Monday 18 June 2018

Qatar to buy prime NY property for consulate

New York, January 30, 2014

Qatar is set buy the Wildenstein family of international art dealers’ East 64th Street headquarters, where it plans to open a New York consulate, said a report.

The limestone townhouse, is expected to fetch more than $90 million, said the Wall Street Journal report.

The sale comes as the company explores new territory, pushing into contemporary-art sales and real-estate development under the direction of 34-year-old David Wildenstein, who is emerging as the new face of the business with his father, Guy Wildenstein, mired in legal troubles in Paris, it said.

Consul General Ahmed Yousef Al-Rumaihi was drawn by the building's history, its location and its security features, said the report.

Built with steel construction, the five-story building has reinforced floors built to accommodate the weight of vaults.

Al-Rumaihi has been offering consular services out of the Ritz-Carlton Hotel on Central Park South since last year.  With the townhouse in move-in condition, he said he hoped to open the new consulate in the spring, shortly after the deal is expected to close.

Tags: Qatar | New York | Consulate |

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