It was a blockbuster year for luxury real estate in New York City, with several sales breaking records even as the lower end of the market lagged.
Several business moguls made major purchases, and one very lucky 22-year-old was handed the keys to an $88 million apartment in one of Manhattan's most powerful buildings.
Real estate listings site Point2Homes compiled a list of the 10 biggest residential sales in New York City in 2012.
#10 The Cy Twombly Foundation bought an Upper East Side mansion for $27.5 million.
The foundation bought the townhouse at 19 East 82nd St. in May with plans to turn it into an education center and small museum to celebrate the works of the late artist. It was sold by art dealer Warren Adelson.
Source: The Wall Street Journal and Point2Homes
#9 A co-op at 1030 Fifth Avenue sold for $31.5 million.
Cellular communications mogul George Blumenthal sold his sprawling ninth floor apartment to Duquesne Capital Management managing director Zachary Jared Schreiber and his wife Lori in April.
Source: The New York Observer andPoint2Homes
#8 A penthouse at the Park Laurel on the Upper West Side sold for $33.5 million.
Hollywood producer Riza Aziz bought the seven-bedroom spread at 15 West 63rd Street in December. The sellers were Peter Edward Chadney and Simone Cecile Von Graffenried Simperl of Switzerland. 
Source: The Real Deal andPoint2Homes
See the rest of the story at Business Insider
Please follow The Life on Twitter and Facebook.
