A condo at Vornado’s 220 Central Park South just sold for $34M

The buyer of Unit 35A is anonymous

TRD NEW YORK /
Feb.February 12, 2019 05:15 PM

220 Central Park South and an anonymous buyer

It looks like Ken Griffin has a new neighbor in the ultra luxe 220 Central Park South.

An anonymous buyer paid $33.5 million for Unit 35A at the 79-story limestone tower, developed by Vornado Realty Trust and designed by Robert A.M. Stern. According to the offering plan filed with the New York Attorney General’s office, Vornado initially sought $30 million for the unit but later raised the price to $34.5 million.

The buyer used an LLC called “220 CPS LN” to purchase the apartment, according to documents filed with the city on Tuesday.

The unit spans nearly 4,200 square feet and features five bedrooms and five bathrooms. Amenities at the tower include a wine cellar, juice bar, library, swimming pool, basketball court, and a golf simulator room.

Aside from hedge funder Ken Griffin’s record-breaking $238 million purchase of the building’s penthouse, other buyers at 220 Central Park South include Daniel Ochs, another hedge funder, and debt-collection mogul Andrew Zaro.

Vornado is making profits estimated to hit $1 billion, according to the company’s fourth-quarter earnings call Tuesday morning. The project has an estimated sellout of $3.4 billion and total construction cost of $1.4 billion. All 27 of the full-floor units have now sold.

“Big picture, our financial plan is to redeploy the proceeds of 220 CPS sales into the cap[ital] ex[penses] of Farley, Penn One, and Penn Two,” Vornado CEO Steve Roth said on Tuesday morning call, referring to the company’s other projects. “Give or take, we expect to fund all of this cap ex probably with no or very little new debt.”


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

(Illustration by Dave Murray)

The squeeze on resi brokerages is forcing consolidation, cooperation

From left: 220 Central Park South, Vornado CEO Steve Roth, Sting and Ken Griffin (Credit: Google Maps, Getty Images)

At 220 CPS, 91% of condos are sold amid “very soft” market: Vornado

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

arrow_forward_ios
Loading...