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Russian Billionaire Looks to Flip Manhattan Condo After Just 4 Months—for $2 Million Profit

Plans to create an Upper East Side mega-mansion reportedly fall through

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Russian banking billionaire Alexei Kuzmichev purchased the four-story condo on Manhattan’s Upper East Side in May.

Composite: Douglas Elliman; LetterOne Group; Mapbox; OpenStreetMap
Russian banking billionaire Alexei Kuzmichev purchased the four-story condo on Manhattan’s Upper East Side in May.
Composite: Douglas Elliman; LetterOne Group; Mapbox; OpenStreetMap

A Russian billionaire who purchased a four-story condo on Manhattan’s Upper East Side in May, hoping to turn it into a mega-mansion, has put the unit back on the market, according to published reports.

The New York Post reported that Russian banking billionaire Alexei Kuzmichev listed the quadruplex at 33 East 74th St., located on the first four floors of a seven-story townhouse known as the Atterbury Mansion, with an asking price of $44 million. Common charges for the unit, according to a listing on the Douglas Elliman website, are $13,792 a month.

More:Russian Billionaire Gets Green Light for Upper East Side Mega-Mansion

The 10,088-square-foot condo is 33 feet wide. It has five bedrooms, all with en-suite baths; three additional half-baths; a parlor with 12-foot ceilings; an elevator, and a private terrace. The Douglas Elliman listing describes the unit as a "white box" and suggests that "purchasers should bring their designers/architects."

A concierge and a full-time doorman staff the townhouse, which was built in 1901.

The Post previously reported that Mr. Kuzmichev—which the paper described as a "secret buyer" of the property—purchased the condo in May for $42 million. At the same time, the paper reported, he bought a three-bedroom, 3,800-square-foot unit in the building next door for $15.5 million, presumably with plans to merge the two into a mega-mansion.

Mr. Kuzmichev made his fortune as a founder of the organization that owns Russia’s Alfa Bank. He is worth an estimated $7.6 billion, according to Forbes.

Douglas Elliman refused to comment on the townhouse or the seller.