Jho Low’s Luxury New York Condo Sold at RM27M Loss

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A luxury condo unit in New York belonging to fugitive Low Taek Jho, better known as Jho Low, has been sold by the US government at a discounted rate.

The two-bedroom, 16th-floor unit, on Prince Street — also known as Greene Street — was sold to an anonymous limited liability company for US$7.6 million (RM33 million), real estate portal The Real Deal reported.

It said Low bought the home in 2014 for US$13.8 million. It was offered for US$9.9 million when first listed for sale last July and the price went down to US$8.5 million last month.

Low’s properties bought in New York and California have been the subject of forfeiture lawsuits mounted by the US government, which accused him of buying them using money stolen from Malaysia’s sovereign wealth fund, 1MDB.

In March, it was reported that a mansion perched atop the Hollywood Hills, purchased by Low for a record US$38.98 million in November 2012, was finally sold for US$18.5 million.

Other notable purchases by Low included the US$250 million yacht Equanimity (renamed Tranquility after it was purchased by Genting Malaysia Bhd for US$126 million), a Bombardier jet that is grounded at Singapore’s Seletar airport and US$100 million artworks, including by Pablo Picasso and Jean-Michel Basquiat. – FMT