investment banker Ken Moelis Is Sold my condo at the Plaza Hotel for $10.75 million. He bought it in 2007 for $11.23 million.
Moelis advised on the public offering of Saudi Arabia’s own national oil company, Aramco – the world’s largest IPO in 2019, worth $2 trillion, This week, Aramco reported record net income of $161.1 billion for 2022, up 46.5% year over year.
This condo sale comes immediately after Moelis. sold shares worth $9 million In his eponymous organization Moelis & Co. last November.
In 2018, Moelis made a controversial decision to attend a Saudi investment conference shortly after a Saudi critic jamal khashoggi The assassination took place at a Saudi embassy in Istanbul. While at the “Davos in the Desert” conference, Moelis spoke on a panel with the head of VTB Bank of Russia, which was under US sanctions at the time, and still is.
Moelis’ presence at the conference was notable, given that many top Wall Street leaders, from Jamie Dimon to Lawrence Fink, had canceled their attendance in protest of Khashoggi’s killing. Also in 2018, Moelis bought a $62 million penthouse According to reports, at 520 Park Ave.
The Post has reached out to Moelis for comment.
The buyer of the Plaza condo is Michael Flax, founder of the Flax Group, an investment firm.
The three bedroom, three bath home was done by interior designer Kerry Joyce. It features picturesque views of Central Park from all windows, as well as 12-foot ceilings, inlaid herringbone floors, hand-painted mural walls, and bespoke moldings, millwork, and custom shelving.
It once took fashion designer Tommy Hilfiger 11 years and paid a heavy price sell your plaza unit, Hilfiger bought his Spread in 2008 for $25.5 million and once asked for $80 million before selling it in 2019 for $30.1 million.
This year, however, the plaza has already had three sales, with four more units under contract.
Brokers Liza and Isaac Nematnejad of Douglas Elliman held the listing, while Alexander Pisa of Douglas Elliman backed the buyer. All the brokers declined to comment.