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New York

A $190M megadeal at 220 Central Park South

Hedge fund titan doubles his money on 2019 purchase

UPDATED, Jan. 14, 9:30 a.m. — In one of New York’s most expensive deals to date, billionaire investor Daniel Och has reportedly sold his penthouse at 220 Central Park South for nearly $190 million.

In doing so, Och has just about doubled what he paid for the unit over two years ago, the Wall Street Journal first reported, citing people familiar with the transaction.

In 2019, Och paid roughly $93 million for the apartment plus approximately $2 million for a one-bedroom unit on a lower floor, according to the Journal.

The penthouse has four bedrooms and spans approximately 9,800 square feet. The unit was not listed and the Journal could not confirm the buyer’s identity.

Deborah Kern from The Corcoran Group represented Daniel Och in the deal.

Och, the founder of Och-Ziff Capital Management, also owns a penthouse at 15 Central Park West. He reportedly listed the unit for $57.5 million in 2019, but he took it off the market five months ago.

The investor has since relocated to Florida for tax purposes, the Journal noted.

News of the record sale at 220 Central Park South comes after a string of sizable deals in the Vornado Realty Trust building.

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Last year, Joseph Tsai, the co-founder of Alibaba and the owner of the Brooklyn Nets, paid $157.5 million for two apartments in the building. In 2019, hedge funder Ken Griffin paid about $238 million for an apartment, setting a record for the most expensive home sale in the U.S.

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Even in the wake of the pandemic, 220 Central Park South remained profitable by inking eight-figure deals and snagging big-name buyers. The condo tower brought in enough funds to keep Vornado in the black, even while its retail and office portfolio has struggled.

The developer notched a milestone in December, crossing more than three billion dollars in sales at the building when Robert Grossman, the dean of New York University’s Grossman School of Medicine, snapped up a $14.5 million apartment.

The building was designed by Robert A.M. Stern Architects, with interiors by French designer Thierry W. Despont. Among its amenities are private dining rooms, an fitness club, a juice bar, a library, a basketball court, a golf simulator and a children’s play area.

This story has been updated to reflect Kern’s role in representing Och in the transaction. 

[WSJ] — Sasha Jones

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PenthouseVornado Realty Trust