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TikTok investor Tim Gong has put nearly $34 million into two luxurious homes at 111 W. 57th St., the world’s thinnest skyscraper, on Billionaire’s Row in New York City.
Susquehanna International Group, LLP, a secretive high-speed trading company with offices outside of Philadelphia, owns approximately 15% of ByteDance Ltd., which was founded by TikTok owner Zhang Yiming, and has a value is estimated at $15 billion. Beijing-based social media company, according to reports.
As Managing Director of Susquehanna’s Asia Venture Capital Unit, Gong is credited with co-leading the investment in TikTok. according to reports.
At 111 W. 57th St., Gong purchased a 4,182-square-foot 52nd-floor full-floor unit for $25.63 million. With 3 bedrooms, 3.5 bathrooms, floor-to-ceiling windows, and sweeping views of the city skyline over Central Park.
The 84-story tower has 60 units and includes Steinway Hall, a landmark Steinway & Sons former showroom with a restored limestone façade built in 1925. At 2,779 square feet, it features two bedrooms, 3.5 baths and a wraparound terrace.
Both the Tower and Steinway Hall condos were sponsored units. “Gong is mainly in Asia, so he spends very little time here,” a source told Gimmy. The home is part of his global real estate portfolio, which also includes homes in Montana outside of Philadelphia. Gong is also known to have hosted a special party with his Bona film during the Shanghai Film Festival, where the wines were carefully selected, The Wall Street Journal once noted.
Supertoll was designed by SHoP Architects and developed by JDS Development Group, Property Markets Group and Spruce Capital Partners. Gong was represented by Chris Fry, his broker at Elegran Real Estate, who recently announced a partnership with Forbes Global Properties.
The acquisition is just another example of how Billionaires’ Row continues to attract offshore investors, Fry told Gimme Shelter.