Canadian billionaire Daryl Katz is taking his hefty real estate purchases bicoastal, picking up a condo at an address that’s no stranger to record prices.
The owner of the Edmonton Oilers paid $36 million for a 54th floor condo at Vornado Realty Trust’s 220 Central Park South, the New York Post reported. He purchased the unit from an undisclosed seller, who bought it from the developer for $26 million.
Details of the transaction are sparse, as it unfolded in an off-market deal. Katz made the deal through a holding company, joining a building that already counts Ken Griffin and Joe Tsai among its uber-wealthy residents.
The Canadian businessman’s purchase comes four years after he closed on Kurt Rappaport’s massive estate in Malibu, paying $85 million for the property and another $21 million for the artwork and furniture. The off-market transaction matched David Geffen’s $85 million home sale to Guggenheim Partners founder Mark Walter for the priciest residential sale in Malibu at the time.
That price tag is more in line with some of the pricier deals at 220 Central Park South, although it still pales in comparison to the property’s biggest deals.
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Ken Griffin, for instance, paid $238 million for a penthouse at the building in 2019, shattering the record for the most expensive home purchase in United States history. Remarkably, that could be considered a discount, as the asking price was $250 million.
More recently, the family office of Joe Tsai was revealed to be the buyer behind a megadeal for Daniel Och’s penthouse. Blue Pool Capital spent $188 million for the 73rd-floor unit, which also ranks among the most pricy in United States residential real estate history.
Katz’s deal comes amid a civil lawsuit that claims Katz paid a teenage dancer $75,000 in exchange for sexual favors. An attorney for Katz has denied the allegations.
The billionaire is the chairman of the Katz Group of Companies. In 2015, he paid $34.5 million for the Art Linkletter estate in Bel Air.
— Holden Walter-Warner