and a breakfast room, among other amenities.
The listing described the site as “an exceptionally rare offering for an end user to build a single-family mansion in an A+ location in the heart of TriBeCa.”
