Mukesh Ambani acquires tech billionaire’s building in New York

Mukesh Ambani acquires tech billionaire’s building in New York

Mukesh Ambani has reportedly bought a building in New York City’s Tribeca neighborhood. The purchase comes two years after the Reliance billionaire sold his two-bedroom condo in downtown NYC for $9 million.

The building at 11 Hubert Street in Tribeca, reportedly had been lying vacant since 10 years, although earlier owners had ambitious plans of converting it into a single-family mansion.

Reportedly in August 2023, Ambani sold his $9 million residence in Manhattan’s West Village, according to a New York Post report. The apartment, with two bedrooms, overlooked the Hudson river.

Now, RIL USA, the US arm of Reliance Industries Limited, has acquired the property for a little less than what tech billionaire Robert Pera paid for it in 2018. Pera, chairman and CEO of Ubiquiti, had bought the building for about $20 million in 2018, as per report
After the purchase, Pera, 47, hired architect Eric Cobb, who submitted a plan for a 17,000-square-foot mansion in place of the industrial building. That mansion was never built.

In 2021, Pera listed the site and all the approved plans – including Cobb’s and an older one from Maya Lin Studios – for $25 million.
The listing describes it as “an exceptionally rare offering for an end user to build a single family mansion in an A+ location in the heart of TriBeCa.”
Highlights of Cobb’s plans include a full floor primary suite with adjacent workspace, an NBA-sized half basketball court, a double height living room with courtyard access, a formal dining room with a bar and much more.
The design from Maya Lin, on the other hand, imagines a 20,000-square-foot megamansion with seven bedrooms, an additional 5,000 square feet of outdoor space, a half-Olympic swimming pool and a breakfast room, among other amenities.
News Edit KV Raman