In October this year, Tito’s penthouse apartment in New York, at 730 Park Avenue, opened its’ doors to potential buyers. The asking price is more than $20 million for a residence purchased by the Yugoslavian government in 1975 for $100,000.
Josip Broz Tito was a Yugoslavian communist revolutionary and a statesman. He served in numerous different roles between 1943 and 1980, when he died. When World War II started, he became a leader of the Partisans, a communist-led resistance to Nazi occupation. Tito’s presidency has been often criticized as authoritarian, but, try asking anyone from the former Yugoslavia what they think about Josip Broz, and the vast majority of the time, you will hear the same: People talk nostalgically about ‘good times’ when families finances were not as strained – a complaint not that different from the increasingly vocal populist masses in the West – while streets and villages throughout the former Yugoslavia bear his name.
Tito’s reign, though, remains controversial to many others, with some placing the blame on his government for the relative poverty of the former Yugoslavia since its breakup – an area that includes Slovenia, Serbia, Croatia, Bosnia and Herzegovina, and Macedonia – as his tight-fisted rule strangled innovation and the necessary development of institutions needed for success in today’s world.
Tito traveled the globe and had many properties in different countries and continents. The Park Avenue residence is a 418-square-meter penthouse, used by Tito when he was visiting New York City. The penthouse has a starting price of unbelievable $20 million. Standing on the balcony of the luxurious place gives a panoramic view of New York.
It is possible that the penthouse could have been listed at an even higher price. Over the years, it has fallen into disrepair and remained vacant since 1992. Serbia has been paying the maintenance since then, at a cost of $14,000 per month. The advertisement for the property on Douglas Elliman Real Estate’s website shows only one picture of the outside of the building.
The cost of improving the penthouse will likely be daunting and require as much as three years.
According to Douglas Elliman, the penthouse has four bedrooms and five bathrooms, a spacious living room and a gorgeous fireplace. There are three balconies and a library. Oversized windows provide a perfect view of Park Avenue.
The penthouse is owned by the successor states of Yugoslavia, which broke apart in 1992. In addition to Tito’s former residence, those countries are also listing Fifth Avenue duplex that was used for diplomats to the United Nations, as well as an additional 49 properties located throughout Japan, Switzerland, and Germany.
Serbia will receive 40% of the proceeds from the sale, primarily because it has been responsible for maintenance of the properties, with the remainder of the funds being shared among the other successor states to Yugoslavia. None of the countries involved in the sales have stated if the funds are earmarked for any specific purpose.
About the Author:
My name is Dragana Drobnjak and I was born in Belgrade, the capital city of Serbia. I am 26 years old and have graduated from the Faculty of Philosophy in Novi Sad and earned a Bachelor’s degree in Pedagogy. Pedagogy is the discipline which deals with the theory and also the practice of teaching. It deals with the question:”What a human being needs to become?” I have lived in Serbia basically all my life, although I moved to Croatia when I was 12 years old, and lived there for 6 years. My hobbies are writing, sports, philosophy, science, music, nutrition, and health.