New York billionaire Leon Black exited his investment group Apollo Global Management this year. He agreed to buy a house worth £21 million in the luxurious Belgravia neighbourhood of London.
According to people familiar with the matter, a transaction for the acquisition of 93 Eaton Square was signed in recent days.
People familiar with the matter added that the asking price Black paid for the six-bedroom house was £2 million less than £23 million. Beauchamp Estates has been marketing the property since the summer. Black and his family declined to comment.
When the real estate deal was concluded in the British capital, Blake’s star gradually dimmed in his hometown. After conducting an independent investigation of his business ties with the late sex offender Jeffrey Epstein, he resigned as the global chief executive officer of Apollo in March and resigned from the Museum of Modern Art in New York shortly afterwards. Chairmanship.
The sale is one of many high-end London residential transactions that took place during the pandemic. But according to a real estate agent, with some houses in London selling for more than £100 million, Black’s new properties are “not even at the top of the second line”.
Black co-founded Apollo in 1990 with former colleagues of a group of failed investment banks Drexel Burnham Lambert, and he is buying a property that has long been in the hands of outstanding owners.
The house was formerly owned by Henry Ford II, the former head of the automaker of the same name and grandson of the founder, and his wife Catherine Durosfort. Company records show that when DuRoss Ford passed away in May 2020, control of the property was transferred to her longtime lawyer and caregiver Frank Chopin.
A year before her death, Ford’s children sued Chopin in an attempt to deprive him of control of his mother’s finances, but failed. Chopin did not respond to a request for comment.
Earlier this century, 93 Eaton Square was the residence of Stanley Baldwin, who served as Prime Minister of the United Kingdom from 1935 to 1937.
This Grade II listed building dates back to 1827. Like its neighbors on the garden square, it was designed by architect Thomas Cubitt.
Although the Ford family has made some modernizations, the property still retains many Regency features, including a reception room with a 14-foot ceiling.
“This is a good address, but you need a miner’s lamp to live there,” a real estate agent said of the ground and bottom properties.
The former residents of the square include Chelsea Football Club owner Roman Abramovich, food writer Nigela Lawson and her then husband and advertising director Charles Saatchi.
After a rigorous review of his personal business activities, Black resigned from Apollo. According to a report by Dejie Law Firm, he paid Epstein US$158 million during the five-year period ending in 2017, and the investment company made the report public in January.
The report did not find evidence of any wrongdoing by Black or knowledge of Epstein’s allegations of operating an international sex trading group.