Billionaires’ Row hits hardtimes
AN owner of the apartment that gave Billionaires’ Row the dubious distinction of its first foreclosure is believed to be international businesswoman Sheri Izadpanah, Page Six can exclusively reveal.
Heiress Sheri is said to be an owner of the stunning apartment 56C on the 56th floor of One57, located at 157 W. 57th St. — Manhattan’s first “billionaires’ building,” which is home to the Big Apple’s first $100 million condo, reportedly bought by the prime minister of Qatar.
Sheri is also a fashionista who operates Louis Fourteen, a high-end lifestyle concierge company in Dubai that claims its clients include members of royal families and other ultra-high-net-worth individuals. She is also the associate editor at a Dubai-based luxury fashion magazine called Mojeh for stylish Middle Eastern women. The founder of the magazine is Mojeh Izadpanah, a well-known Iranian-bred fashion and social figure thought to be a relative of Sheri.
Sources say Sheri bought the unit for $21.4 million in 2015, through the LLC Central Park Immobilier. It is now on the market for $22.5 million — where it has lingered for the past 555 days. It was widely reported there is a lien on the property for $20.9 million “plus interest and costs,” and a foreclosure auction is slated for Wednesday.
The four-bedroom, 4½-bathroom unit is 3,466 square feet with a windowed, eat-in kitchen and boasts a Central Park-facing master suite.
This is the first high-end NYC condo to go into foreclosure and casts a dark shadow on the reputation of the gleaming tower, where hedge funder
Bill Ackman also has a $90 million pad. “We rarely see luxury condos up for auction, let alone in such an exclusive building as One57, home to the city’s most expensive condo ever sold,” a PropertyShark spokesman said.
Sheri didn’t return calls or e-mails for comment. A representative for Mojeh also didn’t comment. Larry Tetelman, attorney for Central Park Immobilier, told Page Six, “I cannot comment. I guess you did your homework.” He adamantly denied the allegations.