Thursday, May 19, 2022

Joe Tsai’s family office outed as buyer of $190M NYC home

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The waves came after Chicago hedge fund titan Ken Griffin set a record in 2019 for a record $ 238 million for several blocks inside the exclusive 220 Central Park South tower in New York City. These days, one of his neighbors is running to him for his neighbor. pul.

Hong Kong-based Blue Pool Capital is owned by Alibaba Group Holding Ltd. billionaire Dan Och, an investment advisory firm that owns part of the fortunes of co-founders Joe Tsai and Jack Mann, has become the new owner of a hedge fund’s penthouse. sold for $ 188 million last week.

Acesparks has announced the acquisition of Blue Pool, and the firm has acquired JPMorgan Chase & Co. added that he received a $ 71.5 million 30-year mortgage loan for a 73-story spread and lower-level service room.

Billionaire Tsai already owns a $ 157.5 million combo block owned by Tony.

Tsai, an executive vice president of e-commerce company Alibaba, is no stranger to a building designed by Robert AM Stern in front of Central Park from the southwest corner. In 2021, it allocated a total of $ 157.5 million for two full-story units in separate transactions. These apartments cover the 60th and 61st floors.

With this latest acquisition, Tsay now owns $ 345 million worth of real estate inside the tower.

In addition to the popularity of the purchase, it benefited greatly from the resale of Och. Och, who now lives in Florida for tax reasons, spent $ 93 million in 2019 on a nearly 10,000-square-foot four-bedroom residence – more than doubling his money.

South 220 Central Park is known as the richest condo tower in South New York history.
South 220 Central Park is known as the richest condo tower in South New York history.

If that serious turn isn’t enough, one of the units in the combination that Tsai bought in 2021 also made a pretty good dime. Originally sold for $ 51.42 million in February 2020, Tsai even pulled the 61st floor for $ 75 million, bringing in $ 23.57 million in revenue. According to data provided by StreetEasy, this was the city’s highest price between 2017 and 2021.

220 Central Park South is almost sold, with sales exceeding $ 1 billion and known as one of the city’s most successful new residential buildings.

Tsai, who was born in Taiwan and holds Canadian citizenship, also owns a 49% stake in the Brooklyn Nets basketball team. His fortune is $ 7.4 billion.

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