Turks Who Own Manhattan's Most Expensive Homes

New York City is one of the most favorite real estate investment spots of the wealth from across the world.  Foreign buyers purchase $74 Billion residential properties during April 2019–March 2020. It is 5% decrease from $77.9 billion during April 2018–March 2019. According to NAR (National Association of Realtors) Chinese buyers were the largest group of foreign buyers in the US. Canadians were the second largest, followed by the UK, India and Mexico.

And, many of the wealthy families from Turkey also own a house here and stay there while visiting the city. There are also several entrepreneurs who have been lately investing in the New York real estate market by buying buildings or running various projects.

The largest commercial real estate investment in Manhattan belongs to Serdar Bilgili, the Chairman of Bilgili Group. In 2018, he bought the old Gucci building in Manhattan, located on 685 5th Avenue-54th Street, for 135 million dollars. On three floors of this 20-story building, Coach firms still operates. Under the project which will cost 360 million dollars, 10 more stories will be added and the building will be turned into Mandarin Oriental Residences.

In September of 2019, Bilgili also paid 955 million dollars, in partnership with SHVO Group, to the historic Coca Cola building on 5th Avenue-55th Street. Bilgili and the SHVO Group went into a disagreement and ended up in a lawsuit in 2020. The Turkish businessman Bilgili, American realtor Michael Shvo and German finance sector giant Deutsche Finance made an investment together in Florida, California and New York states of USA, in the amount of 3 billion dollars.

One of New York's most well-known Turkish construction investor İzak Şenbahar, the head of the Alexico Group, has built several symbolic buildings in Manhattan. Şenbahar had his very first experience in the construction sector in Turkey, at the age of 26, with Oğuz Gürsel, the head of Turkey's one of the most prominent construction firms, Kiska.

In 1994, Şenbahar constructed The Huntington building on 2nd Avenue-94th Street, which is still in operation under the name of The Marmara Manhattan. Then, he built Elektra on 353 Central Park West, The Grand Beekman on 165 Charles Street, The Mark, The Laural on East 67th Street and the 56 Leonard in Tribeca, which is famous for its architectural design.

Having worked in partnership with Simon Elias, Şenbahar is still one of the most prominent Turkish constructors in New York. He lives in a house on Fifth Avenue's Upper East Side, near the Guggenheim Museum.

According to the Realtyhop website, which openly lists the official real estate property purchases in New York, and New York State official records the Turk who owns the most expensive home in New York is Turgay Ciner.  With investments in energy, tourism and media sectors, the owner of the Ciner Group, Turgay Ciner, is among the Turks that have more than one investment in New York. Owner of three luxury flats in New York, the Turkish businessman Ciner last bought, for 22,9 million dollars in 2018, the city's one of the most symbolic landmarks, the townhouse on 55th Avenue, between Park Avenue and Lexington Avenue. As the owner of two flats in the old That Plaza Hotel building that was turned into a condo, Ciner had bought his first flat on the 17th floor of this building for 9,3 million dollars back in 2008. He bought the second one in this building for 10,7 million dollars in September of 2009.

The second most expensive home is belong to Naciye Koçak. After having divorced the owner of Turkmen Holding, Nejat Türkmen, in 2008, Naciye Koçak got married to Greek banker Costas Iozias. Koçak bought her flat on 432 Park Avenue in 2016, for 21,1 million dollars. It is in 96 story building, which is the fifth tallest buildings in New York. Built in 2012, this building has a total of 160 flats. And, the penthouse of the building was sold for 88 million dollars in 2016.

Serdar Bilgili's partner and America's well-known realtor Michael Shvo and his wife Seren Ceylan paid 14 million dollars in total for two flats they purchased, in 2006 and 2015, on the 68th floor of Time Warner Center.

Another Turkish businessman that catches attention with his investments in New York's real estate field is the President of Sedes Holding Board of Directors, Demir Sabancı. He has been active in New Manhattan's business world since 2009, with the Sedeco Inc. firm. One of his last purchases was the 9-story office building, built in 1921, located on 41 West 57th Street. Sabancı paid 80 million dollars for this neo-classical structure in 2018. Among Sabancı's investments are four different buildings in Manhattan. Sedesco's office and residence investments are mostly on 51st, 54th, and 64th Streets, in the area called Midtown. Sabancı's first investment in Manhattan was a 4-story building, which he purchased in 2010, on 64th Street.

