Vornado’s 220 Central Park South closes $64M condo sale

Pricey purchase is the third major sale recorded at the building in a little over two weeks

Nov.November 12, 2019 03:30 PM
220 Central Park South (Credit: Getty Images)

220 Central Park South (Credit: Getty Images)

Vornado Realty Trust’s 220 Central Park South has closed another pricey sale.

Unit 49A, which has five bedrooms and six bathrooms, sold for $64.1 million, according to property records filed Tuesday. That’s more than $9,700 for each of the unit’s 6,591 square feet.

The buyer, an entity named K & J Assets, is linked through mortgage documents to an address at a housing complex in Hong Kong. The documents show it took out a $37.8 million mortgage.

Scott Segal, the authorized signatory on the deed, declined to comment on the sale.

The closing is the third at 220 Central Park South to appear in public records in a little over two weeks, following sales recorded in late October of $55 million and $61 million. Other high-end transactions at the address in recent years include purchases by British musician Sting and hedge funder Ken Griffin, who dropped a record $238 million for the penthouse in January.

It’s possible that the person or persons behind K & J Assets will never be disclosed to the public. Anonymous buyers at the building were briefly at risk of having their identities revealed, after the state tax department determined a new LLC transparency law applied to condo purchases, causing panic in New York City’s real estate industry. Under the law, buyer information might have been accessible through freedom of information requests.

However, the state tax department last week reversed its position, explaining that the law was not intended to apply to apply to condos. “The Department’s initial understanding of the new law was generated based on the agency’s preliminary reading of the bill language and how it interacted with other relevant sections of the law,” a representative of the state tax department said in an email. “Since that time, the bill sponsors have clarified their intent.”

Vornado markets the building as having views of Central Park from every residence, and “a unique architectural composition featuring an intimate 18-story Villa and 79-story tower.”

Write to Sylvia Varnham O’Regan at [email protected]

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