New York City's Jacob "The Jeweler" Arabo is back in the news this week, but not for anything you'd logically conclude all things considered.

No, it's not anything related to his 2006 arrest, his 2008 sentencing for conspiracy to distribute cocaine, his money laundering of nearly $270 million, his lying to investigators, or his connection to the Detroit gang, the "Black Mafia."

Still don't know who we're talking about?

 He's the jeweler that blinged out celebrities like 50 Cent, Jay Z, Nas, Elton John, Kanye West, Gisele Bundchen and (funnily enough) Rudy Giuliani prior to his conviction and jail sentence of almost two years. 

Instead of garnering publicity for his connection to mobs, this time Jacob "The Jeweler" Arabo is making headlines because of his recent purchase of a $16.675 apartment at 432 Park Avenue, complete with two bedrooms, three-and-a-half bathrooms, and a private elevator landing.

As reported by Luxury Listings NYC, the 3,576 square-foot condo is part of a larger, 96 story building with amenities like a 75-foot indoor swimming pool, a spa, massage rooms, a screening/performance space, and outdoor gardens. 

His new pad is most certainly a step up from jail-life, unless we're talking about jail-life at Lincoln Correctional, with views of Central Park. 


Regardless, a man who was once convicted of lying to investigators (the money laundering charges were dropped in a plea deal) who had connections to the "Black Mafia" could purchase a $17 million apartment while we're struggling to make rent for a shoebox working a decent job...


Actually, scratch that. It makes perfect sense. Especially when you consider virtually nobody who's anybody is actually buying an apartment at 432 Park

Check out 432 Park Ave Has Only Sold 13 Apartments... for $170 MM in Sales.

[via The Real Deal] [Feature Image Courtesy]