Russian billionaire Roman Abramovich is reportedly buying a big chunk of a gorgeous Fifth Avenue mansion, and is on his way to owning the entire building.
Abramovich is in contract to buy three of the five apartments in the building at 828 Fifth Avenue from the family of late British real estate developer Howard Ronson for $75 million, reports Jennifer Gould Keil at The New York Post.
If the deal closes at that price, it would soar past the current $54 million record for a co-op in the city, according to The Real Deal.
He's also reportedly in talks with other owners in the building to buy out their co-ops as well, and wants to restore the mansion to its former glory, reports Julie Strickland at the New York Observer.
The late owner Ronson dreamed of buying up all of the building's apartments to recreate the single-family mansion that once stood there. He passed away in 2007, and his family put his holdings in the building on the market for $72 million, which included the penthouse, a triplex, and a duplex apartment.
The eight-bedroom co-op is an interesting mix of classic and modern with tall ceilings and eight bedrooms. There's even a rooftop terrace that looks out over Central Park.
The Manhattan townhouse sits directly across from Central Park Zoo.
It's currently divided up into five units. Abramovich is in contract to buy three.
He's hoping to buy the other two and create a single-family mansion.
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