Latest news with #Arabo
New York Post
10 hours ago
- Entertainment
- New York Post
Jacob the Jeweler bought his son a $4.72M home in NYC
Jacob Arabo, an Uzbekistan-born jeweler to the stars — who creates watches worth millions more than most people spend on their homes — just purchased a $4.72 million jewel-box home for his son, Gimme Shelter has learned. The two-bedroom, 2.5-bath residence is at 53 W. 53rd St., which stands 1,050 feet high in Midtown. The tower, which rises above the Museum of Modern Art, was designed by Pritzker Prize-winning architect Jean Nouvel with interiors by the late Thierry Despont. Advertisement 5 Arabo has long had a number of A-list clients, such as Madonna. Getty Images for Bulgari 5 Arabo's pieces sell in the millions of dollars. WireImage 5 The home's modern kitchen. Douglas Elliman Development Marketing Arabo lives nearby in a $16.1 million aerie at 432 Park Ave. on Billionaires' Row. He bought that residence in his wife Angela's name for $16.1 million in 2016, Page Six reported. His son's name was not disclosed. Advertisement Known as 'Jacob the Jeweler,' Arabo's clients include Madonna, Rihanna, Pharrell Williams and Tom Brady. To put the $4.7 million apartment purchase price into perspective, it's less than the cost of two watches that Arabo, founder of Jacob & Co., sells for a cool $3 million apiece. In February, Brady, the retired NFL quarterback, aired a now-viral video on his YouTube channel showing the moment he gifted his 15-year-old son Benjamin a $3 million Jacob & Co. watch just before the Super Bowl, Page Six also reported. 'Yo!' Benjamin said on camera as he showed off the Billionaire Mini Ashoka watch, which is covered in diamonds around the bracelet and bezel. Only 18 were ever made. Advertisement In 2006, Arabo was charged with helping two drug lords launder some of their $270 million in dirty drug profits by selling them jewelry. In 2008, Arabo pleaded guilty to lying to prosecutors and the money laundering charges were dropped in exchange, according to reports. 5 The main bedroom fills with light through floor-to-ceiling exposures. Douglas Elliman Development Marketing 5 A luxe spa bath retreat. Douglas Elliman Development Marketing His son's new 2,051-square-foot apartment comes with ceilings that rise nearly 11 feet high. It opens to a formal entry gallery that leads to a corner great room with floor-to-ceiling windows, and then to a chef's kitchen. Advertisement The main bedroom suite comes with a walk-in closet and a spa-like bath with radiant-heated floors. Additional details include custom lighting and motorized Lutron solar shades. The apartment was a sponsor sale, last asking $5.6 million. The brokers involved on the sale side were Douglas Elliman's Shari Rollins, Renee Micheli, Jade Chan and Frances Katzen.
Yahoo
17-02-2025
- Business
- Yahoo
Brew Detroit acquired by Livonia beverage company; operations will move to Marshall
A Livonia-based beverage company specializing in imported craft spirits and manufacturing partnerships with more than 10 brands is beefing up its craft beer portfolio with the recent acquisition of two Michigan breweries. Earlier this month, Livonia's Benchmark Beverage Co.. acquired Brew Detroit, a contract brewery in Corktown. Brew Detroit, noted for its specialized brews such as the Mexican lager Cerveza Delray, shuttered its taproom in late January. Auday Arabo, president and CEO of Benchmark Beverage Co., did not reveal financial details of the sale but said the company purchased Brew Detroit's assets and equipment. At the end of 2024, Arabo told the Free Press, Benchmark also acquired Marshall's Roak Brewing Co., which produces Dark Horse beer. Chuck Mascari Jr., who co-owned Roak Brewing Co., is now with Benchmark, Arabo said. In 2019, Roak Brewing Co., then based in Royal Oak, acquired Marshall-based Dark Horse Brewing, moving its operations to Marshall. Benchmark Beverage will move all of Brew Detroit's operations to Marshall. 'We're keeping it Michigan, so that's the most important part, I think,' Arabo said. 'Brew Detroit, Great America, Roak, and Dark Horse will all be produced in Marshall. It's nice go-between, between Detroit and Chicago.' Also with Benchmark is Thom Lipari, the recently retired CEO of Warren-based Lipari Foods. Ahead of buying the Brew Detroit brand and assets, Benchmark Beverage, purchased its Great America brand. Great America was only operating in Pennsylvania, but plans are to bring the line of flavored malt beverages to Michigan, Arabo said. These recent acquisitions and brands make Benchmark Beverage Co., a leader in Michigan's locally owned craft beer market, Arabo said. 'While everybody's consolidating and getting smaller … we're trying to grow and purchase brands and build brands,' he said. In recent years, multinational companies have acquired stakes or bought several Michigan craft brewers. That list includes Founders Brewing Co. selling a 90% majority stake to Spanish company Mahou San Miguel in 2019, Molson Coors bought Detroit's Atwater Brewery in 2020 and Short's Brewing Co. in Elk Rapids selling a 20% stake to Heineken in 2017. 'We've been told we're, you know, maybe the number four, number five brewing facility in the state of Michigan,' Arabo said. 'Whatever people decide we're proud that we're still family-owned in Michigan, Michigan made and want to continue to grow that.' Benchmark Beverage, Arabo said, plans to continue five of Brew Detroit brands, including its signature Cerveza Delray, Yum Town, Campin', and Cloud 19. Its Cerveza Delray Oscura, a dark Mexican-style lager, Arabo said, will now be called Negra Cerveza Delray. 'We're trying to grow and purchase brands and build brands,' Arabo said. 'And, you know, Michigan's our home, so everything's going to be made in Michigan and exported to other states and hopefully other countries.' Contact Detroit Free Press food and restaurant writer Susan Selasky and send food and restaurant news and tips to: sselasky@ Follow @SusanMariecooks on Twitter. Subscribe to the Free Press. This article originally appeared on Detroit Free Press: Brew Detroit acquired by Livonia's Benchmark Beverage Co.
