No, the image isn’t a mall in Los Angeles. It’s of a townhouse that yet another “anonymous Russian billionaire” has purchased for 2.5 million rubles, which equates to just about $99 million (let’s assume a “western” style analysis: $99M – 20% = $19.8M and a mortgage of 79.2M at 6% gives a monthly payment of $474,844.02). And this is before the usual overhead on such a place.
No matter what the payments (probably cash anyway) the price sets a new record for Moscow. The realtor on the deal said only that the buyer is an “active businessman” who is about 40 years old but not very well known. The 14,000-square-foot, seven-story home has five bedrooms, five full baths and three half-baths, along with an indoor swimming pool and rooftop winter garden. It’s located in the ritzy development of Christie Prudy, which means “Clear Ponds.” Chistiye Prudy is a ritzy residential/boutique shopping area in the centre of Moscow. It isn’t a complex, it’s a whole district. Until they cleaned it up a couple of centuries ago it used to be called the Dirty Ponds. These days, it’s very much the blingski-blingski with a slight boho twist-kind of like Holland Park in London or the West Village in the Big Apple. The development, which is within walking distance of the Kremlin, also features private security, a central water purification system, gyms, and an entire floor devoted to any and all children along for the petrodollar ride. As a side note, Russian realtors say the $99 million record price is likely to be broken soon.