220 Central Park South’s First Resale in the Works


Unit 55B Central Park South and Steve Roth of the Vornado Realty Trust.  (Compass, Vornado, Getty)

Unit 55B Central Park South and Steve Roth of the Vornado Realty Trust. (Compass, Vornado, Getty)

An agreement that will serve as a measure of how the values ​​have been maintained 220 Central Park South is on his way.

The owner of the 55B received an offer from an unknown buyer for a 3,211-square-foot three-bedroom apartment, confirmed by Agent Jessica Campbell of Nest Seekers International. If the agreement is concluded, it will be the first resale in the blockbuster of the Vornado Realty Trust building, which holds the record for the sale most expensive house in the country by Citadel founder Ken Griffin.

Jessica Campbell of Nest Seekers International (Nest Seekers)

Jessica Campbell of Nest Seekers International (Nest Seekers)

A dealer disguised as a limited liability company, 220 MARCH, bought the unit on the 55th floor for about $ 26.8 million at the end of 2019. The seller originally signed a contract to buy the unit in April 2015. The resale was launched in early February looking for 33 million dollars.

Campbell declined to comment on the terms of the agreement or the parties, but said the unit was on the market only 30 days before the contract and its seller was “pleased”.

Ryan Serhant represents the buyer in his new brokerage firm Serhant. He declined to comment.

Once the agreement is completed, it will be scrutinized by industry, particularly in the light of the declining resale values ​​of the Billionaires’ Row apartments.

Ryan Serhant of Serhant.  (Ryan Serhant)

Ryan Serhant of Serhant. (Ryan Serhant)

Even before the pandemic, nearly 40 percent of Midtown apartment sales were closed at a loss – the worst of any neighborhood or type of property, according to a city-wide analysis StreetEasy. Now, in the midst of a pandemic and with a lot of new market developments, the country is balanced more difficult if sellers are not willing to accept discounted offers.

“I think many will wonder if there will be another sale the same way that One57 went, with significant discounts on the original contract price,” said appraiser Jonathan Miller. nearby tower where the owners sold the units to significant losses last year.

Donna Olshan, who monitors luxury sales in Manhattan on a weekly basis, said she expected resale prices at the Vornado to be raised due to his much-published records such as the most profitable apartment in the world.

“It’s the tallest building in New York,” she said. “There are always buyers at the highest level of the real estate market.”

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