The Real Deal New York

Portugal sells Dakota spread for $11.5M

May 13, 2013 01:00PM

Mired in an economic crisis, Portugal is selling off its assets, including an eight-room co-op at the Dakota at 1 West 72nd Street that the country has owned for 40-plus years, according to the New York Post.

John Burger and Guida De Carvalhosa had the listing, while Jason Haber, the founder of Rubicon Property, represented the buyer.

The asking price was $12.95 million, though it was purchased for $250,000 in 1971, the Post said. The Upper West Side apartment, used for formal parties hosted by ambassadors, features three fireplaces and a 12-foot ceiling on the Dakota’s seventh floor.

In March, a three-bedroom unit at the Dakota went into contract, after several price slashes, for $11 million, a far cry from its listing price of $19.5 million. [NYP]Mark Maurer