Mukesh Ambani, India’s top industrialist, has bought a building in New York City’s upscale Tribeca neighborhood. The property, located at 11 Hubert Street, was purchased for $17.4 million by his U.S. arm and had been unoccupied for roughly ten years, despite earlier plans by its former owner to convert it into a lavish single-family home.
The seller was tech entrepreneur Robert Pera, founder and CEO of Ubiquiti, who had bought the Tribeca building in 2018 for about $20 million. Over time, he secured approvals for ambitious renovation plans—submitted by architect Eric Cobb—that included a massive mansion layout spanning multiple floors. None of those grand redevelopment plans were ever realized.
Before this deal, Ambani had sold a two-bedroom condo in Manhattan’s West Village in 2023 for $9 million. That transaction highlighted his investments in New York real estate and this recent purchase furthers that trend.
Ambani’s acquisition is notable not just for its price but for its timing and location. Tribeca is among Manhattan’s most desirable districts—sought after for its mix of historic character and luxury lifestyle. Market analysts suggest Ambani’s move signals continued interest by Indian billionaires in New York real estate. While exact future plans for the building are not yet public, the property comes with approved design plans that significantly enhance its potential value.
