Rendering of 220 Central Park South, in gold. A hedge fund billionaire closes on a Central Park apartment, paying more than double the previous record price for a residential sale in New York City. At $238 Million, It’s the Highest-Price Home in the Country. A … Kenneth Griffin, founder of the investment firm Citadel, has added the apartment to his real estate portfolio. The staggering $238 million deal comes in 220 Central Park South, the statuesque Vornado-developed condo that we named the tower-to-beat of 2018. Tom Williams/CQ Roll Call, via Associated Press. It was reported as far back as 2015 that Griffin was in talks to purchase the $238 million mega-residence at 220 CPS, but it looks like the deal is now done, according to the WSJ. (Maybe he’ll Airbnb it?). Rumors about Griffin’s uberpricey penthouse purchase began swirling in 2016, as plans for the building became more concrete. At $238 Million, It’s the Highest-Price Home in the Country A hedge fund billionaire closes on a Central Park apartment, paying more than double the previous record price for a … The record sale says more about the peak of the last housing cycle than it does about the current high-end sales slump, said Jonathan J. Miller, president of the real estate appraisal firm Miller Samuel. 220 Central Park South, a 953-foot-tall luxury multifamily tower that overlooks Manhattan’s Central Park, is the new location of the most expensive home ever sold in the United States. Other rumored residents include Sting and his wife, Trudie Styler. The previous record for the priciest closed sale in the city was held by One57, located a few blocks from 220 Central Park South; Michael Dell, the founder of the eponymous tech company, bought a $100.5 million penthouse there in 2015. Bebeto Matthews/Associated Press/File 2016 Associated Press Just days after buying one of the most expensive residential properties in London, the Citadel founder set a U.S. record with the $238 million penthouse at 220 Central Park South. Mr. Griffin, founder of the investment firm Citadel, is not new to stratospheric real estate sales. The Most Expensive Home Ever Sold In The U.S. Is In 220 Central Park South Hedge-fund manager Ken Griffin lay down $238 million for the penthouse. 220 Central Park South, New York -- Sold in 2019 for $238 million. Homes seeking $4 million or more took an average of 447 days to go into contract in 2018, according to Olshan Realty. The Wall Street Journal first reported the closing. The 118-unit condo building was designed by the illustrious firm of Robert A.M. Stern Architects and bestows all-encompassing views of Central Park. 220 Central Park South --- view of 238 million dollar apartment from the exterior Buying Luxury News. … A penthouse in 220 Central Park South has set a residential sales record. British musician Sting and his wife Trudie Styler, who recently sold a unit at 15 Central Park West, another Robert A.M. Stern tower, are buying a unit in the building. The previous United States record-holder was a $137 million East Hampton home that sold in 2014. The building made headlines in January 2019 when billionaire Ken Griffin shelled out $238 million… The deal reportedly sets a … The nearly 1,000-foot Central Park South tower has proved to be an outlier in an otherwise softening luxury market. The billionaire, Kenneth C. Griffin, spent $238 million for a penthouse at 220 Central Park South that is still under construction, making it the … The luxury residential condominium development includes an 18-story building called “the Villa” that will front Central Park alongside other comparably sized buildings. “It’s been on my list for four years,” said Mr. Miller, who said the unit, first listed for $250 million, went into contract in the fall of 2015. Griffin has closed on the unit in the 79-story residential tower, which is under construction for an estimated cost of $1.4 billion at 220 Central Park South. New York City condo sold for U.S. record $238 million Ken Griffin, billionaire founder of hedge fund Citadel, purchased the unit overlooking Central Park. Hedge fund billionaire Ken Griffin has completed the purchase of a penthouse on New York’s Central Park South for $238million - the most ever … Now that the apartment is nearly finished, how will it size up? The sale dwarfs the previous record-holder in New York City, a $100.5 million duplex sold in 2014 at One57, a nearby high-rise that helped rechristen a sleepy strip of Midtown across 57th Street as “billionaires’ row.”