Ken Griffin shows how a billionaire goes to a shopping mall.
Just days after purchasing one of the most expensive homes in London, the Citadel founder set a US $ 238 million record at 220 Central Park South.
The apartment of about 24,000 square feet (2,200 square meters) will give him a place to live when working in New York, says a citadel woman. The price makes it America's most expensive home.
"He is definitely a global trophy hunter and he bought what would probably be the first building in New York," said Donna Olshan, chairman of Olshan Realty Inc.
"I don't think the fact that he buys an extraordinary trophy property is talking about the market. It's just what this is doing and you have to look at it once. Hate to the builder for that kind of sale. "
Earlier this month, Griffin paid about £ 95 million ($ 122 million) to a 200-year-old mansion overlooking London's St. James Park approx. half a mile from Buckingham Palace. The 20,000-square-foot building includes a gym, pool and underground extension.
Griffin, 50, began trading convertible bonds from his dorm room at Harvard University. Florida's original Citadel founded in 1990 and has expanded it into a global empire that manages hedge funds and markets. He has accumulated a $ 9.6 billion fortune, according to the Bloomberg Billionaires Index, a ranking of the world's 500 richest people.
Along the way, he bought real estate in New York and Chicago worth more than $ 500 million, not the latest purchase.
Buying in the last few years included $ 30 million in two floors of the Waldorf Astoria hotel in Chicago and a Miami Beach penthouse for $ 60 million. In 2017, Griffin set the record for the most precious Chicago home and paid $ 58.75 million to a four-story penthouse on top of Gold Coast's 9th Walton apartment tower, according to Crains. He also acquired about $ 230 million of property in Palm Beach, Florida, according to Palm Beach Daily News.
In 2009, Griffin paid $ 40 million for an apartment at 820 Fifth Ave, 63rd Street, New York, and bought 12-story unit from Lily Safra, widow of banker Edmond Safra.
Griffin also has a story about breaking records in the art world. In 2016, he purchased works by Jackson Pollock and Willem de Kooning from David Geffen's foundation for about $ 500 million. He is also an active philanthropist who receives more than $ 600 million for educational and cultural reasons, including the Chicago Art Institute, the Whitney Museum of American Art and Harvard University.
Olshan compared luxury properties like Griffin's to the art market, where soaring price tags do not necessarily reflect wider demand.
"It's not a market proxy," Olshan said. "I consider it a once, an anomaly, an extraordinary sale, just as you look at the art market when someone goes out and spends an absurd sum of money – that doesn't necessarily mean it's where the art market goes."
New York's condo tower, just closed, was built by the Vornado Realty Trust, which said in October that it was approaching 85 percent sold, with 26 full floor units in contract. Robert A.M. The Stern-designed project faces south entrance to Central Park, where most of the 118 units offer unobstructed views. The Wall Street Journal previously reported Griffin's purchase.
Citadel has signed a lease to anchor a skyscraper on 425 Park Avenue, eight-tenths of a mile from Griffin's new apartment, not by vertical travel. Office building, developed by L & L Holding Co. and designed by Norman Foster, topped last month. It should be completed by 2020, and Citadel will take about 331,800 square feet on 16 floors, including the penthouse.
The cost of 220 Central Park South property is well over twice the previous record for a Manhattan home construction, which was $ 100.5 million for the One57's penthouse.
This agreement was completed in 2014. The appetite for Manhattan's ultra-modern homes has since fallen. A few blocks away from One57, a buyer bought three apartments near the top of the 96-story tower at 432 Park Ave. for a total of $ 91.1 million. in an agreement that was closed in December 2017. It was a discount of 25 percent from the combined sticker price of 120.8 million. $.
A Vornado spokesman would not comment, like the Corcoran group's Deborah Kern, who represented Vornado. Tal Alexander, who together with his brother Oren represented Griffin, also did not comment.
By a measurement, Griffin did not necessarily exceed his New York apartment.
Because of his size, he probably paid approx. $ 10,000 a square foot. A penthouse at 15 Central Park West sold for $ 88 million or $ 13,000 a square meter in 2012.