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Vornado closes out 2019 with another $59M sale at 220 CPS
Buyer took out a $35M mortgage for the buy
The year may be over, but the eye-popping closings at Vornado Realty Trust’s 220 Central Park South are not.
Noble Birch (US) Inc. dropped a little over $59 million for the 48th floor at the ultra-luxury Billionaires’ Row tower — a deal that had been in contract since March 2015, property records filed Monday show.
That price works out to about $8,960 per square foot for the five-bedroom home, though Vornado had been hoping the unit would fetch $64 million, according to a 2016 offering plan.
The buyer also took out a $34.8 million mortgage from JPMorgan Chase to finance the purchase and scooped up a $3.8 million guest/staff condo spanning 917 square feet. Both deals closed Dec. 13, according to property records.
There’s been a series of recent high-end closings, including some in the $60 million range, at the new 70-story development, but a number of those deals had been in the works since 2015. For instance, hedge funder Daniel Och recently closed on his $93 million penthouse, a deal that also had gone into contract more than four years ago.
So far Vornado has sold 62 units for a total of $1.8 billion. Citadel founder Ken Griffin’s almost $240 million purchase at the tower set a new residential record.
Corcoran’s Deborah Kern, who is handling sales at the building, declined to comment.