Michael Tabor, a British gambling and horseracing mogul who now lives in Monaco, plans to auction 450 Park Avenue, the 32-story New York City office building he acquired in 2007 for $509 million through his family trust with private equity firm Somerset Partners,
the
Financial Times
reported.
That price set a record per square foot for a North American office tower, the report noted.
Tabor’s fortune of about £550 million comes from bookmaking, horse breeding and property, the
FT
article said. His family trust has teamed up with Somerset Partners on several deals for apartment buildings and office properties in New York and Washington, the article said. (Source:
Financial Times,
Sept. 11, 2013.)
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