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March 2, 2012 > NYC apartment sells for $88 million

NYC apartment sells for $88 million

Submitted By AP Wire Service

NEW YORK (AP), Feb 16 - The family of a Russian billionaire has bought a New York City penthouse apartment for $88 million.

The Wall Street Journal (http://on.wsj.com/x3NGXe) says the property on Central Park West in Manhattan is now the most expensive apartment in New York.

The seller was Sanford I. Weill, the former head of Citigroup Inc. It was bought by a trust for the daughter of Dmitry Rybolovlev (dih-MEE'-tree rih-bah-LOHV'-lehv).

Features of the apartment include a wraparound terrace.

The Journal says the sale generated nearly $2.5 million in city and state taxes.

The brokers' commission: about $3.5 million.

The deal closed on Wednesday.

Weill previously said he plans to donate the proceeds of the sale to charity.

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Information from: The Wall Street Journal, http://www.wsj.com

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