Last month, former Citigroup chairman Sandy Weill listed his 6,744-square-foot apartment in New York City for a stunning $88 million, along with a pledge to donate the proceeds of the sale to charity.
Now it looks like he’s found a buyer. Ekaterina Rybolovleva, the 22-year-old daughter of Russian billionaire Dmitriy Rybolovlev, is buying the condo. Rybolovleva is attending college at an undisclosed American university and plans to stay in the apartment when visiting New York.
She apparently paid the full asking price of $88 million, setting a new record for the highest individual transaction in the history of New York City.
The apartment is located at 15 Central Park West.
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.
The apartment boasts 10 rooms, including 4 bedrooms, a wraparound 2,000-square-foot terrace, 4 bedrooms, and 2 wood-burning fireplaces.
“This sale is an outlier. It works out to be about $13,000 per sq. foot, the highest on record, for anything, that has ever occurred,” says Jonathan Miller, chief executive of real estate appraiser Miller Samuel, “What is ironic is that when Sandy Weill bought it for less than half this amount, he paid the highest price per sq foot to date in that building, around, $6,400 per sq. foot. He is again setting a record.”
The previous NYC record had been established back before the real estate market crashed, when investor Christopher Flowers paid $53 million for a townhome located at 4 east 75th Street. In August, he resold that property for a cool $36 million.
Ekaterina Rybolovleva is the second daughter of a billionaire to make real estate headlines this year. In July, heiress Petra Ecclestone, daughter of Formula One billionaire Bernie Ecclestone, paid $85 million for Spelling Manor, the 56,500-square foot mansion that had been owned by Candy Spelling, widow of television producer Aaron Spelling.
Dmitriy Rybolovleva sold most of his ownership in Uralkali, the fertilizer company that made him wealthy, for $6.5 billion last year. He’s already made waves in real estate himself by buying Donald Trump‘s Palm Beach mansion, Maison de L’Amitie, in 2008. He paid $95 million for that property, about $25 million less than what Trump had been asking.
He may not own that property much longer. His wife Elena Rybolovleva, who filed divorce papers in Palm Beach court in 2009, is seeking transfer of ownership of the mansion.
[Image via Observer.com]