Russian billionaires shed luxe Plaza condo for 45% off

A pair of Russian billionaires facing foreclosure added their 5,000-square-foot spread at the Plaza Hotel to their selloff spree. 

A holding company linked to Valery and Olga Kogan sold Unit 1007/1009 at 1 Central Park South, or 768 Fifth Avenue, to an anonymous buyer for $21 million, according to property records. That’s about 45 percent off the $38 million the couple had previously sought for the home.

The property last asked $23 million when the New York Post reported in March it snagged a signed contract. 

Compass’ Charlie Attias, Brooke Winsness and Connor Ramage represented the Kogans. Attias did not immediately respond to a request for comment.

Co-owner of Moscow’s Domodedovo Airport, Valery Kogan was estimated about a decade ago to have a net worth of about $2.5 billion. He and his wife bought the units, which also included 1008, in 2007 and 2008 for just under $29 million. The combined condominium has five bedrooms and 12-foot-high ceilings. Photos show an opulent interior, with inlaid floors, ornate chandeliers and gilded walls reminiscent of Versailles. 

The Kogans also in March shed a 40th-floor penthouse at 15 Central Park West for $33.9 million, the New York Post first reported. They purchased the unit — also decked out in a lot of gold and wood detailing — for $22.7 million in 2008.

The Kogans had been facing foreclosure on both properties. Rok Lending, based in Miami, provided a $37.8 million loan to the Kogans’ holding company, which owns the properties at both locations, in 2021. Then Rok Lending filed the U.C.C. foreclosure claiming that the borrower defaulted on $4.2 million in payments.

In 2023, they had listed the units for sale for $100 million total, the Post reported.

The Kogans also listed a 75,000-square-foot mansion in Caesarea, Israel for sale in 2020 for $259 million. In 2024, they sold a Tel Aviv penthouse for $33 million — which was the priciest deal in the country when Kogan bought it in 2009.