Chinese billionaire buys NY mansion for $32m

PHOTO: Chinese billionaire buys NY mansion for $32m

One of China's wealthiest women, Zhang Xin, has won the bid for a US$26 million (S$32.46 million) Manhattan mansion which had potential buyers including Brad Pitt, Leonardo DiCaprio and a Saudi prince, Mingtiandi reported.

The Chinese real estate website reported on Monday that Zhang, CEO of Beijing-based developer SOHO, managed to buy the house at US$4 million less than the US$30 million asking price.

Chinese billionaire beats Brad Pitt to NY mansion at $26m

  • One of China's wealthiest women, Zhang Xin, has won the bid for a US$26 million Manhattan mansion.
  • It reportedly had potential buyers including Brad Pitt, Leonardo DiCaprio and a Saudi prince.
  • The Chinese real estate website reported on Monday that Zhang, CEO of Beijing-based developer SOHO, managed to buy the house at US$4 million less than the US$30 million asking price.
  • The 19th century mansion at 45 East 74th Street was previously owned by Italian real estate developer Valerio Morabito, who purchased the property for US$10 million in 2009, Wall Street Journal reported.
  • The movie producer had spent another US$10 million renovating the property.
  • With 5 intricately decorated bedrooms and 7.5 bathrooms, the luxury townhouse was designed by well-known architect Joseph Pell Lombardi.
  • It features a handcrafted limestone facade and even has its own lift, spas, swimming pool, pool room and gym areas.
  • The home is so elaborate and detailed that it even has a wine cellar, 3 fireplaces and 2 separate pantries.
  • The jacuzzi on the roof terrace and beautiful garden spaces also make spectacular entertainment spaces.
  • Just a few days ago, Chinese billionaire Wang Jianlin ,who owns rival developer firm Dalian Wanda, purchased a Picasso painting for US$28.2 million.
  • Zhang, who is married to her business partner Pan Shiyi. is known for her rags-to-riches story.
  • As a second generation immigrant from Burma, Zhang had worked in small factories in Hong Kong when she was just a child.
  • She had reportedly saved up to buy herself a ticket to London and supported herself through secretarial school.
  • She later graduated with a Master's Degree in Development Economics from Cambridge University.
  • Today, she has an estimated net worth of US$ 3.6 billion.
  • As a second generation immigrant from Burma, Zhang had worked in small factories in Hong Kong when she was just a child.
  • Today, she has an estimated net worth of US$ 3.6 billion.



The 19th century mansion at 45 East 74th Street was previously owned by Italian real estate developer Valerio Morabito, who purchased the property for US$10 million in 2009, Wall Street Journal reported. The movie producer had spent another US$10 million renovating the property.

With 5 intricately decorated bedrooms and 7.5 bathrooms, the luxury townhouse was designed by well-known architect Joseph Pell Lombardi.

It features a handcrafted limestone facade and even has its own lift, spas, swimming pool, pool room and gym areas. The jacuzzi on the roof terrace and beautiful garden spaces also make spectacular entertainment spaces.

The home is so elaborate and detailed that it even has a wine cellar, 3 fireplaces and 2 separate pantries.

Just a few days ago, Chinese billionaire Wang Jianlin ,who owns rival developer firm Dalian Wanda, purchased a Picasso painting for US$28.2 million.

Zhang, who is married to her business partner Pan Shiyi. is known for her rags-to-riches story. As a second generation immigrant from Burma, Zhang worked in small factories in Hong Kong when she was just a child.

She had reportedly saved up to buy herself a ticket to London and supported herself through secretarial school. She later graduated with a Master's Degree in Development Economics from Cambridge University.

Today, she has an estimated net worth of US$ 3.6 billion.