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A blog from CityRealty (Links below will take you to the 6sqft site)

Carter's View

A Russian composer has just closed on a $48 million home at the Plaza - the highest price ever paid for a single condo unit in New York, according to an article in today's New York Post by Jennifer Gould Keil.

The article said that the buyer is Igor Krutoy and his wife Olga and that the 6,000-square-foot apartment is on the 12th floor.

Sources told the Post that "Krutoy was willing to shell out the big bucks because he was tired of losing out. Krutoy had previously lost other apartments he was interested in buying at fancy 15 Central Park West and the Time Warner Center by bidding too low."

A February 12, 2011 article in The Wall Street Journal by Craig Karmin and Josh Barbanel had said that Mr. Krutoy was "a popular Russian composer and media mogul."

"Mr. Krutoy has recorded more than 100 songs in Russia and has collaborated with many music stars from that country, selling millions of albums world-wide. Last March, he played at Radio City Music Hall with opera star Dmitri Hvorostovsky," the article said.

The Krutoys' apartment search took them on a tour of the toniest addresses in the city, the article continued, "including some units that weren't even officially listed for sale. They made an offer on a duplex with a large terrace just below former Citigroup chief Sandy Weill's apartment at 15 Central Park West, brokers said. They also made an offer on two units on the 35th floor of 15 Central Park West with an asking price of $55 million. One of those apartments is being rented to Yankee slugger Alex Rodriguez for $30,000 a month."

"The purchase at the Plaza isn't the Krutoys' first venture in New York real estate," the article said, adding that "in 2003, they purchased half of the 28th floor at the Chatham, a 34-story condominium tower on East 65th Street for $6.1 million. Three years later they paid $7.4 million for the larger apartment next door, but never physically combined them. In April 2009, they put both apartments on the market together for just under $20 million. In June, they sold the larger apartment for $7 million, taking a loss on the deal. That apartment was listed by Lisa Simonsen of Prudential Douglas Elliman, the same broker who negotiated the deal at the Plaza, brokers said."
Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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