R
ussian billionaires Valery and Olga Kogan have sold their 5,000-square-foot Plaza Hotel unit for $21 million, significantly below the original asking price. The holding company linked to the couple sold Unit 1007/1009 at 1 Central Park South (768 Fifth Avenue) to an anonymous buyer, according to property records. This sale represents a nearly 45% discount from the initial $38 million asking price and about 10% off the previous $23 million listing.

    The Kogans had previously sought to sell the combined condominium, which features five bedrooms and 12-foot-high ceilings, for $100 million in total. The property boasts an opulent interior with inlaid floors, ornate chandeliers, and gilded walls reminiscent of Versailles. The unit was purchased by the couple in 2007 and 2008 for just under $29 million.

    This sale comes on the heels of another significant transaction involving the Kogans. In March, they sold a 40th-floor penthouse at 15 Central Park West for $33.9 million. The holding company linked to the couple had been facing foreclosure on both properties after defaulting on a $4.2 million loan from Rok Lending in Miami.

    The Kogans' real estate portfolio has undergone significant changes in recent years, with the couple also listing a 75,000-square-foot mansion in Caesarea, Israel for sale in 2020 for $259 million and selling a Tel Aviv penthouse for $33 million in 2024.