Another 220 Central Park South condo sells for $61.6M

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

TRD New York /
Sep.September 15, 2020 02:00 PM
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.

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.

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.






Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
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”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
421 Broome Street (Google Maps)

Soho penthouse buy sets record despite price chop

Soho penthouse buy sets record despite price chop
Oxford Property Group CEO Adam Mahfouda and (inset) the late Bianka Yankov (Mahfouda courtesy of Propco Holdings, iStock, Linkedin)

Oxford Property Group acquires Spire, expands to nearly 800 agents

Oxford Property Group acquires Spire, expands to nearly 800 agents
Brooklyn’s Sunset Park is in the midst of a severe housing crisis and in desperate need of affordable housing. (Photo by Jim.henderson via Wikipedia)

Sunset Park faces severe affordable housing shortage: report

Sunset Park faces severe affordable housing shortage: report
209 Dean Street and 315 Adelphi Street (Google Maps)

Sprawling Brooklyn townhouses drive week’s priciest deals

Sprawling Brooklyn townhouses drive week’s priciest deals
The number of single-family homes on the market hit historic lows in July, driving prices up (iStock)

US housing supply reaches nearly 40-year low

US housing supply reaches nearly 40-year low
arrow_forward_ios

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

Loading...