Friday, December 23, 2011

Prices And Values

My wife Elena heard a news report this week on Russian TV about the most expensive apartment in the USA.

I then read about it in the Wall Street Journal:

The latest trophy example came this week, when a Russian billionaire, Dmitry Rybolovlev, issued a statement saying his 22-year-old daughter, Ekaterina, a student, was in contract to buy one of the best-known apartments in New York: the sprawling penthouse with a wrap-around terrace at 15 Central Park West.

The apartment was owned by Sanford I. Weill, the former chairman and chief executive of Citigroup Inc., who said he would donate the proceeds to charity.

Mr. Weill decided to list the 6,744-square-foot penthouse on the 20th floor at $88 million last month, a breathtaking price for the New York market, where the previous high sale had been a $53 million townhouse sale back in 2006.

But within a few weeks, brokers at Brown Harris Stevens abruptly called off showings of the apartment, signaling that a buyer had made a high offer.

The contract price, according to a person familiar with the transaction, was the full asking price of $88 million...

What I really liked was the final comment of the Russian newsreader , a lady in her forties. She said that she didn't know what to envy the daughter for, the 88 million dollars , or for being 22.....

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