Australian tech millionaire lists $23M condo at Trump International

It’s the most expensive listing currently available at the building
By Decca Muldowney | April 17, 2019 12:00PM

Startive Ventures founder Simon Clausen and his condo at 1 Central Park West (Credit: LinkedIn)

Startive Ventures founder Simon Clausen and his condo at 1 Central Park West (Credit: LinkedIn)

Another seller is looking to offload Trump-branded property.Simon Clausen, a tech millionaire and one of Australia’s richest men, has listed his condo at Trump International Hotel and Tower for $22.9 million.

The four bedroom, four-and-a-half bathroom pad at 1 Central Park West is on the market for around $5,200 per square foot. It has an 80-foot long gallery hallway, views over Central Park from the living room, dining room and master bedroom, and a full chef’s kitchen.

Douglas Russell of Brown Harris Stevens has the listing.

Clausen bought the apartment for $13.1 million in 2009. The following year Australian newspaper the Daily Telegraph dubbed him “Australia’s newest property tycoon” after he spent around $40 million dollars on 15 properties in the Sydney Harborside that he planned to turn into luxury rentals.

The Australian tech tycoon made his fortune during the dot-com bubble with his software company WinGuides, which became PC Tools. In 2008, PC Tools was acquired by Symantec for over $270 million. Clausen now runs Startive Ventures, a technology startup investment firm.

He first listed his Trump International apartment for sale for $26.5 million in 2016, according to StreetEasy. The current price represents a discount of almost 14 percent from that original listing.

Clausen’s listing is the most expensive currently available in the building, and will have to compete with other active sales. An apartment with the same square footage on the 42nd floor of the luxury tower is currently listed at $18.9 million.

Last year, Japanese real estate billionaire Katsumi Tada sold his 6,360 square feet apartment at the building for $25 million, down from the $26 million he paid for it in 2008. He initially listed the apartment for $40 million but cut the price multiple times.

In October, it was revealed that investors at Trump hotels in New York and Chicago were facing losses. Between 2015 and 2017, revenue at the Trump International Hotel and Tower in New York fell from $34.4 million to $30.9 million — a 14 percent decline after adjusting for inflation, the Washington Post reported.