So your Russian dad bought you an $88 million penthouse

Imagine being a 22 year old and owning a four-bedroom penthouse at 15 Central Park West in New York City worth $88 million. Sounds like a dream? Well, for Ekaterina Rybolovlev this a reality. Ekaterina is the eldest daughter of Dmitry Rybolovlev a VERY successful Russian businessman. When he bought his daughter the penthouse (with cash) in February of this year it broke a record price for the most ever paid for an apartment in New York City.


And according to The New York Times this trend of Russians buying real estates in the U.S. is just warming up. The New York Times said that while the real estate market may still be slumping the high end is enjoying a remarkable updraft. They mentioned that developing countries like Brazil, China, and India are propelling money in the real estate market, but no group is writing bigger checks than the Russians.


It is amazing the amount of billionaires coming out of Russia. According, to Forbes the amount of billionaires in Russia has tripled!


How are they making their money?


Many of these Russian billionaires are getting flushed with cash from the privatization of Russian state industries and high prices on oil and other commodities. They are also being very smart because they are investing their fortunes outside the reach of  Vladimir V. Putin government.

wealthy Russian Vladislav Doronin and girlfriend Naomi Campbell

So what are Russians looking for when house hunting and how do we get in on this? Is probably the question real estate brokers and lawyers are pondering in order to get their business. Well, apparently many of these ambitious people headed into an Off Broadway theatre in Manhattan last month not for arts, but in order to roll in the Russian clientele. 


In the end whether they are just scared of Putin's government or trying to make names for themselves the Russian presence in the real estate market is looking pretty well if i say so myself. So get ready to sip some wine and nimble on cheese while attending events, preferably in New York City, if you want to get in on this yourself. Let the rubbing elbows with Russian billionaires begin!