REAL ESTATE: Russian Oligarchs Rush To Sell Their Properties On Manhattan's Billionaire's Row Before Sanctions Hit

MANHATTAN (NYC) NY: Some 61 Russian owned properties have already gone on the market or dropped prices and at least another 70 are considering so-called 'whisper sales'

Properties for sale include suites at the Plaza Hotel and a $41 million mansion

Not all of the listings have been private.

Alexei Kuzmichev, 59, an owner of Alfa-Bank - Russia's largest private bank, which has been slapped by US sanctions — has listed his $41 million Manhattan quadruplex.

He bought the Upper East Side property, at 33 East 74th Street, in 2016 for $42 million.

Forbes estimates that the financier is worth $6.2 billon.

Many of the listings are on Manhattan's 'Billionaire's Row'.

Two Democratic state lawmakers, Senator Brad Hoylman and Assemblywoman Emily Gallagher, who represent Manhattan and Brooklyn, respectively, introduced legislation last week aimed at combating 'secretive patterns of real estate investment in New York City among international elites through anonymous LLCs.

They want to end the use of New York LLCs by wealthy Russian nationals in New York state to purchase luxury homes.'

The bill would require LLCs to disclose their owners to the New York Department of State and would create a public database of which LLCs share common ownership.