Joe Tsai revealed as buyer in $157M 220 Central Park South condo deal

3rd-priciest home purchase in U.S. history occurs in same building where Ken Griffin dropped $238M in 2019

New York /
Jul.July 20, 2021 09:15 AM
Joe Tsai and 220 Central Park South (Getty)

Joe Tsai and 220 Central Park South (Getty)

Over a month after the reported $157.5 million purchase of two condo units in Vornado’s 220 Central Park South, the buyer has finally been revealed.

Alibaba co-founder Joe Tsai is the billionaire behind the massive transaction, believed to be the third-largest home purchase in American history, CNBC reported Monday.

The sales — $82.5 million for the 60th floor and $75 million for the 61st — were previously reported in June, prior to the identification of Tsai as the buyer. The 60th floor previously sold for $50.9 million last year, while the 61st floor sold for $51.4 million, according to CNBC.

Tsai’s purchase also included a studio apartment far below, on the 18th floor, which could be used for staff.

Tsai is the executive vice chairman and second-largest shareholder of Chinese tech giant Alibaba, which reported over $250 billion in assets as of May. He is also the owner of the NBA’s Brooklyn Nets and WNBA’s New York Liberty, and operates the Barclays Center in Brooklyn.

220 Central Park South is now the site of two of the three largest home purchases in American history. In 2019, billionaire Ken Griffin purchased four floors in the building for $238 million, thought to be the priciest home ever sold in the U.S.. The tower continues to dominate the New York City luxury market, with the three top condo sales in the city in the first half of 2021 all taking place in the building.

[CNBC] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)
    Free and clear: Vornado pays off debt at 220 CPS
    Free and clear: Vornado pays off debt at 220 CPS
    Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)
    “Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
    “Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
    Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)
    Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue
    Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue
    From left: Gary Barnett, with One Manhattan Square, Harry Macklow with One Wall Street, Steve Witkoff with One High Line, and Miki Naftali with 1045 Madison Avenue (Getty, One Manhattan Square, One Wall Street, Big Architects, The Benson)
    Over the glut, but now what? Breaking down NYC’s new condo inventory
    Over the glut, but now what? Breaking down NYC’s new condo inventory
    740 Park Avenue and Corcoran broker Francine Crocker (Corcoran, Getty)
    Tower of power: Duplex at 740 Park listed for $26M
    Tower of power: Duplex at 740 Park listed for $26M
    Douglas Elliman’s Kirsten Jordan and 2728 Thomson Avenue in Queens (Corcoran, Douglas Elliman, Getty)
    TRD Pro: Queens’ priciest home sales in the second quarter
    TRD Pro: Queens’ priciest home sales in the second quarter
    Seattle Seahawks receiver and newly-licensed realtor Tyler Lockett along with 812 245th Place Northeast in Sammamish, Washington (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images and Redfin)
    NFL star earns his real estate wings
    NFL star earns his real estate wings
    Toll Brothers' Douglas Yearly and property at Sparks, Nevada (Toll Brothers)
    “Honey, I bought the town:” Buyer ends up with big chunk of subdivision
    “Honey, I bought the town:” Buyer ends up with big chunk of subdivision
    arrow_forward_ios

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

    Loading...