The Real Deal New York

Park Ave apartment owned by the former Yugoslavia finally sold

The dissolved union is selling off its properties in a global fire sale
June 10, 2018 08:20PM

(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