Vornado has closed on another blockbuster sale at its Robert Stern-designed 220 Central Park South tower.
AEH Jay Corp., a company linked to one of Hong Kong’s
richest men, paid $61.6 million for unit 69 in the luxury condo.
It is the latest in a series of sales at the tony tower totaling
nearly $200 million that have netted Vornado more than $50 million in profits
since the beginning of the year, according to its second quarter reports.
And it comes as the rest of the Manhattan apartment market
languishes in a COVID stasis.
During the second quarter of 2020 the average sales price of
apartments fell 15 percent on the same time last year while the number of
actual sales dropped 60 percent, according to CityRealty.
220 Central Park South includes an 18-story building called “the Villa” that fronts
Central Park and a 950 ft. tower which are connected via an arcade that
includes a motor court on 58th St.
The exterior features Stern’s favorite Alabama limestone
punctuated with Juliet balconies, set-back terraces, and ornamental metalwork
to give the new building a classic, old New York stature.
The building, at 66 stories, offers grand views of Central
Park.
