First resale at 220 Central Park South closes at 23% premium for seller

Buyer was hedge fund manager Igor Tulchinsky of WorldQuant

New York /
Apr.April 23, 2021 01:30 PM
Igor Tulchinsky and 220 Central Park South. (Getty, Robert A.M. Stern Architects)

Igor Tulchinsky and 220 Central Park South. (Getty, Robert A.M. Stern Architects)

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.

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.





    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
    A photo illustration of Vishal Garg, chief executive officer, Better.com (Better.com, iStock)
    Better.com CEO returns to role after Zoom layoffs controversy
    Better.com CEO returns to role after Zoom layoffs controversy
    (iStock/Illustration by Steven Dilakian for The Real Deal)
    Black mortgage applicants’ rejection disparity surges
    Black mortgage applicants’ rejection disparity surges
    Redfin CEO Glenn Kelman (Redfin, iStock)
    Service divide at forefront of Redfin discrimination suit
    Service divide at forefront of Redfin discrimination suit
    Park Slope Townhouses Top Brooklyn Luxury Contracts (Corcoran, Compass)
    Park Slope townhouses top Brooklyn’s luxury contracts
    Park Slope townhouses top Brooklyn’s luxury contracts
    Milo Founder and CEO Josip Rupena (iStock, Milo Credit)
    Crypto-rich but can’t buy a home? Now you can
    Crypto-rich but can’t buy a home? Now you can
    arrow_forward_ios

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

    Loading...