Billionaire Daniel Och doubles profit selling NYC penthouse for $190M
The 4-bedroom property spans about 9,800 square feet
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Billionaire hedge fund manager Daniel Och has reportedly sold his New York City penthouse overlooking Central Park for $190 million, double what he paid for the property in 2019.
The property, located at 220 Central Park South, spans about 9,800 square feet and has a total of four bedrooms. The Wall Street Journal, the first to report the sale, notes that it is one of the most expensive sales ever completed in New York.
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Och reportedly paid $93 million for the penthouse in 2019, which he planned to use as a pied-à-terre, and doled out another $2 million for a separate one-bedroom apartment in the same building on a lower floor, according to the Journal. As of the time of the purchase, Och has relocated to Florida for tax purposes.
Daniel S. Och, chairman and chief executive officer of Och-Ziff Capital Management Group LLC, speaks during the World Economic Forum in Davos, Switzerland, on Friday, Jan. 30, 2009. (Adrian Moser/Bloomberg via Getty Images / Getty Images)
It is unclear who purchased the property and if the smaller apartment was included in the sale. Mr. Och’s agent, Deborah Kern of the Corcoran Group, declined to comment on the properties.
The Och-Ziff Capital Management founder, who has a net worth of $4.1 billion, according to real-time tracking by Forbes, still owns a penthouse nearby at 15 Central Park West, which was listed for $57.5 million in 2019 and has since been taken off the market, the Journal reports.
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220 Central Park South is one of the most expensive addresses in America. In 2019, Citadel CEO Ken Griffin paid $238 million for an apartment in the building.
220 Central Park South (Google Maps / Google Maps)
220 Central Park South (Google Maps / Google Maps)
The property, which is managed by Vornado Realty Trust, is designed by Robert A.M. Stern Architects and Thierry Despont. The classical pre-war design features an Alabama Silver Shadow limestone facade and the building contains private dining rooms, an athletic club and a spa.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| VNO | VORNADO REALTY TRUST | 43.43 | -0.56 | -1.26% |
Vornado Realty Trust did not immediately return FOX Business' request for comment.