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

11

HGTV home flippers don’t have anything on this man.

Hedge fund billionaire Dan Och simply doubled his cash in one of many largest residential offers in New York historical past, the Wall Street Journal first reported.

The Och-Ziff Capital Management founder has offered his penthouse at 220 Central Park South for near $190 million to thriller consumers —that’s nearly 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 beautiful views.  

“It’s in turn-key condition,” an inside supply instructed Gimme. 

220 Central Park South is the wealthiest condo tower in city history.220 Central Park South is the wealthiest apartment tower in metropolis historical past.Robert A.M. Stern ArchitectsIt boasts sweeping Central Park views.It boasts sweeping Central Park views.Realtor.com

The limestone clad constructing is has been probably the most profitable new building efforts in metropolis historical past — a form of 2.0 model of 15 Central Park West. Robert A.M. Stern as soon as instructed Gimme that each buildings —220 and 15CPW — are a part of the identical household.

“They belong to a family of forms, but like in any family, each child is a little bit 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 is not in the marketplace. 

220 Central Park South is sort of offered out and has already accomplished greater than $1 billion in gross sales.

Buyers embody Chicago hedge funder Ken Griffin, founder and CEO of Citadel, who already paid $238 million for a number of items in the course of the constructing in 2019 — that worth remains to be a file for a residential property within the U.S. 

Griffin then paid a further $3.9 million for 2 extra items on the constructing’s twentieth flooring later that yr. Combining the items is a long run venture that’s removed from completion, sources say, main some to take a position that Griffin was the customer of Och’s penthouse.

Ken Griffin set a national sales record when he paid $238 million for units in the building.Ken Griffin set a nationwide gross sales file when he paid $238 million for items within the constructing.TNS

However, a Griffin spokesperson instructed the Post that he’s not the customer — although Griffin has been on fairly the residential spending spree in recent times. shopping for up $875 million price of properties in locations like New York, Palm Beach and London.

His most up-to-date buy was a $75 million property at 8 Star Island — which was a Miami file. 

Other boldface names within the constructing embody 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. Amenities embody personal eating rooms, a health club, juice bar, library, basketball courtroom — and prime notch safety. 

Comments are closed.