Ken Griffin

Midtown, New Developments

Rendering of MoMA renovation Via Diller Scofidio + Renfro

Just this week, it came to light that the Metropolitan Museum of Art may lay off as many as 100 employees as part of efforts to cut its $30 million deficit. As the New York Times previously explored, the struggling state of the Met exemplifies a shift in the art world towards modern and contemporary art. And standing as a true testament to this is MoMA’s current financial status.

The midtown museum has already raised $650 million towards its fundraising campaign, far exceeding the $450 million needed for its planned renovation and addition of three new gallery floors. In addition, they’ll also sell $280 million of tax-exempt bonds “to raise money for the project and refinance debt as borrowing costs drop to the lowest on record,” reports Crain’s.

More details ahead

Central Park South, Midtown, Recent Sales

220 central park south, robert am stern, billionaire's row

We first got wind of the potentially record-setting penthouse listing at 220 Central Park South back in March, when it was reported that the unit could sell for between $150 and $175 million. In June, sources said that a Qatari billionaire was looking to combine multiple apartments in the Robert A.M. Stern-designed building to create a $250 million mega-penthouse. Then last month, the Post speculated that another high-profile buyer was Ken Griffin, the billionaire hedge fun tycoon who is currently in the midst of a messy divorce from wife Anne Dias-Griffin (she’s asking for $1 million a month in child support). Now the paper reveals that it’s Griffin who’s looking to snatch up the $200 million+ penthouse in what’s being called the “billionaire’s bunker.”

More details this way

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