Record $88 Million Sale for NYC Condo

Russian billionaire Dmitriy Rybolovlev is reportedly paying the full asking price of $88 million for a New York City condo for his 22-year-old daughter, considered the highest individual transaction ever recorded in New York City, according to Forbes.

The 6,744-square-foot apartment was owned by Sandy Weill, the former Citigroup chairman.

“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,” Jonathan Miller, chief executive of real estate appraiser Miller Samuel, told Forbes.com. “What is ironic is that when Sandy Weill bought it for less than half this amount, he paid the highest price per square foot to date in that building, around, $6,400 per square foot. He is again setting a record.”

The Manhattan condo features 10 rooms, including four bedrooms and more than a 2,000-square-foot wraparound terrace. Rybolovlev’s daughter plans to use the apartment when attending the college in the United States. 

The previous sales record in New York City was $53 million for a townhouse, set before the housing crisis.

Source: “Billionaire’s Daughter Pays Record Sum for NYC Pad,” Forbes.com (Dec. 19, 2011)

 

About Ady Simion (Realtor and Public Notary)

Ady Simion was named in the Top 1% of all agents for NRT LLC a subsidiary of Realogy that operates a variety of real estate offices under brands such as Coldwell Banker, Sotheby's International Realty, Century 21, The Corcoran Group, and the technology-based brokerages ZipRealty and Climb Real Estate. NRT has 787 offices and 47,000 sales associates. Selling and buying property can be very stressful but with the right agent it can be profitable and a fun experience. Ady is also a Notary Public and being a people person he wants to help negotiate for his clients making their transactions as smooth as possible. Ady’s goals are simple: He wants to be the best source of information on the Los Angeles area Real Estate market, as he assists clients through each transaction with care and professionalism. He is proud of his large referral base of clients who have placed their trust in him over the years. Why him, when there are so many good people out there?!?! • Sellers will have their property exposed to the largest team of sales professionals in the world by far. Coldwell Banker Agents sale more homes than anyone else. • Buyers will have the opportunity to view more properties exclusively. • And most importantly when you hire him you get a whole team working for you not just “only one person”. Ady Simion started his Professional Career as an Insurance Agent, and then mastered the Mortgage Industry focusing on helping buyers and sellers achieve their life dreams. He now is an Agent with the Largest Residential Real Estate Company in the nation and the world, Coldwell Banker, at the Pasadena office which is the leader in the areas in which he specializes. After finishing College Ady has consistently been a Top Producer in every office/business he worked at. He speaks English, Romanian and Spanish. Real Estate is constantly changing and working with an agent that has been involved in the Real Estate buying/selling process most of his life is always beneficial for clients. Call, text or e-mail him or just stop by to say Hi and ask any real estate questions you may have.

Posted on December 21, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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