Real Estate Weekly
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HAVE YOU HEARD? Disgraced former Brazilian governor buys Park Ave condo

A WEALTHY Brazilian developer who resigned as governor of Brasília after being accused of taking bribes, has bought a luxury condo at 520 Park Avenue for $16.295 million.
City records show Paulo Octavio Alves Pereira, as president of Holland Trading Limited, purchased the four bedroom apartment #16.
Pereira was among a slew of secret Miami condo buyers uncovered in the Miami Herald investigation of the Panama Papers in 2016.
The newspaperʼs investigation found 19 foreign nationals creating offshore companies and buying Miami real estate. Of them, eight had been linked to bribery, corruption, embezzlement, tax evasion or other misdeeds in their home countries.
Built by Zeckendorf Development and designed by Robert AM Stern, 520 Park Avenue has a total of 35 luxury homes.
To date, 14 have been sold for nearly $457 million, according to public records. All but two have been purchased by LLCS, some of which were subsequently identified as Dyson vacuums guru James Dyson, billionaire UFC boss Frank Fertitta and former Barclays CEO Bob Diamond.
Also yesterday, 520 Park PH48 LLC closed on Penthouse 48 at the luxury building for $32.396 million, according to city documents.
Nearly half of the luxury skyscraper’s 35 apartments have now been snapped up at prices averaging just over $6,000 psf.
Three apartments are now being offered for rent by their new owners at around $60,000 a month.
Brothers William Lie and Arthur Zeckendorf spent $58 million putting together the assemblage — which included air rights from the Christ Church — to build their luxury building in 2015. Closings began in September.

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