Politics

Baloghs Buy on Billionaire’s Row


From left: Robert "Bobby" Balogh, Cara Balogh and 111 West 57th Street (Balogh Jewelers, SHoP Architects, iStock)

From left: Robert “Bobby” Balogh, Cara Balogh and 111 West 57th Road (Balogh Jewelers, SHoP Architects, iStock)

The Balogh household clearly thought unit 53 at 111 West 57th Road was a gem.

The Baloghs paid $22.5 million for the Billionaires’ Row pad, in line with property records, or $4 million beneath the asking worth. The household as soon as owned Balogh Jewelers, a high model in South Florida that catered to royalty and superstar shoppers, in line with the Miami Herald, till it closed in 1999.

JDS Development Group, Property Markets Group and Spruce Capital Partners initially tapped Douglas Elliman to deal with gross sales at 111 West 57th, the town’s second tallest residential tower. In February they switched to Corcoran.

111 West 57th Street (Short final, CC BY-SA 4.0 - via Wikimedia Commons)

111 West 57th Road (Quick closing, CC BY-SA 4.0 – through Wikimedia Commons)

Twenty-nine of the constructing’s 60 residences have bought, in line with Streeteasy. Lots of the consumers used LLCs to hide their identities.

Property data present the Baloghs’ unit was purchased by Balogh Household Partnership II, owned by Robert “Bobby” Balogh and his spouse Cara Balogh, the brother and sister-in-law of the late David Balogh, who based the jewellery enterprise.

The Baloghs have in previous years acquired a number of Miami workplace buildings, purchasing one in Plantation for $14.25 million, in line with property data.

Balogh Jewelers, which had branches on Madison Avenue and in Europe and Japan, served shoppers corresponding to Frank Sinatra (who purchased a diamond emerald necklace and bracelet) and the Shah of Iran, who despatched an emissary to retrieve a 50-carat oval diamond, in line with the Miami Herald.

The total-floor, 4,100-square-foot, three-bedroom they bought at Michael Stern’s supertall has floor-to-ceiling home windows providing sweeping views of Central Park from the nice room, which has 14-foot ceilings. The formal entrance has white macauba stone flooring and views to the north and south.

(Source: SHoP Architects)

(Supply: SHoP Architects)

The house’s nook kitchen has a southwestern publicity and a crystallo white quartzite backsplash, Gaggenau convection and steam ovens, a fuel vary and a completely built-in espresso machine.

The first suite affords panoramic views of the Manhattan skyline and has an ensuite lavatory with a freestanding nickel bathtub by William Holland and Studio Sofield-designed bronze fittings hand-cast by P.E. Guerin.

(Source: StreetEasy)

(Supply: StreetEasy)

Constructing facilities embody a swimming pool with non-public cabanas, a separate sauna and remedy rooms, a health middle, a personal eating room and a chef’s catering kitchen.

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