Billlionaire May Set NY Apartment Record

by Deidre Woollard (RSS feed)
Nov 9th 2007 at 12:02PM

Real estate mogul Leonard Blavatnik just can't seem to get enough of New York real estate. He's already spent $50 million for the Bronfman townhouse this summer, and also bought a $27 million apartment in the city but now he may set a real estate record. The billionaire has signed a letter of intent to buy five co-op apartments at The Mark hotel. Braden Keil of the NY Post reports that Blavatnik has offered $125 million, although the developers want $150 million. Contracts can't be signed yet because prices of the units have not yet been approved by the state Attorney General's Office. Another NY real estate watcher, Max Abelson of the NY Observer reports that it is far from a done deal.

The hotel, which is located at 25 E. 77th St., between Madison and Fifth avenues, is currently being renovated. The space for sale is nearly 30,000 square feet on the top three floors of the building. The apartments also come with 3,900 of outdoor space including a rooftop terrace with a fireplace. If they were sold separately the apartments would have a total of 23 bedrooms. As with most hotel properties, this one comes with hotel-style amenities such as maid and room services. Blavatnik is worth around $7.2 billion according to Forbes .

Tags: len blavatnik, leonard blavatnik, LeonardBlavatnik, mark hotel, new york