The Real Deal New York

Carlton CEO and oil tycoon buy at the Stanhope

April 23, 2008 04:00PM
By Adam Pincus

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Carlton Group chairman and CEO Howard Michaels and former Russian oil tycoon Leonid Nevzlin both purchased co-op apartments at 995 Fifth Avenue, also known as the Stanhope, according to property records posted online today.

Michaels and his wife Jennifer closed on their $10.96 million purchase of a third-floor unit on April 4, the records showed.

Michaels founded the international real estate investment banking firm Carlton Group in 1991. The company closed more than $7 billion in transactions in 2007.

Nevzlin paid $12.76 for his 10th-floor unit, and the deal closed on April 9. He has been listed as one of the world’s richest men by Forbes, at one point having a fortune of more than $2 billion amassed through investments in the Russian energy company Yukos Oil. The company was since dissolved in bankruptcy proceedings.

Nevzlin fled to Israel in 2003 after Russian authorities charged him with various crimes, which has been viewed by some observers as part of a campaign by former Russian president and now prime minister Vladimir Putin to reduce the power of any potential rivals.

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