Alpay Koraltürk, the owner of the website Kaiyo on which second-hand furniture is sold, purchased his flats on the building located on 121 East 22nd street for 5,9 million dollars in 2019.

Two flats on the 68th floor of the Time Warner Center, which are designed by Turkish architect Mustafa Kemal Abadan, by Sakıp Sabancı's daughters Sevil and Dilek Sabancı back in 2004, for 3,9 and 4,8 million dollars. Dilek Sabancı sold her flat, which she had bought for 4,8 million dollars, to Household Name LLC in 2006, for 6,8 million dollars.

Hedge fund executive Adnan Cengiz Başkır bought a flat on the 69th floor of Time Warner Center for 3,9 million dollars in March of 2005. There is another flat, located near Time Warner Center on 25 Columbus Circle, belonging to the Baskir Gold Properties LLC, owned by Başkır. And, that flat has been bought by Başkır in January of this for 3 million 750 thousand dollars. Başkır also owns a flat on 50 West 47th Street, which he bought in 2013 for 2 million dollars.

In 2013, Turkey's famous jewelry company Gulaylar Group's branch in New York, the City's Property Development, bought three floors on International Gem Tower, located on 47th Street in Manhattan's Diamond District.

Bülent Eczacıbaşı, the head of the Board of Directors of Eczacıbaşı Holding, is among the Turkish millionaires who have a house in New York. He bought his 3-bedroom, 3 bathrooms flat on 530 Park Avenue for 8,5 million dollars in 2016.

Turkish socialite Yosun Mermerci Reza, who married businessman Olivier Reza in 2003 and moved to New York, bought her flat on 61th Street on Upper East Side for 8,5 million dollars in April of 2018. This flat has 3 bedrooms and 4,5 bathrooms. Yosun and Olivier Reza couple also owns a 500 square meters house worth of 14 million dollars, located in Saganponack area of New York.

Rena Kırdar, the daughter of Turkish millionaire Nemir A. Kırdar bought her flat located between Lexington Avenue and 72nd Street for 7 million dollars in 2016. Nemir A. Kırdar made his name heard when he bought leading fashion brand name firms, such as Gucci, Tiffany and Saks Fifth Avenue back in 1980's, under his company named Investcorp.

Murat Özyeğin, the son of businessman Hüsnü Özyeğin that founded FIBA Holding, bought his 3-bedroom flat located between Madison Avenue and 66th Street in 2008, for 6,3 million dollars.

Bulent Eczacıbaşı's brother Faruk Eczacıbaşı's flat, located on Greenwich Avenue and constructed in 1915, was worth 5,7 million dollars in 2015.

Nurol Holding Board of Directors Vice President Erol Çarmıklı and his wife Figen Çarmıklı bought their 2-bedroom flat, between Lexington Avenue and 58th Street, for 5,2 million dollars back in 2007.

The house, located on 5th Avenue, belonging to Ömer and Arzu Sabancı couple's children Kerim, Hacı, and Hakan Sabancı was worth 3,4 million dollars in 2015.

Ece Çalgüner, who works as an executive at one of New York's most famous architecture firms, Skidmore Owings & Merrill LLP (SOM), and her husband Ahmet O. Ezran bought their flat on 451 West Broadway for 4,5 million dollars in June of 2017. Constructed in 1880, the building is located around Chelsea.

The owner of one of the largest oil franchises of the USA, the Tümay Başaranlar's penthouse flat on Hudson Street was worth 3,5 million dollars in 2011. And, Aylin Tahincioğlu, the wife of Tahincioğlu Holding's Board of Directors President Özcan Tahincioğlu, bought her luxury flat on 36 Hudson Street for 4 million 750 thousand dollars in 2016. Under Tümay Başaranlar's management, Tahincioğlu also owns over 100 gas station across New York and New Jersey.

Mine Üçer, who is the wife of Gama Holding's President of Board of Directors Erol Üçer, owns a flat on 123 Sullivan Avenue worth of 3,7 million dollars. Üçer bought this flat in 2017.

