The nonconforming “jumbo” mortgage, which exceeds the conventional “conforming” loan limit of $729,750 set by Fannie Mae and Freddie Mac, is becoming more difficult to obtain.
Property records filed last week show that a corporation linked to Andrei Vavilov closed on the purchase of a penthouse at Time Warner Center for $37 million.
A penthouse atop the Trump International Hotel and Tower owned by the financially troubled Italian movie mogul Vittorio Cecchi Gori is in contract to sell for $18 million.