New York penthouse fetches US$88 million record-setting price

The highest-ever residential sale in New York City closed last week for US$88 million. It was the penthouse apartment at 15 Central Park West, which sold at full asking price.

Ideally situated in the heart of Manhattan, the four-bedroom residence features views of Central Park, a wraparound terrace, an oval bedroom and a study panelled in Brazilian rosewood.

It’s been reported it was sold by a retired American banker to the family of a Russian billionaire – from Sanford I. Weill, the former head of Citigroup Inc., to a trust for Ekatarina Rybolovleva, a 22-year-old college student and daughter of Dmitry Rybolovlev, a Russian now based in Monaco who made a fortune in potash fertilizer.

The previous record residential sale in Manhattan was the 2006 purchase of a townhouse on East 75th Street by J. Christopher Flowers, a private-equity investor. The largest condo deal was the $51.5 million purchase of a series of apartments at the Plaza Hotel by developer Harry Macklowe in 2007.

Brown Harris Stevens represented both sides of the transaction – senior vice president Kyle W. Blackmon represented the seller, while Maria Torresy, also a senior vice president, represented the buyer.