News Summary
Mukesh Ambani, Chairman of Reliance Industries, has made a significant real estate investment by purchasing a $17.4 million building at 11 Hubert Street in Tribeca, New York City. This acquisition marks his return to the NYC market after selling a condo nearly two years ago. The purchase was made by RIL USA and reflects a shift in the property’s market value compared to its previous ownership. Ambani’s notable investments in U.S. real estate underscore his continuing interest in prime urban locations amidst changing market dynamics.
New York City – Mukesh Ambani, the Chairman of Reliance Industries and one of the world’s wealthiest individuals, has made a significant real estate investment by purchasing a building in the affluent Tribeca neighborhood for $17.4 million. The property is located at 11 Hubert Street and represents Ambani’s return to the New York City market nearly two years after he sold his two-bedroom condo in downtown Manhattan.
This recent acquisition comes on the heels of Ambani’s sale of his previous residence in Manhattan’s West Village in August 2023 for $9 million. The purchase of the Tribeca property was made by RIL USA, the United States arm of Reliance Industries Limited. Notably, the sale price is below the $20 million that tech billionaire Robert Pera paid for the same building in 2018, indicating a change in the property’s market value over time.
The history of the 11 Hubert Street location is notable. Once owned by Pera, the chairman and CEO of Ubiquiti, the property was initially envisioned as a luxury residence. Pera hired architect Eric Cobb to draw up plans for a 17,000-square-foot mansion; however, these plans were never realized. Pera later listed the property in 2021, asking for $25 million and including all approved plans for a “vacant development site.”
Prior to Ambani’s acquisition, the building had remained vacant for a decade. Previous development concepts included an ambitious plan by renowned architect Maya Lin, who proposed a 20,000-square-foot megamansion rich with luxury features. The current state of the property reflects the ongoing transformation of the neighborhood, which has shifted from industrial buildings to high-end residential units over the years.
Apart from his ventures in real estate, Mukesh Ambani, with an estimated net worth of $97.9 billion as of September 1, 2025, ranks as the 18th richest person in the world. He remains the wealthiest individual in India, surpassing rival Gautam Adani, who holds a net worth of $82.1 billion. Ambani’s massive fortune primarily originates from his company, Reliance Industries, which has diversified interests in sectors including oil, telecommunications, and retail.
This new purchase reflects Ambani’s continued interest in U.S. real estate markets, complementing his extensive portfolio, which also includes a lavish 27-story mansion in Mumbai, properties in Dubai, and residences in Buckinghamshire, England. The 11 Hubert Street building’s corner lot at Hubert and Collister Streets signifies Ambani’s strategic investments in prime urban locations.
As the Tribeca neighborhood evolves, it remains a sought-after area by affluent buyers looking to invest in high-end real estate. The transformation of the former industrial zone into a desirable residential enclave represents both the changing dynamics of New York City and the ongoing demand for luxury properties within its bounds. Mukesh Ambani’s latest acquisition is a testament to his influential presence in the global market and the prestige associated with real estate in one of the world’s most iconic cities.
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Additional Resources
- Live Mint
- Wikipedia: Mukesh Ambani
- Hindustan Times
- Google Search: Mukesh Ambani
- Financial Express
- Google Scholar: Mukesh Ambani real estate
- Curbed
- Encyclopedia Britannica: Mukesh Ambani
- Mathrubhumi
- Google News: Mukesh Ambani Tribeca
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
