Home Agent Billionaires’ Row Penthouse Goes For a Hefty $72M

Billionaires’ Row Penthouse Goes For a Hefty $72M

by admin
0 comment

New markets require new approaches and new tactics. Experts and industry leaders will take the stage at Inman Connect New York in January to help you navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.

A full-floor penthouse at 220 Central Park South has sold for $72 million in one of the city’s biggest deals so far this year, The Wall Street Journal reported.

The 5,000-square-foot three-bedroom pad sold in an off-market deal.

The buyer could not immediately be determined. However, that same buyer also purchased a smaller $3 million unit in the building.

The property designed by Robert A.M. Stern Architects has seen a number of flashy deals in recent years, the biggest of which was the purchase of a $238 million penthouse in 2019 by hedge-funder Ken Griffin, which currently holds the title of priciest sale in the U.S.

In early 2022, Dan Och also sold a penthouse in the building for $188 million, almost doubling what he paid for the unit in 2019. The buyer of that penthouse was later revealed as Alibaba co-founder Joseph Tsai, who also owns the Brooklyn Nets.

The swanky building with a façade of Alabama Silver Shadow limestone includes a pool, athletic club and private restaurant. The property was developed by Vornado and Deborah Kern of the Corcoran Group leads sales for the building.

Like the residential real estate market at large, the luxury sector has seen sharp declines in recent months, as the Fed continues to hike interest rates and the global economy remains uncertain. Luxury sales in Manhattan declined 18.3 percent year over year in the third quarter of 2022, according to data from Douglas Elliman and Miller Samuel.

Email Lillian Dickerson

You may also like