Ayşe Weinberg, who works for the famous fashion brand Chanel as Purchasing Manager, owns a house on 85th Street which is worth 2,8 million dollars. And, the worth of the flat, on 65th Street, owned by Beyhan Zaim, who is the head of the business management department at Sunovion Pharmaceuticals, was 3,1 million dollars in 2015. Akin Holding's New York branch EDPA's former executive Ahmet Bereket bought his flat on 87th Street for 3 million dollars in 2012.

The flat on 86th Street owned by lawyer Yıldız Rabia Ferri and her husband was worth 3,3 million dollars in 2014.

In Manhattan, Sabancı Holding Board of Directors President Güler Sabancı and her sister Nur Sabancı owns two flats registered under Güler Sabancı and the Gulnur Group LLC, which Güler Sabancı founded together with her sister Nur. One of those flats is on the 16th floor of the Halcyon Building, located between 2nd Avenue and 51st Street. It was bought in 2015 for 3,5 million dollars. And, the other one, which was bought by Gulnur Development LLC for 2,7 million dollars in 2014, is on 22nd floor of Milan Condominium, located at 300 East 55th Street. Both flats were taken over by Güler Sabancı in January of 2020 under her and her sister’s name. The four-bedroom flat on Milan Condominium were rented out in March of 2021 for 12K dollars.

The former CEO of Coca Cola, Muhtar Kent, also owns a flat in Manhattan under his and his daughter Defne's name. This flat, located at 211 East 13th Street, was bought for 1,9 million dollars in 2015.

The flat that registered under the name of the heir to Alarko Holding, Cem Garih, was bought in 2011 for 1,8 million dollars. Fırat Çeçen, the CEO of Çeçen Construction, which operates under Çeçen Holding, bought his flat at 845 United Nations Plaza for 1 million dollars in 2009.

At the Plaza Hotel, one of New York's most prestigious buildings located at 768 5th Avenue, there are three flats bought by Babacan Plaza Ltd. The flats with door numbers 805, 807, and 808 were bought by Babacan Plaza Ltd in 2014 for a total of 39,5 million dollars. Headquartered in British Virgin Islands, Babacan Plaza Ltd's owner is not listed in the records.

The President of Global Relations Forum, the former executive of Turkish Airlines and lawmaker Cem Kozlu bought his flat on 21 Astor Place for 1,1 million dollars in 2004. And, there is a house on 22nd Street that was bought under Kozlu's wife Anne Seasholes name for 3,1 million dollars in December of 2014. Cem Kozlu's sons Bulent and Mehmet Kozlu bought, as an investment, two buildings in Brooklyn in 2016 and 2017 for a total of 7 million dollars.

Hedge fund executive Ahmet Okumuş, who is the owner of Okumus Capital, sold his property on 704 Broadway Unit 3FL, which he had bought for 5,9 million dollars in 2006, to Babacan Broadway Inc. in July of 2012.

Businessman Ilgar Peker, who has been running the Turkish Kitchen restaurant for nearly 25 years, also has an investment in real estate sector. Peker bought the building on 386 Third Avenue, which was built in 1920, for 12 million dollars in 2016.

Tarkan Bastıyalı, the owner of one of Midtown's most favored rooftops and event venues, located on 267 Fifth Avenue, also bought his house on 67th Street for 3,7 million dollars in 2010.

Famous soccer coach of Galatasaray, Fatih Terim, purchased the flat on 540 West 49th Street, for her daughter while she was studying in New York, for 2,7 million dollars in October of 2015.

In the flat on 81th Street between Lexington Avenue and Park Avenue lives Mica Ertegun, the wife of American jazz music's legendary name, the founder of Atlantic Records Ahmet Ertegun. Ertegun also owns another 3-story building on the same street. Both buildings were constructed in 1899 and each of them currently costs around 6 million dollars in the market today. Mica Ertegun uses one of the buildings as an office for her architecture firm which she established in 1967. On the same street, world star Madonna has 3 townhouses which she bought in 2009 for 32 million dollars.

Businessman Ayhan Türkbaş is among the Turks who first made investments in Manhattan in 1970's. Having made investments in Queens and in Brooklyn's Flatbush area, Türkbaş has also been the owner of the building on 176-178 Lexington Avenue since 1980.

