In the final month of 2019 the New York City a newly-constructed duplex penthouse in a building affectionately known as the “billionaire bunker” – but is more formally known as 220 Central Park South – sold for what was then considered an absolutely fantastical amount of money.
The official closing price recorded on the property’s deed?
For simplicity’s sake, let’s call it an even $93 million.
The official closing date listed on the deed was 12/05/2019. Fast forward 770 days and the property has sold again.
The amount it just sold for?
That’s a $97 million profit to own a property for two years and one month. The seller, hedge fund billionaire Daniel Och, essentially made $3.9 million per month to own the unit. That’s like getting paid $126,000 every single day for two years… to own an amazing luxury penthouse in New York City!
Daniel Och’s soon-to-be-former NYC condo is a duplex penthouse that features four bedrooms spanning nearly 10,000 square-feet of living space spread over the building’s 73rd and 74th floors. The unit also has an 800-square-foot private outdoor terrace.
The identity of the buyer who just paid Daniel Och $190 million is not yet known and the sale was off-market so there aren’t any photos or videos of the unit.
220 Central Park South was acquired by a real estate development firm called Vornado Realty Trust in 2005. Vornado spent the next seven years fighting with neighbors, preservationists and former residents for the right to demolish the previous building which had stood since 1954. Vornado won the battle in 2012 and in 2015 began construction on what ultimately became a total of 118 apartments.
Below is a video tour of 220 Central Park South Apartment 39A. As you watch this video, note that Daniel Och’s unit is three times larger, spans TWO floors and has that 800 square-foot private terrace:
The building has a private athletic club, a basketball court, library, elite childcare center and a golf simulator.
The building’s first unit sold in October 2018 for $16.4 million.
If you don’t have the money to buy a unit at 220 Central Park South, there are some available for rent. On the low-end, the current rentals go for $59,000 per month. On the high-end, you’re looking at $90,000 per month!
About a year before Daniel’s penthouse purchase, a different billionaire hedge fund manager – Ken Griffin – paid $238 million for the building’s top four floors. This purchase still currently stands as the most-expensive home sale in US history. Griffin recently denied being the buyer of Och’s unit. Both Griffin and Och have been busy lately buying property in Florida, where they have both relocated to for tax purposes. Just a few weeks ago Griffin finalized the $75 million purchase of a mansion on Miami’s Star Island which set the record for most-expensive home sold in Miami history.
But imagine if Ken Griffin is the buyer of Daniel’s duplex… That would mean Ken Griffin has spent $428 million assembling a six-unit penthouse complex that spans at least four floors and approximately 20-30,000 square-feet of living space. It would be a truly mind-boggling apartment.