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Another Resale at 220 Central Park South Lands in the Record Book

The country’s most expensive residential building, 220 Central Park South in Manhattan, once again proved an extraordinary investment for its …

Another Resale at 220 Central Park South Lands in the Record Book
28.01.2022 19:11
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The country’s most expensive residential building, 220 Central Park South in Manhattan, once again proved an extraordinary investment for its wealthy buyers.

A sprawling duplex reportedly owned by the billionaire investor Daniel Och closed at $188 million in January, more than double the $92.7 million paid for the unit, known as Penthouse 73, a little over a year ago.

The sale was linked to a Hong Kong office established by Joe Tsai and Jack Ma, the founders of the Chinese e-commerce giant Alibaba.

The sale was the second priciest ever for a single residence in New York City, behind the nearly $240 million record purchase of four unfinished floors, also at 220 Central Park South, by the hedge fund manager Kenneth Griffin in early 2019. It was also the second largest home sale nationwide, according to Jonathan J. Miller, a Manhattan real estate appraiser.

Mr. Och joins others in a string of profitable resales (albeit at a smaller scale) at the grand limestone complex, directly across from the park and a block from Columbus Circle. The Central Park South building, Mr. Miller said, “hits all the right notes in the specific location, construction and design in a way that has proved to be appealing on a global scale.”

It was a hectic start to 2022, with several other notable closings.

Joshua Kushner and Karlie Kloss have upgraded to a larger penthouse duplex at the Puck Building in NoLIta.Credit…Jamie Mccarthy/Getty Images
The mixed-use Puck Building, with six loft-style penthouses, was developed by the Kushner Companies.Credit…Nicole Bengiveno/The New York Times

The month’s second largest sale, at just under $47 million, took place at 217 West 57th Street, a.k.a. Central Park Tower. The sponsor unit, No. 125, extends 6,700 square feet and has five bedrooms and five and a half bathrooms, according to the offering plan. It had been listed for almost $66.3 million. The buyer used the trust CPT 125.

In NoLIta, the last of the six loft-style penthouses atop the landmark Puck Building finally closed. The new owners of a large duplex, Joshua Kushner and his wife, the model Karlie Kloss, paid $35 million to the family business and developer, the Kushner Companies. Another duplex, a co-op on the eighth and ninth floors of 1107 Fifth Avenue, at East 92nd Street, also closed at $35 million. It was sold by Richard A. Eisner, a founding member of an accounting firm now known as EisnerAmper, and his wife, Carole Amper.

In other January transactions downtown, the pop star Justin Timberlake and the actor Jessica Biel sold their penthouse at 443 Greenwich Street in TriBeCa. Mary L. Trump, a niece of the former president and the author of a scathing book about him and the Trump family, bought a SoHo apartment. The TV journalist Soledad O’Brien and her investment banker husband, Brad Raymond, who recently moved to Harlem, found a buyer for their former Chelsea home.

Also, Vicki Been, a former deputy mayor in New York City, and her husband, Richard Revesz, sold their West Village townhouse.

On the Upper West Side, Andrew P. Napolitano, a syndicated columnist and former Fox legal analyst and superior court judge, sold his apartment at Trump International. And at the San Remo, there were apartment sales by Peter W. May, a founder of the Triarc Companies, the holding company for Wendy’s, and his wife, Leni May, and by Kevin W. Kennedy, the former president of the Metropolitan Opera, and his wife, Karen Kennedy.

Penthouse 73 encompasses 9,817 square feet on the 73rd and 74th floors of 220 Central Park South. It includes four bedrooms, five full bathrooms and two powder rooms, as well as a 796-square-foot terrace, according to the most recent offering plan by the developer, Vornado Realty Trust.

A 545-square-foot studio “maid’s room” on the 19th floor, bought for $2.1 million at the same time as the duplex, was also included in the deal.

The penthouse was bought through the limited liability company Hennessy Square, which is linked to Blue Pool Capital, a Hong Kong-based asset manager that holds part of the fortunes of Mr. Tsai and Mr. Ma. Public documents show that a $71.5 million, 30-year mortgage was taken out on the property by Blue Pool Capital with JPMorgan Chase.

There was no response for requests for comment from Blue Pool or from Mr. Och, made through Willoughby Capital, the company he started after leaving the hedge fund Och-Ziff Capital.

In other resales at the building, a 3,114-square-foot apartment taking up half of the 38th floor, with three bedrooms and three and a half bathrooms, sold for $32 million. The anonymous seller had paid $22.5 million for the unit almost three years ago. The buyer was identified as NY Liberty Holdings.

The Puck Building apartment, Penthouse I, bought by Mr. Kushner and Ms. Kloss for $35 million, extends 7,241 square feet. There are five bedrooms and seven and a half bathrooms, along with a library, gym, home theater and wine cellar. The 5,158 square feet of outdoor space includes a putting green, hot tub and wet bar.

