The wealthiest black American has just purchased the most expensive penthouse ever sold in downtown Manhattan, in the Chelsea neighborhood.
Robert F. Smith, who is the chief executive of private equity firm Vista Equity Partners, has been identified as the buyer of a combined duplex penthouse and lower level apartment for $59.058 million, according to the Wall Street Journal.
Smith, with a net worth of $4.4 billion, is currently the wealthiest black person in the United States, and third wealthiest in the world, according to Forbes.
He’s followed by Oprah Winfrey, with a reported net worth of $2.7 billion, making her the second wealthiest black person in the US and the fourth wealthiest black person in the world.
Robert F. Smith, who is the richest black person in America, has been identified as the buyer of a combined duplex penthouse and lower level apartment for $59.058 million, making him the owner of the most expensive penthouse in downtown Manhattan; Smith is seen here onstage at 2018 Reflections Of Excellence at Morehouse College on February 17 in Atlanta
Smith’s new acquisition, in a building known as The Getty, overtakes the purchase price of the penthouse at Walker Tower, which was a condo conversion also located in Chelsea.
That property sold four years ago in 2014, for $51 million.
Smith is now one of just five home owners at the building located at West 24th Street and 10th Avenue.
The development, designed by Peter Marino, was erected on the site of a gas station, which inspired the name of the structure after it was demolished.
Smith’s total square footage spans 10,000 square feet, boasting two master suites, four other bedrooms, two kitchens, two great rooms and its own private terrace on the roof
The development, designed by Peter Marino, was erected on the site of a gas station, which inspired the name of the structure after it was demolished
Smith’s total square footage of his new home amasses an impressive 10,000 square feet.
It boasts two master suites, four other bedrooms, two kitchens, two great rooms and its own private terrace on the roof.
Amenities within The Getty include an art gallery and a museum on the floors below Smith’s penthouse.
Michael Shvo, who put to rest an art sales criminal tax case in April after settling for $3.5 million (including penalties), is co-developing the building.
Sales and marketing are being headed up by Adam Modlin of the Modlin Group and Tal and Oren Alexander (who are brothers) of Douglas Elliman.
The Austin, Texas-based venture capitalist now has over $30 billion in assets under the management of his firm, making his one of the world’s most successful hedge funds, Forbes reported in March.
The incredibly wealthy man pledged a $50 million donation to his alma mater, Cornell University, in 2016.
Smith, who was previously an executive with Goldman Sachs, is also the first African-American chairman of the board of Carnegie Hall.
Forbes decided to leave all Saudis off its list of black billionaires for 2018, leaving out Saudi-Ethiopian construction tycoon Mohammed Al-Amoudi who was worth $8.4 billion last year.
