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Investment banker Ken Moelis has sold his condo at the Plaza Hotel for $10.75 million. He bought it for a higher $11.23 million in 2007.
Moelis advised Saudi Arabia’s public offering of its national oil company, Aramco — it was the world’s largest IPO in 2019, valued at $2 trillion. This week, Aramco posted a record net income of $161.1 billion for 2022, up by 46.5% over the year.
This condo sale comes shortly after Moelis sold $9 million worth of shares in his eponymous outfit, Moelis & Co., last November.
In 2018, Moelis made a controversial decision to attend a Saudi investment conference shortly after Saudi critic Jamal Khashoggi was murdered in a Saudi embassy in Istanbul. While at the “Davos in the Desert” conference, Moelis spoke on a panel with the head of Russia’s VTB Bank, which was under US sanctions at the time, and still is.
Moelis’s attendance at the conference was noteworthy, given that many top Wall Street leaders, from Jamie Dimon to Laurence Fink, canceled their attendance to protest Khashoggi’s murder. Also in 2018, Moelis bought a $62 million penthouse at 520 Park Ave., according to reports.
The Post has reached out to Moelis for comment.
The buyer of the Plaza condo is Michael Flacks, founder of Flacks Group, an investment firm.
The three-bedroom, three-bath home was done up by interior designer Kerry Joyce. It features 12-foot ceilings, inlaid herringbone floors, hand-painted mural walls and bespoke moldings, millwork and custom shelving — along with picturesque views of Central Park from all the windows.
It once took fashion designer Tommy Hilfiger 11 years and a massive price chop to sell his Plaza unit. Hilfiger bought his spread for $25.5 million in 2008 and once asked $80 million for it before finally selling it in 2019 for $30.1 million.
This year, however, there have already been three sales at the Plaza, with four more units in contract.
Brokers Liza and Isaac Nematnejad of Douglas Elliman had the listing while Douglas Elliman’s Alexander Pisa repped the buyer. All brokers declined to comment.