In the famous 138 unit The San Remo building located at 145-146 Central Park West and with the view of the Central Park, renowned musician Arif Mardin also had a flat. Mardin's flat, which was in this building where celebrities such as Dustin Hoffman, Bruce Wills, Demi Moore, Diane Keaton, Bono, Donna Karan and Steves Jobs also resided, was sold by his heirs for 16 million dollars in 2015.

Turkish singer Sertab Erenes has a flat in Brooklyn and Orhan Pamuk, novelist, screenwriter, academic and recipient of the 2006 Nobel Prize in Literature also has a flat in New York City. His apartment is at 355 Riverside Drive and he purchased 1,8 million dollars in 2007.

HOTELS OWNED BY TURKS

Turkish entrepreneurs also have investments in hotels at various parts of Manhattan. The owner of Kiska Group opened the first of The Marmara Manhattan Hotel on 94th Street in April of 1998, and he opened the building located between Park Avenue and 32nd Street, which he had bought for 55 million dollars, for business as a five-star hotel in 2014.

The two buildings on Lexington Avenue and 57th Street, which were bought for 5,7 and 13,8 million dollars to make a part of The Marmara Group's hotels, were sold for 9,8 and 10,7 million dollars in 2019 as the project was terminated.

With 18 floors and 108 rooms, The MADE Hotel on 29th Street in NoMad neighborhood, was opened for business by businessman Erol Devli in 2017. The Hyatt House Manhattan, owned by Metin Negrin, who makes commercial and real estate investments through Lexin Capital, is also among the Turks that run a hotel in Manhattan. Negrin also has real estate investments in other states such as Arizona and Florida.

Having established KSK Construction LLC in August of 2002, Erden Arkan, Murat Ağırnaslı, Selim Akyüz and Hilmi Aydın finished their first project in 2009 in Brooklyn's Williamsburg. The partners, who invest in luxury condominiums, have nearly completed 50 different projects in Manhattan in residential, commercial and hospitality fields. Their firm has also become one of the most renowned Turkish company in the construction sector.

Ağırnaslı built, through his company Agime Group, 54 units and 25 story condominium, named 570 Broome, on Varick Street. Ağırnaslı had bought the land of his building, which was designed by Turkish architect Tahir Demircioğlu, for 31 million dollars in 2014. Among those that bought a flat from this project was the Emmy Award recipient Cary Fukunaga, who is also the director of the James Bond film.

The penthouse floor of the building was sold for 5 million 995 thousand dollars. And, Ağırnaslı lastly bought an old building to renovate in New Jersey's Paterson for 5 million dollars.

The project of KSK on 255 East Houston, which was started in May of 2017, consists of a 15-story building. 32 million dollars has been spent for this project.

The Turken Foundation, which was founded in New York in 2014 under the partnership of Ensar Foundation and TURGEV of Turkey, had bought two buildings between 2 Avenue and 41st Street. These buildings are being replaced with a 21-floor female dormitory with 82 dorms. Turken Foundation had bought these buildings, located on 762-766 2nd Avenue, in 2015 for 17,8 million dollars. Turken provides dorm services in 5 states, in cities like Chicago, Boston, Fairfax and Washington.

When Yıldız Holding purchased Godiva from Campbell Investment Company in 2008, they also took over 16 different Godiva stores and properties in Manhattan, Queens and Brookly price ranging from 8,811 dollars to 1,8 milyon dollars. Total amount of purchased building from Campell Soup was 5,7 milyon dollars. Campbell Soup had an agreement to sell its Godiva Chocolatier business for $850 million to Yıldız Holding A.S., which is the owner of the Ülker Group, a diversified food company based in İstanbul in 2008.        

TURKISH HOUSE
Another major construction project still in progress in Manhattan is the Turkish House. After the old consulate building was demolished and the land next to it was purchased, the 561 feet tall Turkish House has been built. This 32-story building on 821 First Avenue has been designed by Perkins Eastman. Once its construction is completely finished, it will be used as the Republic of Turkey's New York Consulate and UN Permanent Mission office.

From 20th to 32nd floor, there will be a total of 20 flats in the building. And, there will be terraces on the 7th, 11th and 16th floors. There is also an underground garage with 20 cars capacity on the basement of this building.

