Daniel Och, the founder, chairman and former CEO of worldwide hedge-fund Och-Ziff Capital Administration Group, has bought his penthouse condominium at 220 Central Park South for $190 million. He’s pictured right here in 2018
A billionaire hedge fund proprietor has bought his penthouse condominium overlooking Central Park for $190 million – double what he bought it for simply two years in the past.
Daniel Och, the founder, chairman and former CEO of worldwide hedge fund Och-Ziff Capital Administration Group, bought the four-bedroom condominium at 220 Central Park South on Manhattan’s notorious Billionaire’s Row in 2019 for $95 million. On the time, it was the third priciest residence ever bought within the Massive Apple.
Och had additionally bought a smaller studio residence on a decrease ground of the constructing and had deliberate to hold the expensive pad as a pied-a-terre, the Wall Road Journal reported, utilizing it occasionally when he returned to New York from Florida – the place he relocated for tax functions.
It stays unclear whether or not the smaller residence at 220 Central Park South is included within the sale, however Och nonetheless owns one other penthouse residence at close by 15 Central Park West, which he listed for $57.5 million in 2019. It was taken off the market about 5 months in the past, in keeping with the Journal.
Och is price an estimated $4.7 billion, in keeping with Bloomberg.
He initially made his fortune after founding Och-Ziff Capital Administration, however stepped away in 2019 and has since centered on his household workplace Willoughby Capital, which invests in tech firms.
It stays unclear who’s buying the condominium at 220 Central Park South, whose rich residents embody the musician Sting and Albert Behler, CEO of Paramount Group.
Renderings of the condominium on the 73rd and 74th ground function ground to ceiling home windows
The penthouse options 4 bedrooms, 5 full baths and two half baths
Och had purchased the property in 2019 after transferring to Florida and had hoped to make use of it as a pied-a-terre
The deal comes amid a rich New York actual property increase powered by low borrowing prices and hovering markets for the whole lot from shares to commodities to crypto.
In 2021, at the very least 40 residential properties bought for greater than $50 million, in keeping with knowledge compiled by appraiser Miller Samuel, an roughly 35 p.c enhance over 2020, because the collective fortunes of the world’s 500 richest individuals rose by greater than $1 trillion.
New York featured closely on the record of expensive properties, Bloomberg reported, with Joseph Tsai, co-founder of e-commerce big Alibaba and the proprietor of the Brooklyn Nets, paying $157.5 million for a duplex at 220 Central Park South.
The constructing has set a number of actual property information and nonetheless holds the document for the most costly residence ever bought in the US, which was set again in 2019 when one other hedge fund proprietor, Ken Griffin, paid about $238 million for an residence there.
A parking area on the residential constructing has additionally bought for $750,000.
The big limestone constructing at 220 Central Park South has set a number of actual property information, and nonetheless holds the document for the most costly residence ever bought in the US
A parking area on the massive residential constructing has bought for $750,000
Again in 2019 when one other hedge fund proprietor Ken Griffin paid about $238 million for an residence there
The large constructing at 220 Central Park South has an 18-story villa and a 79-story tower.
It was designed by Robert AM Stern Architects, with inside flats designed by Thierry W. Despont.
Och’s former 9,800-square-foot condominium on the 73rd and 74th flooring of the massive limestone constructing featured 4 bedrooms, 5 full baths and two half loos, together with a 796-square-foot terrace, The New York Occasions reported.
Renderings from the condominium function massive floor-to-ceiling home windows, providing loads of daylight and views of the expansive Central Park down under.
The constructing additionally options an athletic membership, a basketball courtroom, a golf simulator and a youngsters’s play space, in addition to a library, non-public eating rooms and a juice bar.