A former Hudson Valley business executive sold a unit at Vornado Realty Trust’s 220 Central Park South for 35 percent more than what it cost four years ago.
A trust tied to Hudson Valley Lighting Group founder David Littman sold Unit 45A at the Billionaires Row tower for $75 million, Crain’s reported. That’s only slightly below the $76 million contract inked between the seller and anonymous buyer in May. The buyer also signed a deal at that time to buy a one-bedroom unit on another floor for $4.5 million.
The three-bedroom unit at the Midtown supertall last sold in 2019 for $55.5 million, 35 percent less than its latest deal. The recent sale of the 6,600-square-foot unit works out to more than $11,000 per square foot.
The closing took place on Oct. 12. Compass’ Elizabeth Sahlman held the off-market listing. The buyer, represented by Corcoran’s Deborah Kern, assumed the seller’s $38 million mortgage from Bank of America while adding a new $14 million mortgage from the same lender.
The five-bedroom, full-floor unit has six bathrooms and two powder rooms, according to marketing materials distributed by Sahlman. The primary suite has two bedrooms and two bathrooms, across a living room from the other bedrooms, a kitchen and a dining room. Floor plans obtained by The Real Deal also show a wine room, library and two balconies.
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Closings at Steven Roth’s 118-unit tower began in 2018. It was projected to have a sellout of $3.4 billion at the time and became the world’s most profitable condo after hitting $1 billion in profits by the end of 2020. The priciest residential sale in the history of the country unfolded at the building in 2018 when Ken Griffin bought a quadplex for $238 million.
Resales have also proven lucrative at the tower. Last year, billionaire investor Daniel Och sold his 73rd floor penthouse for $188 million, more than doubling the $93 million he paid for the 9,600-square-foot unit in 2019.
— Holden Walter-Warner