Ken Griffin buys most expensive home ever sold in U.S. for $238 million

By Megan Cerullo

/ MoneyWatch

Massive wealth gap grows bigger, report says

Billionaire hedge fund manager Ken Griffin bought the priciest home ever sold in the U.S. when he closed on a $238 million New York City penthouse, The Wall Street Journal reported Wednesday.

The record-setting property purchase, located in an apartment tower at 220 Central Park South that is still under construction, is the latest in a series of monster residential property acquisitions for the Citadel founder.

Earlier this year, Griffin spent $58.75 million on a multi-level Chicago residence, and in 2015 he purchased a $60 million condo in Miami Beach. He owns nearly $250 million worth of land in Palm Beach, Fla., and earlier this month bought a $122 million residence in London, according to The Wall Street Journal.

The previous record for a home sale in the US was set in 2014, when hedge-fund manager Barry Rosenstein spent $137 million on a house in the Hamptons on the east end of Long Island, New York, according to the report.

The unit in 220 Central Park South, built by Vornado Realty Trust and designed by Robert A.M Stern Architects, is approximately 24,000 square feet — or about $10,000 per square foot — and will be delivered to Griffin as a "white box," the media outlet reported. (Other units in the building were designed by Thierry W. Despont.) It offers sweeping views of Central Park and boasts amenities including private dining rooms, an athletic club, juice bar, squash court and golf simulator.

Buyers need more than just cash to snatch up a unit in the luxury condominium tower. Vornado CEO Steven Roth is reportedly "hand-picking the buyers in his building," broker Jacky Teplitzky told The Real Deal.

First published on January 23, 2019

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