First resale at 220 Central Park South closes at 23% premium for seller

first_imgJessica Campbell, a Nest Seekers International broker, handled the listing. She said the deal was struck after 30 days on the market. During that time, she said the 3,211-square-foot apartment generated tremendous interest.“This trade marks a new criterion in the global ultra luxury residential real estate market,” she said in a statement.The buyer was Igor Tulchinsky, the founder and CEO of hedge fund WorldQuant, according to the Journal. Celebrity broker Ryan Serhant represented the buyerSerhant told the publication his client was “a strong believer in the future of New York City.”There’s a second resale in motion at 220 Central Park on the blockbuster tower’s 36th floor. The 3,000-square-foot unit went into contract this month asking $24.9 million. The unit was listed in September for $26.9 million.Contact Erin Hudson Full Name* Message* 220 Central Park SouthManhattan Condo MarketNYC Luxury MarketResidential Real Estate Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Share via Shortlink Igor Tulchinsky and 220 Central Park South. (Getty, Robert A.M. Stern Architects)The first resale at 220 Central Park South was a success for the seller.The transaction, which was first reported last month, closed on Friday for $33 million, the seller’s full asking price, according to the Wall Street Journal. That works out to $10,277 per square foot.The sale represents a 23 percent premium for the unknown seller, who purchased the three-bedroom unit on the 55th floor for $26.79 million in 2019.Early buyers at new developments can sometimes capitalize on momentum at a property and sell their units at a premium to what they originally paid. And Vornado Realty Trust’s 220 Central Park South has seen a flurry of eight-figure deals by big-name buyers despite the city’s soft luxury market.ADVERTISEMENTRead moreThe inside story of 220 Central Park South, the world’s most profitable condo220 Central Park South’s first resale in the worksSecond resale at 220 CPS among last week’s Manhattan luxury dealslast_img read more