220 Central Park South closes at 23% premium for seller as its first resale

The seller successfully resale 220 Central Park South for the first time. Last month the transaction was and closed on Friday for $33 million i.e $10,277 per square foot. The seller who purchased the three-bedroom unit on the 55th floor for $267 million in 2019 has a 23 percent premium as represented by the sale.

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220 Central Park South

 

According to the resources; 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. 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. Moreover, a Nest Seekers International broker, Jessica Campbell is handling the lists. She said, “after 30 days the deal struck on the market. During that time the 3,211-square-foot apartment generated immense interest.” Adding to this she said, “this trademarks a new criterion in the global ultra-luxury residential real estate market.”

The buyer was Igor Tulchinsky, the founder and the CEO of hedge WorldQuant.

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