Russian oligarch’s record $75M co-op buy in peril

Roman Abramovich and 828 Fifth Avenue
Roman Abramovich and 828 Fifth Avenue

Russian billionaire Roman Abramovich’s move to Buy A Fifth Avenue mansion owned by the estate of  the late real estate mogul Howard Ronson for $75 million is in jeopardy, because Ronson’s widow  believes she can squeeze even more cash out of the oligarch.

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Abramovich, who is the owner of the Chelsea Football Club, agreed in October to buy the 828 Fifth Avenue home for $75 million, and were the deal for the 22-room property to close at that price, it would dwarf the $54 million David Geffen paid for 785 Fifth Avenue, which is currently the record sale price for a co-op in the city.

But sources close to Ronson’s widow Angelika Ivanc told the New York Post that Abramovich was willing to pay even more for the mansion before trustees for Ronson’s estate accepted the offer. Ivanc is now looking to challenge the executors’ approval of the co-op sale in court in the English Channel island of Guernsey, according to the newspaper. [NYP]  – Hiten Samtani