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One time designer jeans mogul Ralph Nakash has bought a new coop which overlooks Central Park.
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Only a year after the Nakash brothers bought the Versace mansion in Miami, Ralph Nakash of Jordache Enterprises has acquired a cooperative apartment at 812 Fifth Avenue in Manhattan for $6.9 Million.
The apartment has three bedrooms, four and one half bathrooms, a living room, a library and a master bedroom. It faces Central Park.
Built in 1963, 812 Fifth Avenue is a 19 story limestone cooperative apartment building. It has thirty apartments and a stringcourse above the first floor. There is a garden, a storage room, a laundry, but no pets are allowed.
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Nelson Rockefeller, four term New York governor and member of the famed philanthropic family, the Rockefellers, once lived there.
Mr. Nakash acquired the apartment from Morton L. Olshan, founder and chairman of Olshan Properties and a principal owner of Yankee Nets LLC. Olshan was represented by Douglas Elliman’s Tavivian Sporn Team.
Joseph Nakash, 62, is an American businessman, real estate investor and co-founder of Jordache Enterprises. He was born in Syria to a Sephardic Jewish family and came to America in 1962 when he was only twenty years old.
A self-made man, Nakash began his career selling irregular jeans in the 1970’s with his two brothers. By the end of the decade they had established what would become one of the most notable designer jeans labels, Jordache. That brand took off with television commercials that featured the actress and model Brooke Shields.
The brothers acquired a 50% share of Guess Jeans in 1983 and they also founded Yama Maritime Inc. which owned eight cargo ships. When the Jordache brand waned they began to invest in real estate in both New York and Israel.
The brothers now own five hotels in Miami Florida as well as Israel’s Arkia airline.
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