New York City Apartment Sells For Record Price

A New York City apartment recently changed hands for $88 million. It's a record for the New York market, and apparently the original asking-price for the property. The Central Park West penthouse belonged to former Citigroup chief Sanford Weill.

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RENEE MONTAGNE, HOST:

Let's go to a very different reality for one student. Our last word in business today: beyond opulent.

A New York City apartment recently changed hands for $88 million - a new record for the New York market. Of course, it does feature a wraparound terrace and an oval shaped bedroom. The Central Park West penthouse belonged to former Citigroup bigwig Sanford "Sandy" Weill. He sold it to a Russian fertilizer mogul, though it was actually purchased by a trust set-up for the Russian billionaire's 22-year-old daughter, who is still a college student.

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MONTAGNE: I'm Renee Montagne.

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