Russian Financier Sold His Duplex Penthouse At 768 Fifth Avenue In Manhattan For $8,4M

October 21, 2009
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Russian financier Andrei Vavilov sells duplex penthouse in the Plaza in Manhattan for $8.4M, closing the book on his misadventures in high-end New York City real estate

Andre Vavilov, a Russian financier, was reported last year to make a $53,500,000 deal for duplex and triplex penthouse units at 768 Fifth Avenue in Manhattan but then backed out for several reasons. He also looked for ways to get back his $10,700,000 deposit and up to $20,000,000 in damages even after signing a contract.

Andre Vavilov filed a 55 page complaint but has ended up in a negotiation with the developer. Vavilov agreed on closing the purchase for the duplex penthouse unit through his Hayling Island Inc. company where he paid for as much as $11,076,450 on January 27, 2009. He eventually listed the unit in February for $12,500,000 which he lowered to $9,950,000 before selling it in June 18 for $8,400,000.

This penthouse unit 2011 measures about 2,906 square feet and features three bedrooms, grand gallery, five and a half bathrooms, living room, formal dining room, library/bedroom with bathroom, great room with skylights and fireplace, and grand staircase.

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