More Rubles Than You Know What To Do With
Buyers are already starting to despair when it comes to finding ultra high-end New York properties, especially after casino king Steve Wynn reportedly snagged the $77.5 million duplex penthouse at the Ritz-Carlton.
And in the future, the market may get even tighter for buying-crazed billionaires, with a new crop of Russians and Ukrainians eager to snap up trophy properties, a new CNBC video warns.
Billionaire Boys Club
Last month, word got out that Igor Krutoy was preparing to buy a $40 million condo at the Plaza Hotel, nearly but not quite a record buy. Yet it almost seemed like he was desperate to make a splash, as he mulled condos over the $50 million mark at buildings such as 15 Central Read More
On Oct. 28, Mikhail Prokhorov, the billionaire owner of the New Jersey Nets, threw a lavish launch party in Chelsea to celebrate the arrival of Snob magazine in New York. The event was complete with foie gras and a performance by jazz songstress Cassandra Wilson. Some have criticized Prokhorov for bringing a Russian-language Read More
In a story called “Painting the Town Red,” the New York Post has caught on to the Russian money that has infiltrated the city:
“Welcome to the New Russian Wave. According to night-life insiders, a surge of rich Muscovites has arrived in New York City, and they’re taking over where the beleaguered Read More
The Russian spies may be leaving us soon. According to the New York Times, the ten agents, who, by the way, sucked at spying, may plead to lesser charges and get deported back to Russia.
Of the ten agents in custody–one is still at large in Cyprus somewhere–none are charged Read More
One young woman accused of being a Russian spy in criminal complaints filed Monday, June 28, was Anna Chapman, a beautiful 28-year-old who allegedly founded an online real estate company and had an apartment in the Financial District.
Ms. Chapman, according to the documents filed in Federal District Court in Manhattan, “unlawfully, willfully and knowingly, Read More
In Boston last night, Russian billionaire Mikhail Prokhorov and his newly hired coach of the Nets, Avery Johnson, walked into Game 5 of the Finals between the Celtics and the Lakers together, and took a pair of baseline seats.
Just a few hours prior, the two men met for the first time in Mr. Prokhrov’s Read More
Last month Irina Aleksander scoped out the scene at Mari Vanna, restaurant of choice for New York’s fashionable Russians. But while she noted that the place had the potential to be “the Babbo of Eastern Europe,” the focus wasn’t on the menu.
This week The New Yorker picks up Read More
From the Wall Street Journal this morning:
In New York City, foreign buyers now make up about 15% of the market, with Russians the largest contingent, says Hall Willkie, president of real-estate firm Brown Harris Stevens. "A few years ago we didn’t see any Russians," Mr. Willkie says. "But now, especially at the Read More