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yundai Motor Group's CEO Euisun Chung has purchased a three-bedroom condo at 15 Central Park West from Italian cosmetics magnate Piofrancesco Borghetti for $16.5 million. The sale comes after nearly a decade of the property being on and off the market, with Borghetti initially listing it for just under $28 million in 2008.
Borghetti had been trying to sell the unit since 2012, when he was facing charges related to embezzlement from his perfume company Limoni. He was convicted of the crime two years later and subsequently settled a lawsuit with Limoni's new owners for an undisclosed amount.
The condo, which spans 2,800 square feet and features three bathrooms, a chef's kitchen, and views of Central Park, had been listed as a rental priced between $40,000 and $50,000 per month. Chung, who took over as Hyundai's CEO in 2020, paid the asking price for the unit.
The building at 15 Central Park West offers amenities such as a lap pool, private restaurant, fitness center, and terrace, designed by architect Robert A.M. Stern.
