Prime ex-Yugoslav property in NY sold for over $12 million

BELGRADE, Serbia – 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 per cent of the price offered by an unknown bidder.