A duplex at 220 CPS just hit the market asking $10K psf

Vornado Realty Trust listed eighth-floor pad for $10,112 psf

TRD New York /
Apr.April 14, 2017 08:00 AM

“We have a few good ones left,” Vornado Realty Trust’s head honcho Steve Roth announced last week, writing about 220 Central Park South in his annual letter to investors. One of those good ones? A newly listed $80 million spread at the luxury condominium.

The real estate investment trust — which held several penthouses at the under-construction Midtown tower off the market — is now looking to sell the eighth-floor duplex for $10,112 per square foot, according to an amendment to the condo offering plan filed with the New York state Attorney General’s office. Measuring 7,911 square feet, the six-bedroom, seven-bath unit also comes with 1,095 square feet of outdoor space.

But even with a hefty price tag, the unit is far from the building’s priciest.

Last year, Vornado officially listed a massive, 23,000-square-foot quadplex for $250 million, a number that eclipses the city’s priciest closed sale to date. (That was the $100.5 million penthouse at One57, which closed in late 2014.)

At 220 CPS, multiple news outlets reported that hedge funder Ken Griffin and a mysterious Qatari buyer are looking to buy apartments north of $200 million.

The Robert A.M. Stern-designed building is split between a 69-story limestone tower and adjacent 14-story villa, where the new $80 million duplex is situated.

According to the latest version of the offering plan, Vornado is asking $100 million (or $10,186 per square foot) for Penthouse 73, a 9,817-square-foot unit in the tower. Penthouse 76, an 8,978-square-foot apartment, is asking $108 million (or $12,029 per square foot).

Roth — who is reportedly vetting buyers personally — hasn’t given an update on the building in more than a year, but he plugged the project in his annual letter earlier this month.

“In his annual letter, the greatest investor [Warren Buffett] hawks candy, furniture, jewelry and insurance. So, I guess it is okay for me to remind shareholders here that we are developing 220 Central Park South, the best apartment house in town,” Roth wrote. “Give us a call, we have a few good ones left.”


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