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
From left: JP Morgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser and Texas Capital Bank CEO Rob Holmes (iStock, LowneyJen/Wikimedia, World Economic Forum/Wikimedia, Texas Capital bank)
Rise in home prices frees banks to offload mortgage risk
Rise in home prices frees banks to offload mortgage risk
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
PHE at 51 Jay Street and 4 Hunts Lane (Compass)
Dumbo penthouse leads Brooklyn’s luxury market
Dumbo penthouse leads Brooklyn’s luxury market
605 3rd Street and Casper's Luke Sherwin (Leslie Garfield, Getty)
Firm offer: Casper co-founder pays $500K over ask in Park Slope
Firm offer: Casper co-founder pays $500K over ask in Park Slope
Housing prices broke records for the third consecutive month in May, surging 16.6 percent over May 2020 (iStock)
Nowhere to go but up? Home prices smash another record in May
Nowhere to go but up? Home prices smash another record in May
34-20 Junction Blvd in Jackson Heights and Shorewood CEO S. Lawrence Davis (Google Maps, Shorewood)
Shorewood plans 227K-sq ft mixed-use project in Jackson Heights
Shorewood plans 227K-sq ft mixed-use project in Jackson Heights
Soho’s zoning madness, such as artists-only lofts and a ban on ground-floor retail, may finally change with a proposed rezoning.
The shopping district that banned retail: Soho’s incoherent zoning
The shopping district that banned retail: Soho’s incoherent zoning
(Illustration by Alexis Manrodt for The Real Deal)
The Real Deal’s Prodigy exposé wins NY Press Club Award
The Real Deal’s Prodigy exposé wins NY Press Club Award
arrow_forward_ios

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

Loading...