Russian financier Andrei Vavilov did probably the most damage of anybody to the property values and reputation of the Plaza Hotel when he was the first tenant to sue the developers. Vavilov, dissatisfied with everything from the window size to the space to the construction, publicly went to war with El-Ad, the company that spent millions renovating the landmark and converting it into condos. He sued, the developers countersued, and then other high-profile tenants followed suit (har). Finally, Vavilov reached a quiet settlement.
But that’s not the end of the story. The Times City Room blog, which has been vigilant in covering this hilarious and colorful story, has learned that Vavilov seems to have bought an apartment in the Plaza after all! One of the two penthouses he had originally agreed to purchase appears to have been purchased by one of Vavilov’s holding companies for $11.1 million dollars. We wonder how awkward those elevator rides are going to be, when Vavilov and his glamorous wife have to share a ride up with all the other penthouse owners whose property values they sabotaged. For those six minutes a day, it’s probably best to pretend they don’t speak English.
Financier Buys Plaza Penthouse After All [City Room/NYT]