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$88 Million Pied-A-Terre: Russian Billionaire Reportedly Bought CPW Pad For 22-Yr-Old Daughter

By

Jen Chung

Published Dec 19, 2011

Modified Dec 19, 2011

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Would you pay $88 million for this?

 

Graphic from the WSJ

By

Jen Chung

Published Dec 19, 2011

Modified Dec 19, 2011

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The lavish 15 Central Park West apartment that former Citigroup chairman Sanford Weill put on the market for $88 million—with proceeds going to charity—was purchased by Russian fertilizer billionaire Dmitry Rybolovlev. And now it seems that the four-bedroom, 6,437-square foot apartment is for his 22-year-old daughter.

According to Forbes, Ekaterina Rybolovleva is that one who bought it:

Rybolovleva is currently studying at an undisclosed U.S. university and plans to stay in the apartment when visiting New York. According to a source familiar with the sale, she paid the full asking price of $88 million setting a record for highest individual transation in New York City history.

Here is the official statement from her representatives: "A company associated with Ekaterina Rybolovleva, daughter of a well-known businessman Dmitriy Rybolovlev, has signed a contract to purchase an apartment at 15 Central Park West, New York. The apartment is a condominium currently owned by the Sanford Weill Family. Ms. Rybolovleva is currently studying at a US university. She plans to stay in the apartment when visiting New York. Ms. Rybolovleva was born in Russia, is a resident of Monaco and has resided in Monaco and Switzerland for the past 15 years.”

Real estate attorney Stuart Saft told the Observer that Dmitry Rybolovlev could have bought the apartment as a divorce-proceeding move, “It gets the money out of his estate involved in his fight with his wife," but suspects, "I think its related to taxes. I think it is his daughter's apartment that he will be staying at when he’s in New York. And he’s concerned about New York income tax liability. It’s a real problem in a high tax city, in a high tax state."

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15 central park west

Dmitry Rybolovlev

ekaterina Rybolovlev

real estate

sanford weill

Jen Chung

Jen Chung is a former WNYC and Gothamist editor.

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Gothamist is funded by sponsors and member donations

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