Park Ave apartment owned by the former Yugoslavia finally sold

The dissolved union is selling off its properties in a global fire sale

New York Weekend Edition /
Jun.June 10, 2018 08:20 PM

(Credit from back: Phillip Capper, Digital Library of Slovenia)

As part of a global fire sale for a country that no longer exists, a Park Avenue penthouse was recently sold for $12.1 million in an all-cash deal.

The luxurious apartment belonged to the former Yugoslavia, which consisted of countries now known as Slovenia, Croatia, Bosnia-Herzegovina, Serbia and Macedonia. The union broke up in 1992 as nationalist movements broke out throughout the previously unified state and brutal conflict erupted, as the BBC reported.

Now, over 20 years later, properties that were originally bought for the former Yugoslavia’s first president, Josip Broz Tito, and his government are finally being sold, according to the New York Post.

The sale of the 4,500-square-foot property on Park to an unnamed buyer closed last month. The unit has three terraces and was originally listed for $18 million, but the price was ultimately slashed by about $6 million. The penthouse has been empty since 1992 when Yugoslavia broke up and the last ambassador vacated, according to Douglas Elliman’s Tristan Harper, who handled the listing.

Harper told the Post representatives from Slovenia, Croatia, Bosnia-Herzegovina, Serbia and Macedonia were present to sign off on the deal. [NYP] Erin Hudson


Related Articles

arrow_forward_ios
New York City District Council of Carpenters’s Monitor Glen McGorty (iStock; LinkedIn)

NYC carpenters union changes how it roots out mob ties

NYC carpenters union changes how it roots out mob ties
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
(iStock)

Mortgage requests surge ahead of Thanksgiving

Mortgage requests surge ahead of Thanksgiving
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
Hippo founders Assaf Wand and Eyal Navon (LinkedIn)

Home insurance startup Hippo raises $350M

Home insurance startup Hippo raises $350M
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
Assemblymember Marcela Mitaynes  and Sen. Charles Schumer (Photos via Protect Sunset Park; Getty; Facebook)

With NY poised to lose billions, socialists fight real estate

With NY poised to lose billions, socialists fight real estate
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...