Daniel Och, the founder, chairman and former CEO of global hedge-fund Och-Ziff Capital Management Group, has sold his penthouse condominium at 220 Central Park South for $190 million. He is pictured here in 2018
A billionaire hedge fund owner has sold his penthouse condominium overlooking Central Park for $190 million – double what he purchased it for just two years ago.
Daniel Och, the founder, chairman and former CEO of global hedge fund Och-Ziff Capital Management Group, purchased the four-bedroom condo at 220 Central Park South on Manhattan’s infamous Billionaire’s Row in 2019 for $95 million. At the time, it was the third priciest apartment ever sold in the Big Apple.
Och had also purchased a smaller studio apartment on a lower floor of the building and had planned to keep the pricey pad as a pied-a-terre, the Wall Street Journal reported, using it on occasion when he returned to New York from Florida – where he relocated for tax purposes.
It remains unclear whether the smaller apartment at 220 Central Park South is included in the sale, but Och still owns another penthouse apartment at nearby 15 Central Park West, which he listed for $57.5 million in 2019. It was taken off the market about five months ago, according to the Journal.
Och is worth an estimated $4.7 billion, according to Bloomberg.
He initially made his fortune after founding Och-Ziff Capital Management, but stepped away in 2019 and has since focused on his family office Willoughby Capital, which invests in tech companies.
It remains unclear who is purchasing the condo at 220 Central Park South, whose wealthy residents include the musician Sting and Albert Behler, CEO of Paramount Group.
Renderings of the condominium on the 73rd and 74th floor feature floor to ceiling windows
The penthouse features four bedrooms, five full baths and two half baths
Och had bought the property in 2019 after moving to Florida and had hoped to use it as a pied-a-terre
The deal comes amid a wealthy New York real estate boom powered by low borrowing costs and soaring markets for everything from stocks to commodities to crypto.
In 2021, at least 40 residential properties sold for more than $50 million, according to data compiled by appraiser Miller Samuel, an approximately 35 percent increase over 2020, as the collective fortunes of the world’s 500 richest people rose by more than $1 trillion.
New York featured heavily on the list of pricey properties, Bloomberg reported, with Joseph Tsai, co-founder of e-commerce giant Alibaba and the owner of the Brooklyn Nets, paying $157.5 million for a duplex at 220 Central Park South.
The building has set multiple real estate records and still holds the record for the most expensive home ever sold in the United States, which was set back in 2019 when another hedge fund owner, Ken Griffin, paid about $238 million for an apartment there.
A parking space at the residential building has also sold for $750,000.
The large limestone building at 220 Central Park South has set multiple real estate records, and still holds the record for the most expensive home ever sold in the United States
A parking space at the large residential building has sold for $750,000
Back in 2019 when another hedge fund owner Ken Griffin paid about $238 million for an apartment there
The massive building at 220 Central Park South has an 18-story villa and a 79-story tower.
It was designed by Robert AM Stern Architects, with interior apartments designed by Thierry W. Despont.
Och’s former 9,800-square-foot condominium on the 73rd and 74th floors of the large limestone building featured four bedrooms, five full baths and two half bathrooms, along with a 796-square-foot terrace, The New York Times reported.
Renderings from the condominium feature large floor-to-ceiling windows, offering plenty of sunlight and views of the expansive Central Park down below.
The building also features an athletic club, a basketball court, a golf simulator and a children’s play area, as well as a library, private dining rooms and a juice bar.