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Mukesh Ambani, India’s richest man, has reportedly purchased a building in New York City’s Tribeca neighbourhood for $17.4 million, two years after selling his two-bedroom condo in downtown Manhattan for $9 million.
The property, located at 11 Hubert Street, had been vacant for a decade, despite previous owners’ ambitious plans to convert it into a single-family mansion. RIL USA, the US arm of Reliance Industries Limited, acquired the building for slightly less than the $20 million tech billionaire Robert Pera, chairman and CEO of Ubiquiti, paid in 2018.
After acquiring it, Pera engaged architect Eric Cobb to submit plans for a 17,000-square-foot mansion, which was never realised. In 2021, Pera listed the property along with approved designs, including Cobb’s and an earlier one from Maya Lin Studios, for $25 million. The listing described it as “an exceptionally rare offering for an end user to build a single-family mansion in an A+ location in the heart of Tribeca.”
Cobb’s proposed design featured a full-floor primary suite with adjacent workspace, an NBA-sized half basketball court, a double-height living room with courtyard access, a formal dining room with a bar, and more. Maya Lin’s concept imagined a 20,000-square-foot mega mansion with seven bedrooms, 5,000 square feet of outdoor space, a half-Olympic swimming pool, and a breakfast room, among other amenities.
The acquisition adds to Ambani’s growing global real estate portfolio and signals renewed interest in high-value international assets. While plans for the site remain undisclosed, the Tribeca purchase positions RIL for a potential landmark residential development in one of Manhattan’s most coveted enclaves.
