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Yardeni scores $12M profit on 220 CPS sale

Unit 37B in Vornado property closed for $33.8M

A photo illustration of Ofer Yardeni and 220 Central Park South (Getty, Jim.henderson, CC BY-SA 4.0 - via Wikimedia Commons)
A photo illustration of Ofer Yardeni and 220 Central Park South (Getty, Jim.henderson, CC BY-SA 4.0 - via Wikimedia Commons)
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Feb 27, 2023, 3:50 PM

UPDATED Feb. 27, 8:00 p.m. Real estate executive Ofer Yardeni turned a $12 million profit on his 220 Central Park South condo.

The CEO and chairman of Stonehenge NYC sold his 37th-floor unit to an unknown buyer for $33.8 million, according to property records. The price in the off-market deal is around $11 million more than the unit traded for in 2019.  

The Modlin Group’s Adam Modlin had the listing. The broker previously listed the unit as a rental in February 2022 with an asking monthly price of $75,000. Modlin pulled the listing from the market in November.

The condo, which sold for $11,100 per square foot, has three bedrooms and three bathrooms with sweeping views of Manhattan and Central Park. 

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The Billionaire’s Row tower came to be known as the world’s most profitable condo after the 66-story building raked in $1 billion in profits by the end of 2020, saving developer Vornado Realty Trust from a year fraught with financial losses.

The supertall holds the record for the priciest residential deal in the United States: a 23,000-square-foot quadplex purchased by hedge fund titan Ken Griffin for $240 million. 

It has attracted a slate of other notable buyers, including Sting and Trudy Styler who bought a $66 million penthouse in 2019. Billionaire investor Daniel Och sold his penthouse to Joe Tsai last January for $188 million, almost doubling what he paid for the unit. 

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Designed by Robert Stern, the limestone tower includes 118 units and an 18-story villa fronting Central Park. The building features interiors by Thierry W. Despont, a resident-only restaurant by Jean-Georges Vongerichten, landscaped outdoor terraces and fitness center.