The most expensive apartment in New York has been snapped up by the Russian billionaire Dmitry Rybolovlev.

Located at 15 Central Park West, the apartment is a dream piece of real estate, with stunning views of the city's skyline and Central Park from its huge terrace. In addition to the impressive exterior and location, Mr Rybolovlev will have access to four bedrooms, a gallery, a bar and a library, giving him plenty of space to enjoy his lifestyle.

The businessman made his billions as the former owner of Urakali, one of Russia's largest potash fertiliser concerns. As the world's 93rd richest person with a net worth of around $9.5 billion, the Russian is will barely feel the $88 million he is forking out for the apartment, after already purchasing Donald Trump's villa in Palm Beach Florida for $100 million.

Mr Rybolovlev has bought the apartment from former Citigroup chief executive Sandy Weill and his wife Joan, who bought the apartment for $42.2 million. However, they have insisted that there will be no negotiation on the latest price tag, but all of the proceeds are to be donated to charity.

The hefty price tag, which many real estate experts believed nobody would pay, makes the apartment the most expensive to be sold in Manhattan, beating the previous record of $53 million paid in 2006 for the Harkness Mansion.

According to Architectural Digest, the Central Park property manages to overcome its status as an apartment to provide a “sweep of space” which provides a “Versailles-like enfilade of grand rooms and views”, with the highest ceilings and windows possible in the given space.