. A record-shattering $238 million purchase of a Manhattan penthouse at 220 Central Park South came at the hands of billionaire and Citadel hedge fund founder Ken Griffin. The final sale price: a whopping $238 million, which gives it the dubious distinction of being the most expensive home ever sold in the United States. 220 Central Park South is a residential skyscraper in Midtown Manhattan in New York City, situated along Billionaires' Row on the south side of Central Park South between Broadway and Seventh Avenue. GEORGE ROSE / GETTY IMAGES www.mansionglobal.com (NEW YORK, NY) — The $238 million Manhattan penthouse is now the most expensive home ever sold in the United States. While it seems unlikely that another purchase will best Griffin’s $238 million investment anytime soon, there are some that could come close, including the rumored $180 million penthouse atop the Crown Building. The sale of the 24,000 square foot apartment makes it the highest-priced home ever sold in the United States. 220 Central Park South is composed of two sections: a 70-story, 950-foot (290 m) tower on 58th Street that is the 17th-tallest building in New York City, and an 18-story section on Central Park South. The sale has not yet hit city records, but a rep for Citadel, the hedge fund that Griffin founded, confirmed the sale to the WSJ. A hedge fund billionaire has purchased a Central Park penthouse apartment for $238 million — the most anyone has ever paid for a home in the United States. New York penthouse sale for $238 million reportedly sets US record. According to the rep, Griffin is seeking “a place to stay when he’s in town” as Citadel expands its New York City presence. In October, Steven Roth, the chief executive of Vornado Trust Realty, said the building was about 85 percent sold. One of Manhattan real estate’s worst-kept secrets is a secret no longer: The Wall Street Journal reports that Ken Griffin, the hedge fund billionaire who’s the richest man in Illinois, has closed on a penthouse at the Robert A.M. Stern-designed 220 Central Park South, a purchase that has long been rumored. The sale, which closed Wednesday, was confirmed by a spokesman for the buyer, Kenneth Griffin. New York's 220 Central Park South, which is still under construction, is now part of history as America’s most expensive home was just sold to billionaire Ken Griffin for $238 million. A Positive Sign for Luxury New York Real Estate: A $55.5 Million Condo Sale The sale at 220 Central Park South is viewed as a shot in the arm to the struggling ultra high-end market. The Citadel founder closed on the $238 million penthouse at 220 Central Park South, so he’ll have a place to stay when he’s working in New York, a Citadel spokeswoman said. Chicago billionaire Ken Griffin, who's been on a home-buying spree, paid $238 million for an under-construction New … Despite the hefty price tag, a sale wouldn’t have secured the most expensive bragging rights for the property; that title goes to the penthouse atop 220 Central Park South, which sold in 2019 for a mind-boggling $238 million. The unit in 220 Central Park South, built by Vornado Realty Trust and designed by Robert A.M Stern Architects, is approximately 24,000 square feet — … Hedge fund billionaire Ken Griffin closed on the apartment under construction at 220 Central Park South, adding this impressive penthouse overlooking Central Park to his comprehensive real-estate portfolio. “That would be the hardest appraisal we’d ever done,” said Mr. Miller — because there's nothing to compare it to. At just under $10,000 per square foot, the sale is certainly in rare company, but less pricey than the $88 million sale of an apartment at 15 Central Park West, which went into contract in 2012 for an eye-watering $13,049 per square foot, said Mr. Miller. Earlier this month, Ken also paid $58.75 million … Still, it is what billionaire Ken Griffin just laid out to buy the penthouse of 220 Central Park South in New York City. And at the current rate of sales, it would take more than six years to sell all the new development in Manhattan, which recently totaled almost 8,000 units, said Mr. Miller. 