Tag Archives: Interesting Facts

Why Russia’s Patriots Love to Buy U.S. Real Estate | The Moscow Times

The correct answer to this mystery is that Russian leaders dream of strolling down Fifth Avenue to their apartment or penthouse. Apparently, Russian leaders have a sick love-hate relationship with the US. They love to buy US property and send their kids to to US schools, but they hate the US in general. Did they forget to take their medication? And don’t Chinese leaders do the same thing? Who buys property in a country they hate? I guess logic does not apply here.

All this raises a question that opposition leader Boris Nemtsov tried to answer on his Facebook page. “There’s one thing I just don’t get about these people. Many of them have real estate in the U.S. Many send their children there to go to school. So why are they [Russian leaders] always ranting hateful stuff about the U.S.? So no one guesses that their real dream is to stroll along Fifth Avenue?”

Journalist Andrei Malgin decided to get to the bottom of the mystery. Using just his computer and the Internet, he dug up some very interesting facts. It turned out that Malkin has real estate in North America. Furthermore, since 1994 he has been trying to get a residence permit in Canada, justifying his request by his business interests. In his application, he openly declared that he owns 111 — yes, 111 — apartments in Toronto. The Canadian authorities turned down his request, and Malkin even tried to take them to court. Unfortunately for him, the court refused to hear his suit.

But as Malgin discovered, those aren’t the only properties in the Western Hemisphere belonging to Malkin, who is from far-away Buryatia. Public documents show that Malkin’s company, which has the mysterious name 25 ?? ST74B LLC, owns a duplex worth $15.6 million in the Time Warner Center in New York City. Malkin’s lawyers  denied that he is the owner, but public documents from a suit the company brought against its construction manager show that Malkin owns the apartment. They also solved the mystery of his company name, which is an abbreviation of the address: 25 Columbus Circle, apartment 74B.

Why Russia’s Patriots Love to Buy U.S. Real Estate | Opinion | The Moscow Times