Real-Estate

Buyer in $157M Two-Unit Deal is Joe Tsai

Joe Tsai and 220 Central Park South (Getty)

Over a month after the reported $157.5 million purchase of two condo units in Vornado’s 220 Central Park South, the buyer has finally been revealed.

Alibaba co-founder Joe Tsai is the billionaire behind the massive transaction, believed to be the third-largest home purchase in American history, CNBC reported Monday.

The sales — $82.5 million for the 60th floor and $75 million for the 61st — were previously reported in June, prior to the identification of Tsai as the buyer. The 60th floor previously sold for $50.9 million last year, while the 61st floor sold for $51.4 million, according to CNBC.

Tsai’s purchase also included a studio apartment far below, on the 18th floor, which could be used for staff.

Tsai is the executive vice chairman and second-largest shareholder of Chinese tech giant Alibaba, which reported over $250 billion in assets as of May. He is also the owner of the NBA’s Brooklyn Nets and WNBA’s New York Liberty, and operates the Barclays Center in Brooklyn.

220 Central Park South is now the site of two of the three largest home purchases in American history. In 2019, billionaire Ken Griffin purchased four floors in the building for $238 million, thought to be the priciest home ever sold in the U.S.. The tower continues to dominate the New York City luxury market, with the three top condo sales in the city in the first half of 2021 all taking place in the building.

[CNBC] — Holden Walter-Warner

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