A $190M megadeal at 220 Central Park South

Hedge fund titan doubles his money on 2019 purchase

New York /
Jan.January 13, 2022 03:17 PM

Billionaire investor Daniel Och and 200 Central Park South (Wikipedia, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)

UPDATED, Jan. 14, 9:30 a.m. — In one of New York’s most expensive deals to date, billionaire investor Daniel Och has reportedly sold his penthouse at 220 Central Park South for nearly $190 million.

In doing so, Och has just about doubled what he paid for the unit over two years ago, the Wall Street Journal first reported, citing people familiar with the transaction.

In 2019, Och paid roughly $93 million for the apartment plus approximately $2 million for a one-bedroom unit on a lower floor, according to the Journal.

The penthouse has four bedrooms and spans approximately 9,800 square feet. The unit was not listed and the Journal could not confirm the buyer’s identity.

Deborah Kern from The Corcoran Group represented Daniel Och in the deal.

Och, the founder of Och-Ziff Capital Management, also owns a penthouse at 15 Central Park West. He reportedly listed the unit for $57.5 million in 2019, but he took it off the market five months ago.

The investor has since relocated to Florida for tax purposes, the Journal noted.

News of the record sale at 220 Central Park South comes after a string of sizable deals in the Vornado Realty Trust building.

Last year, Joseph Tsai, the co-founder of Alibaba and the owner of the Brooklyn Nets, paid $157.5 million for two apartments in the building. In 2019, hedge funder Ken Griffin paid about $238 million for an apartment, setting a record for the most expensive home sale in the U.S.

Even in the wake of the pandemic, 220 Central Park South remained profitable by inking eight-figure deals and snagging big-name buyers. The condo tower brought in enough funds to keep Vornado in the black, even while its retail and office portfolio has struggled.

The developer notched a milestone in December, crossing more than three billion dollars in sales at the building when Robert Grossman, the dean of New York University’s Grossman School of Medicine, snapped up a $14.5 million apartment.

The building was designed by Robert A.M. Stern Architects, with interiors by French designer Thierry W. Despont. Among its amenities are private dining rooms, an fitness club, a juice bar, a library, a basketball court, a golf simulator and a children’s play area.

This story has been updated to reflect Kern’s role in representing Och in the transaction. 

[WSJ] — Sasha Jones





    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
    Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
    Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
    Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
    Vornado's Steven Roth and Donald Trump with 1290 Sixth Avenue (Getty, VNO)
    Vornado, Trump top Manhattan’s largest loans in November
    Vornado, Trump top Manhattan’s largest loans in November
    Top doc’s condo deal tips Vornado’s 220 Central Park South past $3B
    Top doc’s condo deal tips Vornado’s 220 Central Park South past $3B
    Top doc’s condo deal tips Vornado’s 220 Central Park South past $3B
    2 East 88th Street, 220 Central Park South, Central Park Tower & 15 Central Park West (Wikipedia, Central Park Tower, City Realty, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    In a banner year for NYC’s luxury market, these 10 priciest sales led the way
    In a banner year for NYC’s luxury market, these 10 priciest sales led the way
    Here are the top five largest project plans in NYC in 2021
    These were the five largest development plans filed in NYC in 2021
    These were the five largest development plans filed in NYC in 2021
    arrow_forward_ios

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

    Loading...