Turkish-American billionaire buys iconic Bosphorus mansion in Istanbul for $45M

Feyyaz Tokar’s iconic Bosphorus mansion, a landmark property on Istanbul’s Bosphorus, is about to welcome a new owner.

Hamdi Ulukaya, the Turkish-American billionaire known as the founder of Chobani yogurt, has started the process to acquire the luxurious estate for $45 million.

This move adds a historic piece of Istanbul to Ulukaya’s portfolio while drawing global attention to the prestigious Bosphorus region.

Hamdi Ulukaya begins purchase process for Bosphorus mansion, paying $45 million

Feyyaz Tokar’s Bosphorus mansion, located in Beykoz on the Asian side of Istanbul, is a prime example of the grandeur of Bosphorus estates.

Ulukaya, whose net worth was estimated at $2.5 billion in 2024 by Forbes, began leasing the mansion at the start of 2024 for $120,000 per month. He paid the full year’s rent upfront, securing an option to purchase the property. Recently, he exercised this option and began the purchase process.

Ulukaya gained global recognition by transforming Chobani into one of the most successful yogurt brands in the United States.

Despite his success abroad, he maintains strong ties to Türkiye and frequently invests in Turkish properties. The acquisition of the Feyyaz Tokar mansion further strengthens these ties.

History of Feyyaz Tokar’s Bosphorus mansion, previous owners

The mansion has changed hands among prominent owners over the years. Ahmet Okumus, a Turkish-American investor specializing in finance, bought the property in 2012 for $25 million.

After restoring the Bosphorus mansion, he used it as his private residence. Later, Russian billionaire Roman Abramovich rented the estate, adding to its prominence.

The Feyyaz Tokar mansion is celebrated for its architectural beauty and prime location along the Bosphorus. These factors have made it one of the most sought-after properties in Istanbul. The property’s stunning design and historical value continue to attract wealthy individuals from around the world.

Why Istanbul’s Bosphorus mansions attract wealthy buyers globally

The sale of the Feyyaz Tokar mansion underscores the global demand for properties along Istanbul’s Bosphorus. Wealthy buyers, including expatriates and international investors, view these mansions as status symbols and valuable investments.

Their strategic location of the Bosphorus mansion, offering a blend of historical charm and modern luxury, makes them irresistible to high-net-worth individuals.

Hamdi Ulukaya’s decision to invest in the Feyyaz Tokar mansion not only highlights his connection to Türkiye but also reflects the ongoing appeal of Istanbul’s real estate market.

As he prepares to finalize the transaction, the historic property will soon enter a new chapter under his ownership, reinforcing the timeless allure of the Bosphorus as a destination for luxury living.