Tito’s property in Manhattan sold for $12.1m

By
Marija Nikolovska
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2

The Serbian foreign ministry says a six bedroom, four bathroom duplex apartment at 730 Park Ave in New York will be sold for $12.1 million and split among the former Yugoslav republics.

The apartment, once used by Yugoslav ambassadors as well as former communist strongman Josip Broz Tito on his trips to New York, has been empty since 1992 — a symbol of the collateral damage from the bitter fighting among the successor states — Serbia, Croatia, Macedonia, Bosnia, Slovenia and Montenegro.

The Yugoslav government purchased the residence in 1975 for $100,000.

For decades, Serbia has been paying the maintenance costs on the dust-filled, 2,325-square foot residence, thus will get nearly 40 percent of the price offered by an unknown bidder.

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  • jj

    “For decades, Serbia has been paying the maintenance costs on the dust-filled, 2,325-square foot residence, thus will get nearly 40 percent of the price offered by an unknown bidder.”

    I think Serbia should get more than 40% if it was paying maintenance costs for decades, and I guess this would be property taxes too.

  • Goran Stavreski

    I think Serbia didn’t have to pay the maintenance costs, but they didn’t want to give up the apartment to the other Republics. Since there were 6 republics, Serbia getting 40% sounds about right, because the others will get 12% each.