$88 million New York apartment

New York penthouse sold for record $88 million

Homes

A New York penthouse with panoramic views of the city’s famous Central Park has become the most expensive apartment ever sold in the city after being sold for a staggering $88 million.

The wealthy buyer was Russian fertiliser magnate Dmitry Rybolovlev who is said to be the world’s 93rd richest man, according to the BBC.

He reportedly bought the Central Park West apartment for his 22-year-old daughter, Ekaterina Rybolovleva.

The 6,744 square foot (627 square metre) apartment was sold by American Sanford Weill, a former head of banking giant Citigroup.

The penthouse stands at the very top of 15 Central Park West, a landmark building designed by architect Robert Stern.

It boasts a custom-made oval bedroom, a library, gallery, chef’s kitchen and a 2,100 square foot (195 square metre) terrace running along three sides of the building.

Sold by high-end New York real estate agents Brown Harris Stevens, the apartment is expected to earn the agency a commission of $3.5 million, the Wall Street Journal reported.

However, despite its astonishing price, the lavish New York apartment is apparently not the most expensive US property in Mr Rybolovlev’s portfolio. He is said to have paid closer to $100 million for an investment property in Palm Beach, Florida in 2011.

The sale – which was concluded at the full asking price – is the latest example of foreign buyers setting the pace in New York’s elite property market.

Privately owned apartments, known as condominiums in the US, are increasingly being snapped up by wealthy overseas buyers, a spokeswoman for Brown Harris Stevens told the BBC.

“What’s slowing down in New York is the middle of the market, but the high and low end are doing very well,” she said.

Check out the $88 million New York penthouse in the video below:

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Lana Galea View Comments

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