Istanbul’s Bebek mansion sold for a record $33.6M
Mansion in Bebek, Istanbul. (Anadolu Images)
A historic mansion in Istanbul’s prestigious Bebek neighborhood has been sold for a record-breaking $33.6M (1.1 billion Turkish liras). The property, once owned by Koza-Ipek Holding, features 925 square meters of enclosed space and a 208 square meter terrace.
The Savings Deposit Insurance Fund of Türkiye (TMSF) facilitated the sale following the loss of an arbitration case in the UK High Court by the former owner. The mansion had initially been auctioned with a starting bid of 750 million Turkish liras.
The auction, which drew four bidders, concluded after three hours of competitive offers. Oyak Cimento, a company with 70% foreign investment, emerged as the new owner with the highest bid of 1.1 billion Turkish liras.
This sale sets a new benchmark in Istanbul’s real estate market, highlighting the rising value of prime properties in the city. The Bebek mansion, with its expansive indoor space and terrace, exemplifies the luxurious and sought-after nature of real estate in this area.
The former owner had lost two international arbitration cases against Türkiye, leading to the liquidation of the mansion. The record sale of the Bebek mansion underscores the high demand and escalating prices in Istanbul’s elite real estate market.
