Category: Archive

Irish group to buy New York City landmark

February 17, 2011

By Staff Reporter

The building, at Madison Avenue and 72nd Street, is currently home to Ralph Lauren’s flagship store in the city, while Sloane Capital is a vehicle for prominent Irish businessmen John Magnier, J.P. McManus and Aidan Brooks.
The Rhinelander Mansion was designed by Kimball & Thompson in the 1890s. The woman who had asked for it to be built fell into debt during its construction; it was never lived in. The mansion gradually fell into disrepair over the decades. But it got a new lease of life when Ralph Lauren launched a massive renovation project in the 1980s. The store opened in 1986.
The businessmen who guide Sloane Capital are among the most famous — if enigmatic — in Ireland.
John Magnier has made a fortune through bloodstock, in part because of Ireland’s generous tax laws for stud farms. The secretive Magnier owns the Coolmore Stud in County Tipperary and is thought to be worth more than $370 million.
J.P. McManus is a legendary gambler and racehorse owner. His fortune is similar to Magnier’s in size.
The two men also have a significant shareholding in Manchester United. There have been persistent rumors that they ultimately want to take over the world-famous soccer club.

Other Articles You Might Like

Sign up to our Daily Newsletter

Click to access the login or register cheese