Tuesday, January 18, 2022

Billionaire Daniel Och flips 220 CPS sky palace for $190M

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There is nothing in this man on the HGTV home wings.

Hedge fund billionaire Dan Och has doubled his money in one of the largest housing deals in New York history, the Wall Street Journal reported first.

The founder of Och-Ziff Capital Management sold a penthouse in South 220 Central Park to mysterious buyers for $ 190 million – almost double the $ 93 million he paid in 2019. He paid an additional $ 2 million for a one-bedroom apartment. downstairs, although it is unknown whether the small unit is for sale.

The common four-bedroom property is over 9,800 square feet and has a great view.

An internal source told Gimme, “It’s in a key assignment position.”

220 Central Park South is the richest condo tower in the city’s history.
It boasts spectacular views of Central Park.
It boasts spectacular views of Central Park.

The limestone-lined building was one of the most successful new construction projects in the city’s history – version 2.0 of 15 Central Park West. Robert AM Stern once told Gimme that both buildings – 220 and 15CPW – are part of the same family.

“They belong to a family of shapes, but as with any family, every child is a little different,” Stern said.

Hung still owns 15 CPWs, which he put on the market in 2019 for $ 57.5 million, that year he bought for 220 and moved to Florida for taxes. It is no longer on the market.

220 Central Park South has almost sold out and has already completed more than $ 1 billion in sales.

Buyers include Chicago barrier financier Ken Griffin, founder and CEO of Citadel, who paid $ 238 million in 2019 for several facilities in the middle of the building – a price still a record for U.S. residential property.

Griffin then paid an additional $ 3.9 million that year for two more units on the 20th floor of the building. According to sources, the merger is a long-term project, far from being completed, leading some to speculate that Griffin was a buyer of the Ach penthouse.

Ken Griffin set a national sales record when he paid $ 238 million for building units.
Ken Griffin set a national sales record when he paid $ 238 million for building units.

However, Griffin’s spokesman told the Post that he was not a buyer – although Griffin has been dealing with housing costs in recent years. Buying homes for $ 875 million in places like New York, Palm Beach and London.

His most recent purchase was a $ 75 million property on an 8-star island – a Miami record.

Other bold names in the building include musician Sting and his wife, Trudie Styler – they were former residents of 15 CPW. Joseph Tsai, owner of the Brooklyn Nets and founder of the Alibaba e-commerce site, paid $ 157.5 million for a combination of the two units at 220 CPS.

The building has an interior designed by Thierry Despont. Amenities include private dining rooms, a gym, a juice bar, a library, a basketball court and a high level of security.

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