New Delhi: Mukesh Ambani, the chairman of Reliance Industries and India’s richest individual, has invested in another upmarket property overseas. He has acquired a shell-and-core building at 11 Hubert Street in New York’s high-end Tribeca neighborhood for $17.4 million (approximately ₹153 crore). The purchase was made by Reliance Industries’ US subsidiary, RIL USA.
A building with history and potential:
The Tribeca property has an unusual history. The building sat vacant for nearly a decade, with grand redevelopment plans by its former owner, billionaire Robert Pera. He used to intend to convert the factory building into a 17,000-square-foot mansion, and even had a more elaborate blueprint in mind featuring a half-Olympic pool, seven bedrooms, and roof gardens. But that never materialized, and the property remained vacant until now.
For Ambani, the purchase comes at a price much lower than what the earlier owner paid and even below the property’s past listing of $25 million. It looks like a sharp and patient deal, something that Ambani has shown a knack for in both business and real estate.
Interestingly, this isn’t Ambani’s first brush with Manhattan’s luxury market. Just two years ago, he sold a two-bedroom condo in the West Village for $9 million. That apartment offered stunning views of the Hudson River, but Ambani seems to prefer rotating his high-value properties across global cities rather than holding on to them for long.
What could happen next?
Ambani’s exact plans for the Tribeca building are not public yet. But if he decides to use the existing architectural designs, the property could transform into one of New York’s most striking modern mansions, complete with luxury amenities like an NBA-sized basketball court, double-height living room, and even an Olympic-size pool. Given Ambani’s taste for statement homes (think Antilia in Mumbai or his Dubai mansion), it wouldn’t be surprising if 11 Hubert Street gets a world-class makeover
With his net worth of nearly $98 billion in September 2025, Ambani is among the world’s wealthiest individuals. Such gestures reflects not merely his own lifestyle, but also the growing global reach of Indian tycoons. Real estate in urban centers like New York, London, and Dubai is entering the coffers of India’s top business dynasties, which see such property as symbols of prestige and sagacious investments.
