One57 (Courtesy of Extell Development)

A Tale of Two Sales

We’re only three months into 2012, but the year has already proved rich with real estate surprises. Of note thus far, Dmitry Rybolovlev’s record breaking purchase at 15 Central Park West and Robert Bass’ $42 million fixer-upper.

Although the news broke last year, Manhattan’s most expensive residential deal finally closed in early February. A trust in the name of Russian businessman Dmitry Rybolovlev’s daughter, 22-year-old Ekaterina, purchased Sandy Weill’s former home at 15 Central Park West for $88 million. Mr. Rybolovlev, a Russian fertilizer kingpin, and his daughter had been seen touring the apartment months before the news broke. Ms. Rybolovleva is an avid equestrienne, and competes in shows across the world on her prized jumpers.

Meanwhile, Robert M. Bass was behind a substantial, but significantly smaller sale, in one of New York’s most pedigreed buildings.
After Damon Mezzacappa’s wife, Liz, passed away, he quietly put his 12th floor abode on the market for, several sources claimed, $34 million. Mezzacappa, the former vice chairman of Lazard, sold the place “lock stock and barrel,” one broker said, with all the furniture and carefully curated design pieces included with the sale. “I think he left with his toothbrush,” the broker said. The house alone was not sold, but rather the home. Mezzacappa listed a Palm Beach address as his current residence on the property deed.

When the sale was finalized, jaws dropped when it was revealed that Robert and Anne T. Bass had ended up paying a full $42 million for the apartment, $8 million above the reported asking price. Additionally, the space will require extensive renovation, a source shared.

With these two mammoth sales already on the books, we can expect 2012 to be a very interesting year indeed.