When Joseph Betesh opened an Army-Navy store in the South Bronx in 1975 he probably never imagined he would become a full-fledged hip-hop clothing mogul with 19 branches of his Dr. Jay's store spread across the five boroughs. Now the Sephardic Jewish retailer who made a fortune selling "urban apparel" to 18- to 30- year-olds is moving about as far away from his retail roots as possible.

Mr. Betesh has paid $5.6 million for a 28th-floor condo at 15 Central Park West, city records show.  read more »