Billionaire sells penthouse for R3bn in one of New York's priciest property deals yet

accreditation
0:00
play article
Subscribers can listen to this article
igh rise towers south of Central Park in New York. The tallest towers are part of Billionaires' Row, a collection of thin, tall residential buildings with high priced luxury apartments. Some of the buildings seen here are Hearst Tower, Random House Tower, 220 Central Park South - where the sale in question was made - Central Park Tower, One57, Carnegie Hall Tower, and Steinway Tower.
igh rise towers south of Central Park in New York. The tallest towers are part of Billionaires' Row, a collection of thin, tall residential buildings with high priced luxury apartments. Some of the buildings seen here are Hearst Tower, Random House Tower, 220 Central Park South - where the sale in question was made - Central Park Tower, One57, Carnegie Hall Tower, and Steinway Tower.
Getty Images

In one of the priciest sales in New York real estate history, a four-bedroom penthouse apartment overlooking Central Park was purchased for $190 million (just under R3 billion), the Wall Street Journal reported Thursday.

The seller, scandal-tainted American billionaire Daniel Och, bought the apartment only two years ago for half the price at $93 million, according to the Journal.

The 900 square-metre apartment, located at 220 Central Park South in the heart of Manhattan, was one of the most expensive sales ever in New York, according to the Journal.

The paper said it went to an anonymous buyer.

A different unit in the same skyscraper was purchased in 2019 by American hedge fund manager Ken Griffin for $238 million — the highest amount ever paid for a private home in the United States, according to the paper.

Och, 61, has a net worth estimated by Forbes to be around $4.1 billion.

He founded the New York-based investment firm Och-Ziff Capital Management, which changed its name in September 2019 to Sculptor after a bribery scandal in which Och was directly implicated.

The company, which managed $37.5 billion as of last year, paid $413 million in 2016 to settle charges it bribed officials in the Democratic Republic of the Congo, Libya, and other African countries.

Och was personally involved in the bribery, according to the US Securities and Exchange Commission, authorising two corrupt transactions in the Democratic Republic of the Congo.

When Och purchased the Central Park penthouse in 2019, he had already changed his state of residence for tax reasons to Florida, but planned to use the New York apartment as his pied-a-terre, the Journal reported.

Och still owns another luxury apartment around the corner, which he listed for $57.5 million in 2019, according to the Journal, but he removed the listing five months ago.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
15.20
+0.8%
Rand - Pound
20.67
+1.0%
Rand - Euro
17.19
+1.1%
Rand - Aus dollar
10.99
+0.6%
Rand - Yen
0.13
+0.7%
Gold
1,838.17
-0.1%
Silver
24.47
+1.3%
Palladium
2,065.50
+3.1%
Platinum
1,042.50
+1.5%
Brent Crude
88.44
+1.1%
Top 40
69,587
+0.1%
All Share
76,233
+0.1%
Resource 10
77,182
+0.2%
Industrial 25
95,831
+0.2%
Financial 15
15,111
-0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot