Vornado nabs $34M deal at 220 Central Park South

Developer likely closing in on tower’s $3.5B projected sellout

Vornado Closes $34M Deal At 220 CPS
220 Central Park South and Vornado's Steven Roth (Robert A.M. Stern Architects, Getty)

Vornado Realty Trust is two more deals closer to the finish line at its Billionaires’ Row supertall. 

The developer offloaded another two units — a three-bedroom, three-bathroom apartment and a studio — at 220 Central Park South for a combined $34 million in an off-market deal, Crain’s New York first reported. 

With the latest sales in the books, the 117-apartment tower is likely entirely or nearly sold out. A Crain’s analysis found that by the end of the summer in 2022, just 10 of the building’s sponsor units remained available. 

The Corcoran Group’s Deborah Kern handled both sides of the deal.

The pair of condos — unit Nos. 20F and 43B — sold to Protista 220, an entity linked to the New England Patriots. Closing documents list team owner the Kraft Group as the contact, as well as an address for a property developed by the company and neighboring the squad’s home stadium in Massachusetts. 

Unit 43B, which spans about 3,000 square feet, closed for $33 million, up from the $22.5 million asking price listed in the building’s 2015 offering plan. The studio apartment, likely designed as a guest or staff apartment, has one bathroom and spans about 500 square feet. 

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Since sales launched in 2015, the 79-story supertall has raked in some of the city’s — and the nation’s — priciest deals. Hedge funder Ken Griffin broke the record for the most expensive residential deal in the U.S. when he paid $238 million for a 23,000-square-foot quadplex. 

Last year, 220 Central Park South snagged the priciest deal in the city when Units 20E and V-8 closed for $80 million, or $10,000 per square foot. 

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The tower has also notched a number of top-dollar resales, with several apartments trading for more than their sponsor sale prices. In 2022, billionaire investor David Och sold his 9,600-square-foot penthouse for $188 million, which was more than double the $93 million he paid for it two years prior.

The crown jewel in Vornado’s portfolio has a projected sellout of $3.5 billion. The project showed signs of success almost immediately, with $1.1 billion worth of condos selling within just six weeks of launching sales, the developer announced on its first quarter earnings call in 2015. 

This article has been updated to include The Corcoran Group’s Deborah Kern as the broker involved in the deal.

Sheridan Wall