Ekaterina Rybolovleva, 22, now owns the most expensive apartment ever sold in New York City, after her billion father, Russian fertiliser magnate Dmitry Rybolovlev on Wednesday, closed the $88 million-deal for the Central Park West pad. He is said to be the 93rd richest man.

The apartment, a lavish penthouse with views of Central Park, was reportedly purchased just for his 22-year-old daughter, who is a student at an undisclosed U.S. university. Ekaterina will live in the 10-room penthouse whenever she is in New York.

The apartment boasts 6,744 sq ft (627 sq m) and was sold by Sanford I. Weill, the former head of Citigroup Inc. It has a wrap around terrace, hence Ekaterina will have a panoramic view of the park. It reportedly has a custom-made oval bedroom, a library, gallery, chef's kitchen and the terrace is 2,100 sq ft (195 sq m).

The Wall Street Journal reported that the apartment's sale generated about $2.5 million in city and state taxes. There was also a brokers' commission of about $3.5 million.

The BBC has reported that the Central Park West apartment is not thought to be the most expensive U.S. property in Ekaterina's father has in his portfolio, as he is said to have shelled out almost $100 million for an investment property in Palm Beach, Fla. back in 2011.