Ralph Nakash is famous for two things: the denim brand "Jordache" which he runs with his two brothers and his "Versace" mansion in Miami that he famously purchased for $41.5 million in an auction last year.
Now, Nakash is in the news again for buying a plush pad in Fifth Avenue, New York City, for $6.95 million.
Nakash's new home is located in a 19-storey Co-op building in Lenox Hill. The condo has three bedrooms and four and a half bathrooms, which boasts of tiled and carpeted flooring, drywall ceiling and large glass windows with wooden doors.
Floor plans on Streeteasy show that the entrance opens into a gallery that has the dining room, the modern kitchen with a breakfast area and a maid's room to its right and the living room and library to its left. The master suite sits adjacent to the large living area.
Douglas Elliman's Tavivian Sporn Team represented Nakash. The seller was reportedly identified to be Morton L. Olshan, chairman and founder of Olshan Properties, who also happens to be a major stakeholder of the Yankee nets LLc, reports The New York Post.
Check out the photos of the home here.
The Nakash Brothers (Joe, Ralph and Avi) started their venture years ago, selling their jeans in a small clothes store that went on to become an iconic brand. However, they have diversified into various segments since then.
Real estate has now become a major business ventures for the Nakash brothers. They now own a number of hotels and properties around the world.
One of their major purchases was the famed Miami mansion that belonged to the fashion mogul Gianni Versace. The mansion was closed after Versace was found murdered at its footsteps. Over the years it went on to serve as a restaurant, a hotel and now reports have it that the Nakash brothers want to convert it into a museum dedicated to the late designer.
Read all Versace mansion coverage here.
They also market several brands and have stakes in several reputed companies. The Nakash brothers were largely unaffected by the recession. Speaking of their success to Jewish Business News, Joe Nakash - the oldest brother- explained:
"We knew to spread the risk among a wide variety of products."
"...we market products that are sold in massive quantities in large retail outlets like Wall-mart and K-mart at affordable prices. Our marketing strategy has survived even during the downturn... even made us profits," he added.