THE FIRST MANSION KNOWN
The Turk who is known to have bought a mansion as a first in Manhattan is tobacco industry's billionaire Morris Şinasi, who is a Sephardic Turk from Manisa province of Turkey. This 12 thousand square feet mansion was designed by William Tuthill, famous architect who also designed the Carnegie Hall concert hall.

The mansion, which was built in 1907, has also been used as the film set for Woody Allen's 'Bullets Over Broadway' movie.  It was sold for 14 million dollars in 2013. Located on 107th Street and Riverside Drive, this mansion had cost Morris Şinasi 180 thousand dollars, which today equals to 4,4 million dollars, back in 1907

In 1930, two years after Morris Sinasi's death, his family had sold the mansion to Semple Realty Corporation for 200 thousand dollars. Having sold all rights of his company to American Tobacco Company in 1916, Sinasi left a 8,5 million dollar worth of wealth to his heirs. Among the donations he listed in his will was Morris Sinasi Children's Hospital, which he wanted to be built in Manisa, Turkey. Around 1 million dollars of his wealth was spent for the construction and administration of this hospital. Chemical Bank of New York was then made the trustee for the project.

Name      Last Name              Address                                                                   Price                                        Last Sold Date       
Turgay Ciner                            124 55th Street New York, NY                                $22,900,00                              11/29/2018
Naciye Koçak                           432 Park Avenue, Unit 81A New York, NY              $21,156,800                            09/14/2016
Turgay Ciner                            768 5th Avenue, Unit 1509 New York, NY             $10,725,00                              09/22/2009             Turgay Ciner                                768 5th Avenue, Unit 1703 New York, NY             $9,334,410                              01/30/2008
Bülent Eczacıbaşı                    530 Park Avenue, Unit 7C New York, NY                $8,500,000                              01/13/2016            
Yosun Mermerci                     40 East 61st Street Unit 18A New York, NY            $8,500,000                              04/18/2018            
Seren Ceylan Shvo                  Time Warner Center 10 Columbus Circle 68E        $7,500,000                              12/15/2015
Rena Kırdar                             150 East 72nd Street, #10N, New York, NY            $7,050,000                              07/13/2016
Metin Negrin                          181 East 65th Street, Unit 28A New York, NY        $7,000,000                              06/29/2010
Seren Ceylan Shvo                  Time Warner Center 10 Columbus Circle 68C        $6,500,000                              02/07/2006
Murat Özyeğin                        40 East 66th Street, Unit 5C New York, NY            $6,313,150                              10/28/2008
Adnan Cengiz Başkır               80 Columbus Circle, Unit NT69E New York, NY      $6,000,000                              06/28/2019
Alpay & Başak Koraltürk         121 East 23rd Street, Unit N1305 New York, NY   $5,941,490                              05/16/2019
Faruk Eczacıbaşı                     412 Greenwich Street, Unit 2E New York, NY        $5,700,000                              07/10/2015
Deniz Başer                             155 Franklin Street, Unit 3N New York, NY            $5,520,000                              01/30/2015
Figen Çarmıklı                         151 East 58th Street, Unit 37F New York, NY        $5,225,000                              09/10/2007            
Hande Aydın Hammett          218 East 50th Street, New York, NY                       $4,875,000                              03/03/2016
Aylin Sinem Tahincioğlu         36 Hudson Street, New York, NY                            $4,750,000                              08/01/2016
Elif Öngören                            155 West 18th Street, Unit 801 New York, NY      $4,531,210                              11/14/2016
Ahmet & Ece Ezran                 451 West Broadway, Unit 2S, New York, NY          $4,500,000                              06/22/2017            
Selin Cebi & Seval Sürmen     530 Park Avenue, Unit 5C New York, NY                $4,378,480                              01/03/2014
Asuman Polat                          160 Central Park South, Unit 2305 New York         $4,300,000                              04/07/2006
Kenan C İnal                            210 West 90th Street, Unit 7LM New York, NY     $4,295,000                              11/05/2013
Bahar Emine Kural                  520 East 89th Street, New York, NY                       $4,250,000                              09/17/2014
