HGTV home flippers don’t have anything on this man.
Hedge fund billionaire Dan Och simply doubled his cash in one of many greatest residential offers in New York historical past, the Wall Road Journal first reported.
The Och-Ziff Capital Administration founder has bought his penthouse at 220 Central Park South for near $190 million to thriller patrons —that’s virtually double the $93 million he paid in 2019. He paid a further $2 million for a one-bedroom unit on a decrease flooring, though it’s unclear whether or not or not the small unit was included within the sale.
The sprawling four-bedroom property is greater than 9,800 sq. toes and comes with gorgeous views.
“It’s in turn-key situation,” an inside supply advised Gimme.
The limestone clad constructing has been probably the most profitable new development efforts in metropolis historical past — a kind of 2.0 model of 15 Central Park West. Robert A.M. Stern as soon as advised Gimme that each buildings — 220 and 15 CPW — are a part of the identical household.
“They belong to a household of kinds, however like in any household, every baby is slightly bit completely different,” Stern stated.
Och nonetheless has a residence at 15 CPW, which he had put in the marketplace for $57.5 million in 2019, the yr he purchased at 220 and moved to Florida for tax functions. It’s not in the marketplace.
220 Central Park South is sort of bought out and has already accomplished greater than $1 billion in gross sales.
Patrons embrace Chicago hedge funder Ken Griffin, founder and CEO of Citadel, who already paid $238 million for a number of models in the midst of the constructing in 2019 — that worth continues to be a file for a residential property within the U.S.
Griffin then paid a further $3.9 million for 2 extra models on the constructing’s twentieth flooring later that yr. Combining the models is a long run venture that’s removed from completion, sources say, main some to take a position that Griffin was the client of Och’s penthouse.
Nevertheless, a Griffin spokesperson advised the Submit that he’s not the client — although Griffin has been on fairly the residential spending spree lately. shopping for up $875 million value of houses in locations like New York, Palm Seashore and London.
His most up-to-date buy was a $75 million property at 8 Star Island — which was a Miami file.
Different boldface names within the constructing embrace the musician Sting and his spouse, Trudie Styler — who have been additionally former residents at 15 CPW. Joseph Tsai, the proprietor of the Brooklyn Nets and the co-founder of e-commerce web site Alibaba, paid $157.5 million for a two unit combo at 220 CPS.
The constructing boasts interiors by Thierry Despont. Facilities embrace non-public eating rooms, a health club, juice bar, library, basketball court docket — and prime notch safety.