NYC’s third $100M+ real estate deal closes at 220 Central Park South

Posted On Fri, December 13, 2019 By

Posted On Fri, December 13, 2019 By In Central Park South, real estate trends

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

A penthouse at 220 Central Park South has sold for $100 million to an undisclosed buyer, the Wall Street Journal reports. The Billionaire’s Row transaction is only the third nine-figure deal to close in New York City, following hedge-fund executive Ken Griffin’s whopping $240 million purchase in the same building earlier this year (the most expensive home ever sold in the U.S.) and tech mogul Michael Dell’s $100.47 million penthouse at nearby One57, which closed in 2014.

The apartment in question has four bedrooms and measures about 9,800 square feet. Sources familiar with the deal said the contract was signed a couple of years ago and is closing now as the tower nears completion. This means that the ultra-high price is not indicative of where the market is today. The new mansion tax and a surplus of available luxury condos have contributed to slowing down the high-end real estate market.

Nevertheless, sales have performed well at Robert A.M. Stern’s 220 Central Park South, now the city’s most expensive condo building. Since the first closing a little over a year ago, sales have surpassed the $1 billion mark, and the project’s estimated sell-out was increased from $2,636,417,000 to $3,392,586,000. As 6sqft previously reported, the next priciest unit went to Sting—a $66 million penthouse—while most other sales in the 118-unit tower have fallen in the $13-$35 million range.

[Via Wall Street Journal]

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Neighborhoods : Central Park South

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