220 Central Park South has already brought in $1 billion in sales with the largest contributor being Ken Griffin’s $238 million purchase of a four-story, 24,000-square-foot home on … He has spent hundreds of millions on apartments in New York, Chicago, Miami and London. 60 Further Lane, East Hampton, New York -- Sold in 2014 for $137 million. But closings began last fall, shedding some light on who is snapping up apartments in the luxury tower; since then, only a handful of apartments—all in the $12-$30 million range—have officially sold, per city records. [What you need to know to start the day: Get New York Today in your inbox.]. A hedgefunder has just bought the most expensive home in US history — a $238 million four-story condo on Central Park South in a building dubbed the billionaires’ bunker.” Ken Griffin is … Ken Griffin, the Founder and CEO of the global investment firm Citadel, made the record-setting purchase, plunking down $238 million for a 24,000-sf penthouse. The unit, a nearly 24,000-square-foot combination of two apartments, is at the top of 220 Central Park South, an under-construction tower developed by Vornado Trust Realty and designed by the firm of Robert A.M. Stern. 220 Central Park South sits on New York City's most expensive street, where the median sale price is $9.8 million.. The record-breaking sale is for one of 220 Central Park South’s penthouses. Ken Griffin’s purchase of a 220 Central Park South penthouse is a sign of confidence in New York real estate and a type of deal that won’t happen again soon. For $100M, an ‘equestrian estate of the highest caliber’ in Westchester, An incredibly gilded apartment in the Plaza Hotel seeks $45M, Opulent Upper East Side mansion once listed for $114M, now wants $79M, 220 Central Park South dominates NYC’s priciest sales of 2019, For $50M, a lavish spread in one of Fifth Avenue’s most exclusive co-ops, $61M condo is 220 Central Park South’s latest exorbitant closed sale. Rumors of the record-breaking sale have been circulating in real estate circles for years. Mr. Leibovitch’s residence isn’t the most expensive at 220 Central Park South. Overall, the New York luxury market is in the middle of a price correction. But Steven Roth, the head of Vornado Realty Trust, which is developing the building, has kept most details about the project under wraps; he’s also reportedly vetting every resident of the building personally. Near the peak of the market, in 2013, similar homes spent only 172 days on the market. New York’s broker fee ban is on hold until the summer. Hedge fund billionaire Ken Griffin closed on an apartment under construction at 220 Central Park South this week for around $238 million. 50 Blossom Way, Palm Beach, Florida -- … He holds the record for buying the most expensive apartment in Miami, a $60 million sale in 2015 at the Faena House in Miami Beach. Last year he spent $58.75 million on a Chicago penthouse, a record for the city, The Chicago Tribune reported. It’s also close to the top of the list for the priciest home ever sold in the world, though according to the WSJ, a $361 million sale in Hong Kong still bests it. FILE- In this May 26, 2016 file photo, a crane sits atop ongoing construction for a new condominium skyscraper at 220 Central Park South in New York. Sales of this magnitude can take years to close, because the purchase was made while the building was beginning construction, and the buyer probably had significant input on the final layout, he said. That honor is almost certainly going to Ken Griffin, who purchased a $238 million penthouse —also at 220 Central Park South—earlier this year. Yes, you read that right—his 24,000-square-foot penthouse is essentially a $238 million pied-à-terre. In November, Tong Tong Zhao, a founder of a hotel management company based in Shanghai, bought a 27th-floor, 2,394-square-foot two-bedroom in the tower for $13.49 million. It sold to a trust linked to the eldest daughter of Dmitry Rybolovlev, a Russian billionaire who made his fortune in potash fertilizer. A lawsuit against state guidance on tenant broker’s fees has led to a temporary restraining order on the rule. 220 Central Park South is another signature project from master architect Robert A.M. Stern, developed by Vornado Realty Trust. Inside the $250 Million Apartment at 220 Central Park South, Manhattan's Most Expensive Listing Eustacia Huen Contributor Opinions expressed by Forbes Contributors are their own. 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