Alo Yoga, say “alo” to your new landlord – a mysterious Qatari Sheikh whose charity has reportedly been attacked by his country’s rivals in the Middle East for suspected links to terrorism.
Qatari Sheikh Thani bin Abdullah bin Thani al-Thani last week closed the $ 40 million purchase of 164 Fifth Ave., a beautiful 1918 six-story Flatiron building located between West 21st and 22nd Street.
The 17,600 square feet is home to LA-based Alo Yoga’s New York flagship, which houses a yoga studio and women’s athletic apparel shop, filled with sexy photos of lithe young men and women in what the brand calls “ mindful moments. . Celebrity chef Matthew Kenney’s new restaurant, Sutra, is coming to the top floor soon.
The sale was a modest shot in the arm for the dormant investment selling market – Sitt bought 164 Fifth in 2014 for just $ 23 million. Sources said the sheik’s purchase was likely for investment purposes as Alo Yoga still has 13 years of rent.
But the sheik himself is perhaps the most interesting part of the story. He signed the purchase papers in his own name – a rarity when most foreign buyers hide their identities behind limited companies.
The personal signature suggests a man who has nothing to hide. And while he is little known outside the Middle East, the ultra-rich royal family – a member of Qatar’s ruling al-Thani family – is embroiled in a whirlwind of intrigue involving Qatar and four neighboring Persian Gulf states holding a grudge over the growing wealth and influence of Qatar.
Sheikh al-Thani is the founder and director of Doha, the Qatar-based real estate giant Ezdan Holding – technically a public company, but 94 percent of which is owned by members of the al-Thani family. The octopus-like real estate empire reported third quarter net income of $ 57 million, down from $ 140 million in the same period in 2019.
It is not clear from public records whether the sheik purchased the building personally or through Ezdan; the title is in the name of 164 Fifth Ave., Inc. at 599 Lexington Ave.
But while Ezdan’s website lists the Sheikh’s roles in various medical, educational and humanitarian charities, it curiously omits the one for which he is controversial. He is also a founding member of the Thani Bin Abdullah Bin Thani Al-Thani Humanitarian Fund, according to his profile on UNHCR, the UN refugee agency to which he has donated generously.
Also known as RAF for its Arabic initials, the foundation appeared on a 2017 list of 59 Qatari individuals and organizations suspected of assisting terrorist groups in Turkey by the United Arab Emirates, Saudi Arabia, Bahrain and Egypt , 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 carried out a punitive trade boycott against Qatar. In fact, the Saudis once started up 12,000 Qatari camels that had strayed into their territory.
President Trump has suggested that Qatar has terrorist ties, but the claims have not been verified. The United States has a large air base in Qatar.
Trump said last year, “They are investing very heavily in our country. They create many jobs. They buy massive amounts of military equipment, including aircraft. “
Emails asking for comment via Ezdan’s website and the al-Thani humanitarian fund were not returned.