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**jojocomok** · 07-12-2010, 04:55 AM

http://online.wsj.com/article/SB1000...=rush+limbaugh

Limbaugh Gets Mega Millions on Condo Sale

By JOSH BARBANEL

A year after railing about the high tax burden on wealthy New Yorkers, Rush Limbaugh, the conservative radio talk-show host, is severing one more tie with New York, selling his lushly decorated Fifth Avenue penthouse to an undisclosed buyer.

Mr. Limbaugh's 10-room condominium, which features a 30-foot-wide living room with fireplace and four terraces overlooking Central Park at East 86th Street, went into contract Thursday for a bit under the final $12.95 million asking price, brokers said.

One broker familiar with the transaction said the final price was about $11.5 million. Mr. Limbaugh paid just under $5 million for the apartment as well as a maid's room and a storage locker, in 1994.

At that price, city officials said that the sale would usually trigger a payment from the seller at the closing of about $325,000 in transfer taxes, including about $164,000 for New York City and $161,000 for New York state to help close the state's huge budget deficit.

07-12-2010, 04:55 AM	#1
jojocomok Join Date Oct 2005 Posts 458 Senior Member	Escape from New York: Limbaugh gets mega millions on Manhattan condo sale http://online.wsj.com/article/SB1000...=rush+limbaugh Limbaugh Gets Mega Millions on Condo Sale By JOSH BARBANEL A year after railing about the high tax burden on wealthy New Yorkers, Rush Limbaugh, the conservative radio talk-show host, is severing one more tie with New York, selling his lushly decorated Fifth Avenue penthouse to an undisclosed buyer. Mr. Limbaugh's 10-room condominium, which features a 30-foot-wide living room with fireplace and four terraces overlooking Central Park at East 86th Street, went into contract Thursday for a bit under the final $12.95 million asking price, brokers said. One broker familiar with the transaction said the final price was about $11.5 million. Mr. Limbaugh paid just under $5 million for the apartment as well as a maid's room and a storage locker, in 1994. At that price, city officials said that the sale would usually trigger a payment from the seller at the closing of about $325,000 in transfer taxes, including about $164,000 for New York City and $161,000 for New York state to help close the state's huge budget deficit.
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