Ken Griffin buys costliest American home for a whopping USD 238MNews 20th Jun 2019 120 0
Ken Griffin, the famous hedge fund professional, has bought an amazing penthouse at 220 Central Park South by shelling out a massive amount of USD 238 million as per reports available in the market.
Pegged at a humungous price tag of USD 250 million, it was being speculated since long that Ken Griffin has been considering purchasing the biggest inventory available in this beautiful condominium called 220 Central Park South. The gigantic transaction by the founder of the hedge fund company Citadel has been confirmed now and he has indeed picked up the enormous 23,000-square-foot multiplex. This New York pent house which is spread over the 50th through 53rd floors of the limestone tower has been brought into existence by the rock solid Vornado Realty Trust. The fabulous and charming design is by the extraordinary architects, Robert A.M. Stern.
There are major real estate records that this extraordinary deal has set both in terms of global residential real estate and of course in terms of American real estate. Ken Griffin’s purchase of this fantastic pent house in 220 Central Park South has created a new record and is now officially the costliest home sold in the United States. The previous record for the costliest home sold in United States was credited to Barry Rosenstein from Jana Partners’ who had picked up property in 60 Further Lane in East Hampton in 2014 for a staggering USD 137 million. (Unfortunately it was apparently later around in 2017, listed in the market for sale at around USD 70 million). By the way this deal also replaces the record for the costliest Manhattan residential real estate sale which was owned by Michael Dell by virtue of his purchase of condo at One57 by Extell Development in the year 2015. Michael Dell coughed up close to USD 100.5 for the same.
For the records, the costliest residential real estate deal from the global perspective is the Pollocks Path Estate on The Peak in Hong Kong. This South Asian property was sold for an earth shattering USD 360 million to the rich tech businessman Yeung Kin-man in the first quarter of 2017.
The Ken Griffin - 220 Central Park South deal was initially announced and made public by the Wall Street Journal. This deal is the biggest in a series of big ticket real estate acquisitions by this US hedge fund magnate in recent history. Let us cast a glimpse on the mega property deals that he has been a part of lately:
1. London – Earlier in 2019 Ken Griffin who ranks in the top 200 richest people in the world picked up a Georgian mansion close to Buckingham palace for around GBP 95 million clocking to around USD 122 million approximately. 3 Carlton Gardens is an awesome piece of real estate in central London and it boasts proximity to the Mall and St James’s Park among many other affluent features. Apparently the 3 Carlton Gardens’ deal happens to the most expensive residential real estate deal in UK in the past 8 to 9 years.
2. Chicago – Around 2 years ago Griffin, whose appetite for real estate is obviously big, whipped out around USD 59 million for the top four floors in No. 9 Walton which is a posh condominium development in a prime area of Chicago. These four floors were bought directly from the developer JDL Development.
3. Miami – Around 4 years back in 2015, his purchase of a 25,000 square feet penthouse at Faena House Condo, 87 park in North beach Miami for USD 60 million shattered many real estate records then too.
Meanwhile back to the present date – the 220 Central Park South deal had The Corcoran Group’s Deborah Kern from the developer seller Vornado Realty Trust’s side and the purchaser Ken Griffin had Douglas Elliman’s Tal and Oren Alexander taking care of proceedings on his behalf.
About Vornado Realty Trust
One of the biggest names in New York City’s real estate realms, Vornado Realty Trust is a distinguished real estate developer of office and retail assets and also an owner, manager. A veteran in the real estate industry, it celebrated 50 years on The New York Stock Exchange in the year 2012.Vornado is focussed mainly in the city of New York, United States’ most important real estate market. It also holds top-ranking assets in prime locations in Chicago and San Francisco. Apart from being such a giant in the highly competitive US realty space, Vornado is a front runner in sustainability policy when it comes to real estate. Its burgeoning assets base includes a mind boggling 23 million square feet plus of LEED certified buildings which it owns and manages efficiently. Some of the best industry recognitions have been conferred on Vornado including the Energy Star Partner of the Year Award, Sustained Excellence 2017.
About Robert A.M. Stern Architects
Robert A.M. Stern Architects has been founded by Robert Arthur Morton Stern, a New York based architect, professor, and author. Good things improve with time and in its 49 nine years, Robert A.M. Stern Architects, LLP (also known as RAMSA) has indeed grown constantly and handsomely. A firm of almost 300 world class architects, interior designers and other staff this international architecture firm has an enviable reputation. It’s rich work in residential, commercial, and institutional work across various geographies including Europe, Asia, South America and length & breadth of the United States has enhanced the legacy further. The major virtues that this company practices are attention to details, focus on design and on quality. No wonder they have garnered a lot of international and national clients, multiple awards, recognition for design excellence.
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