Lucille Ball's Trust Buys New York Condo

Lucille Ball's daughter, Lucie Arnaz has recently purchased a $1.1M Condo with a trust that was set up by her mother. Her eponymous trust closed last month on a two-bedroom, 1,014-square-foot apartment at the new rental-turned-condo building Sheffield57 near Columbus Circle.

"It's my trust set up by my mother and it has been invested for two decades," Ms. Arnaz, the 56-year-old actress, wrote to The Observer. "I manage it now and I felt this was a good investment for the Trust. It's that simple. I may or may not even live there."

Read The New York Observer for more information.