Downtown Manhattan’s priciest property returns for $45M amid money laundering probe

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October 6, 2017

The most expensive property ever sold in downtown Manhattan has hit the market again, and for less than it closed for in 2014. The Wall Street Journal had the scoop on the 6,000-square-foot penthouse, now on the market for $45 million with Shaun Osher and Emily Beare of CORE. The property sold for $50.9 million in January 2014, setting the record for priciest sold home in downtown Manhattan. It still holds that record, though perhaps not for long.

The property has likely been spurred to sale by its alleged involvement in an international money laundering scandal that has ensnared its owner, Emirati businessman Khadem al-Qubaisi.

That scandal involves a lawsuit filed by the Justice Department in June 2016 that alleges more than $4.5 billion was redirected from a strategic investment company meant to benefit the people of Malaysia called 1Malaysia Development Berhad (1MDB) to co-conspirators and their friends and family, of whom al-Qubaisi is among.