Tags: david koch | julia koch | mansion

David and Julia Koch Put Down $40M in Cash for Mansion

David and Julia Koch Put Down $40M in Cash for Mansion
David Koch (AP)

By    |   Wednesday, 29 August 2018 08:18 AM

David and Julia Koch, the richest couple in New York, put down $40 million in cash for an Upper West Side mansion after visiting a decorator show house earlier this summer, sources told the New York Post.

They immediately wanted the 15,000-square-foot home on East 76th Street and decided to put down $40.25 million to secure the mansion, which was reportedly listed for $51 million.

“They just fell in love with it and felt like they had to have it,” a source said.

The property belonged to Joseph Chetrit, a real-estate mogul who purchased a row of six 19th century houses, including the mansion, over a decade ago for $26 million.

He then converted the houses into three double-wide mansions, with the largest one being scooped up by the Kochs, whose estimated net worth is $47.5 billion.

For perspective, an average New York City apartment sells for an estimated $1.137 million, Curbed noted, and residents are battling to afford those costs.

The Kochs didn’t blink an eye when they put down the cash for their mansion and while they are living in the lap of luxury, the couple are also keen philanthropists.

They have donated over $900 million to numerous educational causes, health related causes, art and cultural causes, and social causes, Wealth-X said.

Earlier this year, David Koch announced his plans to retire from leadership roles at Koch Industries and the so-called Koch network of wealthy right-leaning donors for health reasons.

The 78-year-old business tycoon was diagnosed with prostate cancer more than two decades ago and his health has been deteriorating.

As of July 2014, he tied with Charles as the sixth wealthiest person in the world, with a net worth of $41.5 billion.

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David and Julia Koch, the richest couple in New York, reportedly put down $40 million in cash for an Upper West Side mansion after visiting a decorator show house earlier this summer.
david koch, julia koch, mansion
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2018-18-29
Wednesday, 29 August 2018 08:18 AM
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