Lawfuel.com – The most expensive apartment in Manhattan was bought for Ekaterina Rybolovleva, according to noted real estate attorney Stuart Saft who was reported as saing that the equestrian’s father would doubtless be staying at the $88 million apartment bought by her billionaire father.
Even if the apartment was bought in Ms. Rybolovleva’s name the earnings she made from her equestrian career fall well short of the multimillions required to settle the Manhattan purchase. She would,on reports, be short by almost the entire purchase price.
However legal issues are present in the matter given that Ms Rybolovleva’s father’s expensive divorce which saw her seeking $6 billion.
“It gets the money out of his estate involved in his fight with his wife,” Mr. Saft agreed. Yet he thought it was more likely that the gambit was related to income taxes.
“I think its related to taxes,” he said. “I think it is his daughters apartment that he will be staying at when he’s in New York. And he’s concerned about New York income tax liability. It’s a real problem in a high tax city, in a high tax state,” he said.