The Real Deal New York

Bill Ackman sells Beresford condo to ex for $15M. Here’s the other real estate in play.

Amid divorce, hedge funder's NYC and Hamptons homes could be at stake
By E.B. Solomont | September 04, 2018 05:45PM

From left: One57 at 157 West 57th Street, 111 Greene Street, Karen Ackman, and Bill Ackman (Credit: Wikipedia and Getty Images)

Hedge funder Bill Ackman is parting ways with his duplex at the Beresford for $15 million.

The silver-haired founder of Pershing Square Capital Management looks to have sold the co-op to his ex, landscape architect Karen Ann Herskovitz, for $15 million, property records show. Ackman’s not quite leaving the building, though, having scooped up two eighth-floor apartments last year at the storied Upper West Side building.

The Ackmans, who were married for 25 years, reportedly split in 2016. Like other high-profile divorces — Macklowe, anyone? — they’re now divvying up the marital assets.

That includes homes in New York City and the Hamptons. We’ve scoured property records so you don’t have to. Here’s what’s at stake:

Beresford
During happier times, the Ackmans assembled a palatial spread at the Beresford, where they paid $26 million in 2006 for a duplex on the 17th and 18th floors. In 2017, Ackman shelled out $22 million for two more units on the eighth floor. It now appears he’s claiming those as a bachelor pad and transferring the duplex to his ex.

111 Greene Street, PHC
Earlier this month, Ackman sold a Soho penthouse to his ex for $2.625 million. Records show he bought the 1,814-square-foot pad through an LLC — 109-C Greene LLC — for $5.5 million in 2013.

Winter Garden penthouse
It’s unlikely that the One57 condo is part of the divorce settlement, but we’ll include it just in case. An Ackman-led investor group paid $91.5 million for the 13,554-square-foot duplex in 2015. At the time, Ackman called it a “fun” investment and said he thinks he could someday sell it for $500 million.

420 West Broadway, PHB
Back in 2015, Ackman used an LLC when he bought this condo for $17 million from Drew Katz, the owner of a company that sells billboard ads. Katz was also the person who tipped off Ackman about pricing issues at Valeant Pharmaceuticals — where Pershing Square ultimately took a $2.8 billion loss following an SEC investigation. The pad is currently on the market for $17 million, according to StreetEasy. Douglas Elliman’s Merrily Connery has the listing.

Ocean Road
In 2011, the tennis-obsessed hedge fund chief shelled out $22 million for a place on Ocean Road in Bridgehampton. The beachfront home sits on six acres with a tennis court (naturally) and views of Sagg Pond.

Bridge Lane
In 2015, Ackman was the secret buyer behind a $23.5 million purchase on Bridge Lane. Records show Ackman picked up three lots — including one once owned by Robert Hayes Burns Baldwin, former chairman of Morgan Stanley. The estate includes two homes separated by a par-three golf course.