Faruk Yalçın heirs agree to sell historic Bosphorus mansion

The heirs of late Turkish billionaire Faruk Yalçın have reached an agreement to sell the Faruk Yalçın Mansion located in Kanlıca. The five siblings—Osman, Hatice, Ayşe, İsmail, and Süreyya Yalçın—reportedly decided to list the historic property through a real estate company after initial attempts to find direct buyers were unsuccessful.

The asking price for the mansion has reportedly been reduced from $70 million to $55 million. Faruk Yalçın, known as a ‘NATO contractor’ and founder of the Makyal Group, left behind an estate valued at approximately $4 billion upon his death in 2008. While the family previously reached a settlement regarding cash assets in Switzerland, the sale of this Bosphorus waterfront property marks a significant step in managing the inheritance.

The mansion has a deep historical lineage, previously serving as the site of a seaside palace for Cemile Sultan before being rebuilt in the early 20th century. It was later owned by Hacı Şefik Bey, a prominent merchant and politician.