Bill Ackman handed over another co-op to his ex-wife

Ackman's stake in the unit was valued at $7M

New York /
Oct.October 02, 2018 01:00 PM

Bill Ackman and his sold penthouse at 420 West Broadway (Credit: Getty Images and Douglas Elliman)

UPDATED, Oct. 3, 12:31 p.m.: Hedge funder Bill Ackman parted ways with another of his New York apartments.

Ackman transferred his penthouse at 420 West Broadway to his ex-wife for $7 million, according to records from the city’s Department of Finance. The co-op was listed for $17 million, the same price Ackman paid for the unit in 2015. (He bought the apartment from Drew Katz, who, as TRD reported in 2017, warned Ackman that Valeant Pharmaceuticals had systemic price problems that eventually cost Ackman’s company $4 billion.)

The $7 million, which accounts for Ackman’s interest in the apartment, is 50 percent of the appraised value of the unit, sources said. The couple jointly owned this property — as well as the units at the Beresford and 111 Greene Street.

The penthouse at the Soho Gallery Building spans roughly 3,500 square feet and has a a 528-square-foot terrace. The master suite in the duplex features a private garden, a windowed walk-in closet and sitting area with a projector screen and surround sound.

Ackman and his ex, landscape architect Karen Ann Herskovitz, reportedly split in 2016. Like other high-profile divorces, the pair have been dividing up their assets, which includes homes in New York City and the Hamptons.

Last month, Ackman, the founder of Pershing Square Capital Management, also gave up his 50 percent stake in the duplex at the Beresford for $15 million. He previously snagged two other units in the building.

Ackman also transferred his 50 percent interest in a Soho penthouse at 111 Greene Street to his ex for $2.625 million. Records show he bought the apartment through an LLC for $5.5 million in 2013.


Related Articles

arrow_forward_ios
Illustration of Loews Corporation's Jonathan Tisch and Taubman Centers’ Robert Taubman (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Tisch, other Hamptons billionaires shamed by water authority
Tisch, other Hamptons billionaires shamed by water authority
Corcoran's Tim Davis with 1116 Meadow Lane (Tim Davis Hamptons)
Estate trades for $48M on Meadow Lane — $9M above ask
Estate trades for $48M on Meadow Lane — $9M above ask
Housing, Collapse
Housing starts collapse under inflation, high rates
Housing starts collapse under inflation, high rates
Blend Labs ceo Nima Ghamsari (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Blend)
Digital mortgage firm Blend loses $478M, sheds more of workforce
Digital mortgage firm Blend loses $478M, sheds more of workforce
(Illustration by Kevin Rebong for The Real Deal with Getty)
Mortgage demand drops to turn-of-the-century levels
Mortgage demand drops to turn-of-the-century levels
From left: Lee Mintz, Eugene Litvak, Phillip Salem and Compass CEO Robert Reffkin (Compass, Lee Mintz, Getty)
Compass agents defend company against taunts of “financial negligence”
Compass agents defend company against taunts of “financial negligence”
Wells Fargo CEO Charles Scharf (Getty Images)
Wells Fargo backing off mortgage market
Wells Fargo backing off mortgage market
One Brooklyn Bridge Park units 427/8 and 1115 (StreetEasy, Google maps)
One Brooklyn Bridge Park condos top Brooklyn luxury market
One Brooklyn Bridge Park condos top Brooklyn luxury market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...