Vornado inks another $52M closing at 220 Central Park South

Last month the floor below at the ultra-luxury skycraper sold for about $51M

New York /
Apr.April 06, 2020 10:00 AM
 Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)


Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)

The global pandemic that continues to slam markets hasn’t stopped closings at Vornado Realty Trust’s ultra-luxury 220 Central Park South.

Another eye-popping sale has been completed at the Billionaire’s Row tower, this time for almost $52.3 million, a property record filed last week shows. The offering price on the full-floor unit was $57 million, per a 2019 amended condominium offering plan.

The buyers of the unit are two trusts, whose trustees are David J. Stoll and Walter Edelstein, the filing shows. Stoll, an attorney, did not immediately respond to a request for comment. Walter Edelstein, also an attorney, could not be reached.

The four-bedroom unit encompasses the 62nd floor of the building. The deal for the 5,935-square-foot pad closed March 31, some 11 days after Gov. Andrew Cuomo ordered non-essential workers to stay home as the coronavirus escalated around New York.

The deal pencils out to roughly $8,800 per square foot. An anonymous buyer also recently closed on the floor below, another full-floor unit, for $51.4 million.

Vornado announced in a February earnings call that the developer had sold 91 percent of the building’s units to date — despite “a very soft luxury market.” Many of the contracts were signed before the market went south.

Agents are prohibited from conducting in-person showings while Covid-19 continues to pose a threat, but they are allowed to continue to work from their offices — and show properties virtually — as long as social-distancing practices are followed.

Write to Mary Diduch at [email protected]


Related Articles

arrow_forward_ios
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)
Free and clear: Vornado pays off debt at 220 CPS
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
“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
Steve Roth and renderings of 260 11th Avenue (Getty, Profile New York)
Vornado lays out vision for Otis Elevator Building complex
Vornado lays out vision for Otis Elevator Building complex
30 Front Street & 294 Park Place (Streeteasy, Getty)
Brooklyn luxury market can’t shake slump
Brooklyn luxury market can’t shake slump
From left: 74 Wellington and 1 Clinton
Brooklyn luxury contracts bounce back with a bump in bargains
Brooklyn luxury contracts bounce back with a bump in bargains
Extell's Gary Barnett and Central Park Tower (Kidfly182, CC BY-SA 4.0, via Wikimedia Commons, Barnett via Paul Dilakian)
Breaking down Extell’s sky-high ask at Central Park Tower
Breaking down Extell’s sky-high ask at Central Park Tower
Vornado Realty Trust's Steve Roth and 40 Fulton Street (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images, Vornado)
Vornado selling FiDi office building at discount as interest rates rise
Vornado selling FiDi office building at discount as interest rates rise
arrow_forward_ios

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

Loading...