Mother in China Buys Toddler $6.5 Million Manhattan Condo

| by Sarah Fruchtnicht

A mother in China who claims her daughter will attend a prestigous university in New York City one day recently bought a $6.5 million condo for the girl, who is now only a toddler. 

"She said, well, her daughter was going to go to Columbia, or NYU or maybe Harvard, and so she needed to be in the center of the city and that was why she was picking this one particular apartment," Senior Vice President for Sotheby's International Realty Kevin Brown told China's CCTV News.

Brown said he showed the anonymous buyer locations all over Manhattan, but she chose a unit in One57, formerly known as Carnegie 57, a 75-story skyscraper at 157 W 57th St. in Midtown.

The building designed by a Pritzker prize-winning architect is still under construction, delayed after the infamous crane collapse that occurred during Hurricane Sandy.

The condo between Sixth and Seventh Avenues will have a library, pool table, 7.3 meter aquarium as well as a “pet washroom”

Less than two years since the purchase, the property value is now $8.9 million.

NY Magazine's Dan Amira reported the story in, “We Already Know Who the Worst Person in NYU’s Class of 2032 Will Be.”

As inequality widens in China, outrage is brewing over the extravagant practices of Communist Party officials like Bo Xilai. The Telegraph reported that comments on Weibo, China’s version of Twitter, suggest the woman is related to a corrupt government politician.

Source: TIME, NY Magazine, Telegraph