Russian billionaire tops NY real estate market
Mr Rybolovlev is the 93rd richest person in the world with a net worth around $9.5 billion, according to the Forbes magazine. In 2010 he gained control of Bank of Cyprus. Now Mr Rybolovlev is in the midst of bitter divorce that could cost him $6 billion. Super-rich Russians have become steady buyers of luxury real estate in USA. This year Russian composer Igor Crutoy set a record for a condominium in New York as he bought a flat at the Plaza Hotel for $48 million. Yuri Milner, founder of Moscow-based DST, which invests in Internet companies including Facebook Inc., Twitter Inc. and Groupon Inc., paid $100 million for a 2,370-square-meter mansion in Los Altos Hills, California. Owner of Russian Standard Bank and Russian Standard Vodka, Roustam Tariko has closed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate in April 2011. Russian billionaires Roman Abramovich, Oleg Baikov and Vladislav Doronin also own pricey homes in the USA. Sales of residences to foreigners for over $20 million in popular business and vacation destinations is growing, according to real estate brokers who cater to luxury buyers. But the precise number of foreign deals involving luxury properties in America is difficult to calculate because many buyers us proxys in their purchases.