Ukrainian-born American billionaire Len Blavatnik, who is vying to break New York City’s co-op record with an $80 million purchase, has made it through the board’s rigorous approval process.
Blavatnik, who is worth an estimated $18.3 billion, and his wife Emily purchased the unit at 834 Fifth Avenue from Jets owner Woody Johnson in October for $80 million, which was $5 million over the asking price, the New York Post reported.
The duplex spans the 11th and 12th floors of the 16-story Rosario Candela-designed Art Deco building.
Prior to Blavatnik’s purchase, the city’s co-op record was broken twice in 2014 — first by Egyption billionaire Nassef Sawiris with a $70 million buy, then by hedge fund manager Israel Englander with a $71.3 million purchase.
In the third quarter of 2014, the median price for a co-op was $737,500, less than 10 percent of Blavatnik’s record. [NYP]