Billionaire Nassef Sawiris—the richest man in Egypt with a current net worth of $7 billion, according to Forbes—just scooped up late businessman Edgar Bronfman, Sr.'s penthouse at 960 Fifth Avenue for a whopping $70 million.

Originally listed for $65 million in March by Brown Harris Stevens, the opulent Upper East Side residence—which touts 16 rooms including five bedrooms and eight baths—triggered a bidding war among a slew of affluent hopefuls (among the rumored bidders was Walmart heiress, Alice Walton).

The incredible transaction annihilated the previous record for the most expensive co-op ever sold in New York City: entertainment bigwig David Geffen's $54 million buy at 785 Fifth Avenue in 2012.

Photos and details courtesy of Curbed NY.

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