Hedge fund billionaire Ken Griffin, founder and CEO of Citadel, has closed on his penthouse at 220 Central Park South for $238 million. The deal represents the most expensive home ever sold in the United States and follows just days after his purchase of 3 Carlton Gardens in London for $122 million.
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Vornado Realty Trust Reveals Richard Rogers-Redesigned 260 Eleventh Avenue
Vornado Realty Trust has revealed their plans to redevelop 260 Eleventh Avenue, a commercial project redesigned by British architect Richard Rogers. The building was originally built in 1911 and currently stands 235,000 SF, though it will be expanded during the renovation.
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Kushner Companies To Buy Final Stake In 666 Fifth Avenue From Vornado For $120 Million
Kushner Companies has reportedly agreed to the purchase of the rest of 666 Fifth Avenue from Vornado Realty Trust for $120 million. Vornado will receive $58 million from the sale, although Steven Roth has said that the deal is conditional and would close in Q3 2018.
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Penn Station to Move Forward with $1.6 Billion Revamp, Construction to Begin with Expected Completion 2020
Penn Station is officially moving forward with a $1.6 billion revamp after reaching a financial deal announced Governor Andrew Cuomo. The project includes redeveloping the James A. Farley Post Office into the Moynihan Train Hall and is a joint venture between Empire State Development, The Related Companies, Vornado and Skanska, who have committed $1.2 billion to the project. The MTA, Port Authority and Amtrak have committed an additional $420 million. The Related Companies, Port Authority and Amtrak will lease and operate 700,000 SF of commercial and retail space. The project will also include a 255,000 SF train hall and a 92-foot skylight to pay homage to the original Penn Station. The new station will be designed by Skidmore, Owings and Merrill. “Fifty years after the loss of the original Penn Station structure, passengers will once again experience a world-class rail hub worthy of New York,” said Governor Cuomo. Construction will start soon with an expected completion in 2020.
"A Few Good Ones Left" at Robert A.M. Stern's 220 Central Park South Including $80 Million Duplex
“We have a few good ones left,” announced Vornado Realty Trust’s chairman Steven Roth of the unit availability at 220 Central Park South in his annual letter to investors. Information on the availability of another unit at the Robert A.M. Stern designed, limestone encassed supertall, comes as an $80 million duplex on the 8th floor. It marks yet another quietly marketed, non publicly-listed unit from 220 Central Park South, being developed by Vornado on what has become known as Billionaire's Row. Vornado chairman Steven Roth has been personally screening prospective buyers. The duplex a 6-bedroom, 7-bathroom layout over close to 7,911 SF with an additional 1,095 SF of outdoor space. The 8th floor duplex is in what is considered the "Villas" part of the building at 220 Central Park South, which is separate from the supertall condo tower and "Penthouse" units. The listing comes in at $10,112 SF.
Other high-profile, utlra-luxe offerings from 220 Central Park include the $250 million, 4-floor, quadriplex which is being looked at by hedge fund billionaire Ken Griffin on the buildings 50-53 floors. The massive unit would come in at around 23,000 SF and and around $10,869 SF. There are two other units in the "Penthouse" collection asking north of $100 million. Penthouse 73, a 9,817 SF unit, is asking $100 million, at $10,186 SF; and Penthouse 76, a 8,978 SF unit which is listed for $108 million, equating to $12,029 SF. 220 Central Park South will ultimately feature 116 units over 69-floors and feature a total sell-out of $3.17 billion.
