The first resale at 220 Central Park South was a success for the seller.
The transaction, which was first reported last month, closed on Friday for $33 million, the seller’s full asking price, according to the Wall Street Journal. That works out to $10,277 per square foot.
The sale represents a 23 percent premium for the unknown seller, who purchased the three-bedroom unit on the 55th floor for $26.79 million in 2019.
Early buyers at new developments can sometimes capitalize on momentum at a property and sell their units at a premium to what they originally paid. And Vornado Realty Trust’s 220 Central Park South has seen a flurry of eight-figure deals by big-name buyers despite the city’s soft luxury market.
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Residential
New York
220 Central Park South’s first resale in the works
Residential
New York
Second resale at 220 CPS among last week’s Manhattan luxury deals
Jessica Campbell, a Nest Seekers International broker, handled the listing. She said the deal was struck after 30 days on the market. During that time, she said the 3,211-square-foot apartment generated tremendous interest.
“This trade marks a new criterion in the global ultra luxury residential real estate market,” she said in a statement.
The buyer was Igor Tulchinsky, the founder and CEO of hedge fund WorldQuant, according to the Journal. Celebrity broker Ryan Serhant represented the buyer
Serhant told the publication his client was “a strong believer in the future of New York City.”
There’s a second resale in motion at 220 Central Park on the blockbuster tower’s 36th floor. The 3,000-square-foot unit went into contract this month asking $24.9 million. The unit was listed in September for $26.9 million.