The Kushner Companies had initially listed the penthouse for $66 million in early 2016, and its most recent asking price was $42.5 million. Adam Modlin, of the Modlin Group, who represented both buyer and seller in the transaction, said the unit had been rented out to a local family “in excess of $100,000 a month” from 2017 to 2021.

Mr. Kushner, who runs the venture capital firm Thrive Capital, with offices in the Puck Building, is the younger brother of Jared Kushner, formerly at the helm of Kushner Companies and President Donald Trump’s son-in-law and former senior adviser. He and Ms. Kloss also own a smaller apartment in the building, Penthouse V, a 5,672-square-foot duplex with four bedrooms and six and a half bathrooms. This unit is currently on the market for $23.5 million, with Mr. Modlin and Nick Gavin of Compass as the listing brokers.

Justin Timberlake and Jessica Biel sold their penthouse at 443 Greenwich Street.Credit…Rodin Eckenroth/Getty Images
The TriBeCa condominium conversion has attracted many celebrity buyers.Credit…Katherine Marks for The New York Times

The apartment at 443 Greenwich, sold by Mr. Timberlake and Ms. Biel for $29 million, has 5,375 square feet on two floors and four bedrooms, four full bathrooms and three powder rooms. There’s also a wraparound terrace on the top level, off a large entertainment room.

The couple, using the limited liability company Just Us 1, made a tidy profit in the off-market sale. They bought the unit brand-new in 2017 for nearly $20.2 million. The new owner was identified as Menemshovitz NY Realty, the same entity that recently sold a SoHo triplex on Broome Street for a record $49 million.

Mr. Timberlake and Ms. Biel, who have a home in Big Sky, Mont., are also selling their home in the Hollywood Hills, in Los Angeles.

The 443 Greenwich building, erected in the late 1800s between Vestry and Desbrosses Streets, once served as a bookbinding warehouse and was converted into condominiums in 2012. It has been home to several celebrities, including the actor Meg Ryan and the Grammy Award-winning musician The Weeknd.

Mary Trump paid $7 million for a new apartment at 565 Broome Street in SoHo, just below the $7.8 million asking price. Her 2,244-square-foot home has three bedrooms and three and a half bathrooms, as well as scenic views of the Hudson River and the Midtown Manhattan skyline.

The twin-towered Broome Street complex, completed in 2019, was designed by Renzo Piano.

Ms. Trump, a psychologist, is the author of “Too Much and Never Enough,” a memoir about the Trump family. Her latest book, “The Reckoning: Our Nation’s Trauma and Finding a Way to Heal,” was published last summer.

Ms. O’Brien and Mr. Raymond got nearly $3.9 million for their loft at 142 West 26th Street. The sale comes about three months after the couple closed on a Harlem penthouse, for which they paid $4.8 million.

The 3,974-square-foot Chelsea apartment, listed for just under $4 million, has four bedrooms and three bathrooms, along with a den, home office and extra-large dressing room connected to the primary bedroom suite.

Ms. O’Brien, a former CNN anchor, is the founder of the Starfish Media Group, a media production company. The buyers were listed as Michael Huang and Jessie Xi Lin Huang.

The townhouse owned by Ms. Been and Mr. Revesz, at 230 West 11th Street, between Waverly Place and West Fourth Street, sold for $18.8 million.

The red brick, Italianate-style structure — 25 feet wide and four stories high, with a classic front stoop — has five bedrooms and five and a half bathrooms. The ample outdoor space includes a terrace off the primary bedroom suite on the third floor and a rear garden off the kitchen and dining area.

Ms. Been served as deputy mayor for housing and economic development and was commissioner of the New York City Department of Housing Preservation and Development under Bill de Blasio. Mr. Revesz is the director of the American Law Institute and is the former dean of the New York University Law School.

The buyer used the limited liability company 230 West 11th Street Residences.

The 44-story Trump International is at 1 Central Park West, on the Upper West Side.Credit…Brittainy Newman/The New York Times
Andrew P. Napolitano, a syndicated columnist and former Fox legal analyst, just sold his apartment there for $6 million.Credit…Richard Drew/Associated Press

And here are the Upper West Side closings. Mr. Napolitano, the former Fox legal analyst and New Jersey judge, sold his two-bedroom, two-and-a-half-bathroom unit at 1 Central Park West, a.k.a. Trump International, for $6 million. The buyer used the limited liability company 1 CPW 40D Holdings.

There were two big transactions — for $21.5 million and $15.5 million — at the San Remo, at 145 Central Park West. Both apartments have park views. Credit…Katherine Marks for The New York Times

The Mays got $15.5 million for their San Remo duplex, at 145 Central Park West. The apartment, with Central Park views, has four bedrooms and five and half bathrooms, and around 5,500 square feet of space. The buyers were Lloyd and Elana Nathan.

Also in the building, the Kennedys sold their apartment, with park views, for $21.5 million. It has around 5,000 square feet and is currently configured with two bedrooms and four and a half bathrooms. Their buyer made the transaction using the 145 Twelve C Trust.

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