Hello Yoga, say hello to your new owner – a mysterious Qatari sheik whose charitable foundation has been reported by Middle Eastern rivals in his country on suspicion of links to terrorism.
Sheikh Thani bin Abdullah bin Thani al-Thani of Qatar last week closed a $ 40 million purchase of 164 Fifth Ave., a beautiful, six-story, 1918-story building between West 21 and 22 streets.
The 17,600-square-foot Los Angeles-based Alo Yoga flagship is home to a Los Angeles-based yoga studio and sportswear store full of sexy photos of young men and slim men in what the brand calls “Moments of attention”. The famous restaurant of the famous chef Matthew Kenney, Sutra, will soon come to the top floor.
The sale was a modest blow to the deferred investment market – Sitt bought 164 Fifth in 2014 for just $ 23 million. Sources said the purchase of the sheikh was probably for investment purposes, as Alo Yoga has another 13 years to lease.
But the sheikh himself could be the most interesting part of the story. He signed the purchase documents in his own name – a rarity when most foreign buyers hide their identities behind limited liability corporations.
The personal signature suggests a man with nothing to hide. And, although little known outside the Middle East, the ultra-rich king – a member of Qatar’s al-Thani family – is caught in a whirlwind of intrigue involving Qatar and four neighboring Persian Gulf states resentful of Qatar’s growing wealth and influence. .
Sheikh al-Thani is the founder and director of real estate giant Ezdan Holding in Doha, Qatar – a publicly traded operation, but 94% of whose shares are controlled by members of the al-Thani family. The octopus-like real estate empire reported a net profit in the third quarter of $ 57 million, down from $ 140 million in the same period in 2019.
From public records it is not clear whether the sheikh bought the building in person or through Ezdan; the title is in the name of 164 Fifth Ave., Inc. at 599 Lexington Ave.
But while Ezdan’s website cites the sheikh’s roles in several medical, educational and humanitarian charities, he curiously omits the one for which he is controversial. He is also a founder of the Thani Bin Abdullah Bin Thani Al-Thani Humanitarian Fund, according to his profile at UNHCR, the UN refugee agency to which he has donated extensively.
The foundation, also known as the RAF from its Arabic initials, appeared on a 2017 list compiled by the United Arab Emirates, Saudi Arabia, Bahrain and Egypt of 59 people and organizations in Qatar suspected of helping terrorist groups in Turkey. Syria, Gaza, Iraq and within their own borders, according to Arab News, an English-language newspaper published in Saudi Arabia.
The four countries ended diplomatic relations with Qatar in 2017 and have since led a trade boycott against it. The Saudis once harvested 12,000 camels from Qatar that wandered into their territory.
President Trump has suggested that Qatar has terrorist links, but the allegations have not been verified. The United States has a large air base in Qatar.
Trump said last year: “They are investing a lot in our country. It creates a lot of jobs. Buy huge amounts of military equipment, including airplanes. “
Emails requesting comments sent to the sheikh via Ezdan’s website and to the al-Thani humanitarian fund were not returned.