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
 An industry report says that mortgage lenders and investors are ill-prepared for the growing challenge of climate risk. (iStock)
Mortgage market stakeholders are unprepared for growing climate change threats
Mortgage market stakeholders are unprepared for growing climate change threats
Macklowe Properties CEO Harry Macklowe, CIM Group Co-Founder Richard Ressler and 432 Park Avenue (Getty, CIM)
432 Park Avenue residents sue developers for $125M
432 Park Avenue residents sue developers for $125M
US household real estate values jump by record $1.2T
US household real estate values jump by record $1.2T
US household real estate values jump by record $1.2T
David Bitton, CMO and co-founder of DoorLoop and Ori Tamuz, CEO and co-founder of DoorLoop (Bitton, DoorLoop, Getty)
Startup DoorLoop to take on goliaths in rental management software
Startup DoorLoop to take on goliaths in rental management software
Richard Grossman
Brown Harris Stevens’ NYC president Richard Grossman steps down
Brown Harris Stevens’ NYC president Richard Grossman steps down
The six bedroom Sagaponack house (Out East)
Sagaponack mansion lists for $32M in East End’s supply-constrained market
Sagaponack mansion lists for $32M in East End’s supply-constrained market
Valley National CEO Ira Robbins and Bank Leumi USA CEO Avner Mendelson (Getty, Valley National, Bank Leumi)
Valley National acquiring Bank Leumi USA for $1.1B
Valley National acquiring Bank Leumi USA for $1.1B
The inside of a Queens apartment damaged by Hurricane Ida (Getty)
Queens homeowners demand answers for flooding
Queens homeowners demand answers for flooding
arrow_forward_ios

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

Loading...