Latest posts by Gea Elika (see all)
- Buying Property in NYC as a Foreigner - July 14, 2018
- Fiduciary Duties by Your Condo or Co-op Board - July 9, 2018
- Top Questions for Buyers to Ask When Viewing an Apartment - July 7, 2018
As the dollar continues to fare poorly, it’s no secret that foreign buyers are making up a larger and larger portion of demand in New York City’s Real Estate market.
This is especially true in the luxury market, which has seen a huge influx of capital from some of the world’s most wealthy and powerful high rollers. In this respect, the city’s market has benefited from its international reputation as both a center of commerce and a center of glitz and glam.
Of particular prominence lately has been the Russian industry moguls that have been scooping up some of the city’s most prominent real estate. Indeed, according to Forbes, Moscow has recently passed New York City as the city with the highest concentration of billionaires per square mile. Billionaires, of course, usually own homes in most major cities, or at least their favorite ones, so it’s little surprise that so many have chosen to purchase new homes in New York City.
Other American cities have also seen a similar pattern. Palm Beach, in particular, has seen perhaps the single most prominent purchase by a Russian oligarch: Dmitry Rybolovlev – the world’s 59th richest man – recently purchased Donal Trump’s old Maison de l’Amitié for $100 million.
Here are some of the most prominent examples of this new Russian invasion:
Leonard Blavatnik is a Russian magnate in several industries, including coal and plastics. He owns a townhouse on East 64th Street that cost him $51 million. That’s just his second most expensive home, though. He owns one in London that’s worth $73 million.
Lev Leviev, a good buddy of Vladimir Putin, Leviev a native of Uzbekistan. His company, Africa-Israel Investments, owns the Metlife clock tower, the old New York Times building, and a particularly fancy
diamond boutique on 47th and 5th. One of his homes has a $100,000 bullet proof glass door.
Boris Berezovsky is a particularly sketchy character. One report details one of his most famous exploits: He “sued Forbes after its Moscow bureau chief, Paul Klebnikov, tied him to to the assassination of prominent television journalist Vladislav Listyev. The case was settled, although Paul Klebnikov was also later assassinated.” He owns a pied-a-terre at the Trump Tower.
Vladimir Stolyarenko is the CEO of a major Russian bank and stays at the Plaza when he’s in NYC.
Perhaps most well known in New York circles is Roustam Tariko, who spent $3 million on a single party to introduce his new Vodka, Russian Standard, to New Yorkers. He’s worth $3.5 billion.