09 September 2015

Alibaba GC buys Angelina Jolie mansion

Alibaba GC spends big on property after a successful twelve months at Jack Ma's e-commerce empire.

By Bernard Goyder


Timothy Steinert, the GC of China's e-commerce empire Alibaba, has swooped on a lavish property in Manhatten previously lived in by Angelina Jolie and Igor Stravinsky. Mr Steinert, who played a crucial role in Alibaba's US$25bn IPO last year, is paying US$9.4m for the 1,370² metre (4,500² foot) penthouse on the Upper West Side. Alibaba are evidently reimbersing Mr Steinert for his efforts over the past year; the company's successful IPO has been followed up by a M&A splurge, with a US$3bn investment in conventional mall operator Suning this summer. Mr Steinert bought the property from Michel Madie, a real estate entrepreneur. The New York Post reports that the house comes with original herringbone floors and restored windows. When owned by William Earle Dodge Stokes, a menagerie was kept on the roof housing 500 chickens, ducks, goats and a small bear. Source: New York Post

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