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Another 220 Central Park South condo sells for $61.6M

Unit on 69th floor is latest high-priced closing at Vornado’s luxury tower

220 Central Park South and Steve Roth (Google Maps, Getty)
220 Central Park South and Steve Roth (Google Maps, Getty)

Vornado Realty Trust’s 220 Central Park South continues to fetch eye-popping prices, providing the firm a cash cow amid a crisis that has punished New York City’s luxury real estate market.

An anonymous buyer closed on a $61.6 million unit on the ultra-exclusive condo’s 69th floor, according to property records. The price — agreed to two years ago — comes out to about $10,380 per square foot.

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The buyer, identified as AEH Jay Corp., went into contract for the property in 2018. The limited liability corporation is linked to Rialto Management Corp., a real estate firm that manages commercial and residential properties as well as individual units “for investors and absent owners,” according to its LinkedIn profile.

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The same LLC also owns a 72nd-floor apartment in the Time Warner Center, purchased in 2013 for $18.8 million, according to property records. In the 220 Central Park South transaction, the buyer was represented by Jeffrey Levin of Squire Patton Boggs.

The full-floor unit is located just a few floors below the penthouses of the condo’s tower portion, according to the building’s offering plan. The nearly 6,000-square-foot apartment has four bedrooms, five bathrooms and two powder rooms, along with three small balconies that overlook Central Park.

During the coronavirus-related slowdown in the luxury market, Vornado has seen several blockbuster closings at 220 Central Park South, including a $100 million deal for one of its penthouses that pulled in a whopping $12,000 per square foot. The deals, most from contracts signed prior to the pandemic, have helped boost Vornado’s liquidity to $3.8 billion.

Big-name buyers in the Central Park-facing condo include hedge funder Ken Griffin, who closed on a massive $238 million apartment in 2019. Others include musician Sting, who purchased a $65.7 million penthouse, and billionaire Daniel Och, who snagged one for $93 million.

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Vornado Realty Trust