At 220 CPS, buyer joins $100M club
Luxe pad traded for $10,204 psf
New York City’s $100 million club has a new member.
An unknown buyer just shelled out that amount for a four-bedroom penthouse at 220 Central Park South, the Wall Street Journal reported. The deal is the third in New York City to top nine figures.
Earlier this year, hedge funder Ken Griffin paid a record $238 million for the top penthouse at 220 Central Park South. In 2014, Michael Dell paid $100.47 million for a penthouse at One57.
At 9,800 square feet, the latest unit traded for $10,204 per foot. The median sale price in Manhattan’s luxury market was $4.8 million during the third quarter, down 17.3 percent year-over-year, according to appraisal firm Miller Samuel.
The deal is the latest in a string of high-priced closings at Vornado Realty Trust’s 220 CPS. Most of the deals likely went into contract before the market softened. A recent analysis by The Real Deal shows that the median time between contract and closing a unit at the luxury tower was nearly three years. The buyer of unit 49A, for example, waited almost five years before closing on a $64 million condo.
Some of 220 CPS’ famous buyers include Sting, who paid $65.7 million for a penthouse, as well as Daniel Och of Och-Ziff Capital Management and David Mandelbaum, a Vikings owner and early backer of Vornado’s Steve Roth. [WSJ] — Sylvia Varnham O’Regan