Buyer drops $40M on 220 Central Park South condo

Deal one of three to close at Billionaires’ Row tower in past month

New York /
Aug.August 28, 2020 08:00 AM
220 Central Park South (Google Maps, iStock)

220 Central Park South (Google Maps, iStock)

As Manhattan’s luxury market limps through summer, Vornado Realty Trust’s steady stream of closings at 220 Central Park South is continuing unabated.

An anonymous buyer paid $40.7 million for a unit at the tower at the end of July, property records show. A second unit sold to an anonymous buyer for $30.5 million on Aug. 14.

Both properties went into contract more than a year ago, meaning the prices say more about past markets than today’s. However another recent deal at the tower closed on a much tighter turnaround: A 4,820-square-foot duplex sold this month for $49 million, just six months after going into contract.

All three units are in the “villa” portion of the limestone-clad condominium, a smaller structure that sits in front of the “tower” portion.

The $40.7 million unit — “Villa 7” — spans 4,946 square feet, with four bedrooms and five bathrooms, according to the condo offering plan. That puts its sale price at $8,234 per square foot.

Villa 3, which sold for $30.5 million, is 4,896 square feet — which comes out to $7,148 per square foot.

Vornado is famously tight-lipped about deals at the tower. However, in a February earnings call, its president, Michael Franco, said 91 percent of all units had been sold.

Contacted about the latest deals, a representative for the developer declined to comment.

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


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