Onur Başer                             195 Hudson Street, Unit 2D New York, NY            $4,230,000                              12/31/2020
Niloufar Tarkan                       15 East 26th Street, Unit 9E New York, NY            $3,985,000                              01/24/2014            
Nihat Güven                            101 Warren Street, Unit 11D New York, NY          $3,900,000                              06/04/2020
Tarkan Bastıyalı                      400 East 67th Street, Unit 19A New York, NY        $3,767,520                              04/06/2010            
Mine Üçer                               123 Sullivan Street, Unit 2 New York, NY               $3,700,000                              10/19/2017
Ali Fuat Erbil                            15 West 20th Street, Unit 8B New York                 $3,585,000                              12/01/2017
Güler & Nur Sabancı               305 East 51 Street #RU16A, New York, NY            $3,564,094                              09/04/2015 
Tümay Başaranlar                  36 Hudson Street, Unit PH New York, NY              $3,500,000                              05/18/2011
Fehmi & Elizabeth Karahan    20 East 74th Street, Unit 9A New York, NY            $3,450,000                              07/19/2018
Göksu Yolaç & Tolga Oğuz      124 Hudson Street, Unit 2A New York, NY            $3,450,000                              05/23/2012
Nihat Güven                            101 Warren Street, Unit 11B New York, NY           $3,446,780                              08/06/2008
Kerim, Hacı, Hakan Sabancı   641 5th Ave, Unit 34B New York, NY                     $3,425,000                              09/08/2015            
Yıldız Ferri                               160 West 86th Street Unit 12B, New York, NY      $3,325,000                              03/06/2014            
Soner Gedik                            127 8 Avenue, Unit 7D New York, NY                    $3,234,750                              09/30/2013
Eyüp Kahraman Deniz             565 Broome Street, Unit N12A New York, NY       $3,200,000                              10/30/2020
Fatih Aslanoba                        400 Fifth Avenue, Unit 44A New York, NY             $3,156,580                              11/30/2012            
Beyhan D Zaim                       200 East 65th Street, Unit 20B New York, NY        $3,150,000                              07/09/2015            
Hilmi Umut Özaydınlı             456 West 19th Street, Unit 23A New York, NY      $3,170,000                              02/11/2015
Cem Kozlu                               133 West 22nd Street, Unit 7E New York, NY        $3,170,000                              12/12/2014
Haro & Bilge Ö Cümbüşyan     605 Park Avenue Apt 20-A, New York, NY             $3,100,000                              07/02/2007
Ömer Gündoğdu                     2628 Broadway, Unit 15A New York, NY               $3,100,000                              05/03/2017
Pınar Kip                                  250 East 53rd Street, Unit 2404 New York, NY      $3,075,000                              03/02/2018
Musa Yeşil                              305 East 51st Street, Unit RU8C New York, NY      $3,068,320                              11/23/2015
Ahmet Bereket                       120 East 87th Street, Unit P16-D New York, NY    $3,050,000                              04/24/2012            
Marmara Realty LLC                560 Isham Street, New York, NY                             $3,000,000                              10/29/2004
Latife Feyza Kemahlıoğlu        77 Reade Street, Unit 4B New York, NY                 $2,985,000                              08/21/2017
Necip Tahsin Eltemur             52 East 4th Street, Unit 8 New York, NY                $2,980,000                              01/09/2015
Kerim Yeşil                              553 West 30th Street, Unit 39J New York              $2,932,220                              06/27/2019
Sinem Saniye Varoğlu             241 5 Avenue, Unit 4B New York, NY                     $2,876,560                              10/15/2015            
Mete Başakıncı                       21 West 20th Street, Unit 6 New York, NY            $2,874,220                              04/15/2016
Ayşe Weinberg                       35 East 85th Street, Unit 11E New York, NY          $2,850,000                              09/14/2012
Güler & Nur Sabancı               300 East 55th Street, Unit 22B New York, NY        $2,775,000                              03/24/2014
Cem Karacadağ                       129 West 77th Street, Unit 2 New York, NY          $2,700,000                              10/18/2010
Berna Erbilgin-Gündoğdu       650 Avenue Of The Amer, Unit 3F New York, NY  $2,698,360                              02/10/2012
Ayşe Z Kocabıyık                      150 West 56th Street, #5701 New York, NY          $2,112,500                              10/8/2015