Investment banker Ken Moelis sold his apartment at the Plaza Hotel for $10.75 million. He bought it for $11.23 million in 2007.
Moelis advised Saudi Arabia on a public offering of its national oil company Aramco, the largest IPO in the world in 2019. valued at $2 trillion. This week, Aramco reported a record $161.1 billion in net income for 2022, up 46.5% year-on-year.
This apartment sale comes shortly after Moelis sold shares for $9 million. in her eponymous Moelis & Co. in November last year.
In 2018, Moelis made the controversial decision to attend a Saudi investment conference shortly after Saudi critic Jamal Khashoggi was killed in the Saudi embassy in Istanbul. During the Davos in the Desert conference, Moelis spoke at a panel with the head of the Russian bank VTB, which at the time was under and still is under US sanctions.
Moelis’ attendance at the conference was notable, given that many of Wall Street’s top leaders, from Jamie Dimon to Lawrence Fink, canceled their attendance in protest of Khashoggi’s murder. Also in 2018 Moelis bought a penthouse for $62 million at 520 Park Ave., according to reports.
The Post has reached out to Moelis for comment.
The buyer of the Plaza apartment is Michael Flacks, founder of the investment company Flacks Group.
The three-bedroom, three-bathroom home was designed by interior designer Kerry Joyce. It features 12-foot ceilings, herringbone-inlaid floors, hand-painted murals and bespoke moldings, joinery and custom-made shelving, and scenic Central Park views from every window.
Once upon a time, fashion designer Tommy Hilfiger took 11 years and a huge price cut to sell his Plaza apartment. Hilfiger bought his spread for $25.5 million in 2008 and once asked for $80 million for it before finally selling it in 2019 for $30.1 million.
However, the Plaza has already had three sales this year and four more units are under contract.
Brokers Lisa and Isaac Nematnejad of Douglas Elliman placed the listing, while Alexander Pisa of Douglas Elliman represented the buyer. All brokers declined to comment.
Credit: nypost.com /