Billioniare Joe Tsai outed as buyer of $190M penthouse

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The Hong Kong-based household  steadfast  of Alibaba's Joe Tsai spent a chill  $188 cardinal  for billionaire Daniel Och's penthouse astatine  220 Central Park South. The Hong Kong-based household steadfast of Alibaba's Joe Tsai spent a chill $188 cardinal for billionaire Daniel Och's penthouse astatine 220 Central Park South. M&M'S

Chicago hedge-fund titan Ken Griffin made waves aft shelling retired a record-breaking $238 cardinal for aggregate units wrong the exclusive 220 Central Park South operation successful New York City successful 2019. These days, 1 of his neighbors is giving him a tally for his money.

The Hong Kong-based Blue Pool Capital, an concern advisory steadfast that holds a information of Alibaba Group Holding Ltd. co-founder Joe Tsai and Jack Ma’s fortunes, has been revealed arsenic the caller proprietor of hedge-fund billionaire Dan Och’s penthouse, which sold past week for $188 million.

Bloomberg broke news of Blue Pool’s ownership, adding that the steadfast took retired a $71.5 cardinal 30-year owe done JPMorgan Chase & Co. for the 73rd-floor dispersed and a maid’s country connected a little level.

Tsai, a billionaire, already owns a combo portion   successful  the tony property.Tsai, a billionaire, already owns a $157.5 cardinal combo portion successful the tony property.Bloomberg via Getty Images

Tsai, the enforcement vice president of Alibaba — an e-commerce institution — is nary alien to the Robert A.M. Stern-designed building, which fronts Central Park from its southwest corner. In 2021, he splashed retired $157.5 million full for 2 full-floor units successful abstracted transactions. Those apartments span the 60th and 61st floors.

With this astir caller purchase, Tsai present has his hands connected immoderate $345 cardinal worthy of existent property wrong the tower.

Adding to the purchase’s prominence, it earned Och a important nett connected his resale. Och, present surviving successful Florida for taxation reasons, spent $93 cardinal successful 2019 for the astir 10,000-square-foot, four-bedroom residence — much than doubling his money.

The towering 220 Central Park South is known arsenic  the wealthiest condo operation    successful  New York City history.The towering 220 Central Park South is known arsenic the wealthiest condo operation successful New York City history.

If that important flip wasn’t enough, 1 of the units successful Tsai’s 2021-purchased combo besides earned a beauteous penny. Initially sold successful February 2020 for $51.42 million, Tsai swept snagged that 61st-floor portion for an adjacent $75 million, making for a $23.57 cardinal gain. Between 2017 and 2021, that was the city’s highest-priced flip, according to information provided by StreetEasy.

220 Central Park South, astir sold out, has already surpassed much than $1 cardinal successful sales, and is known arsenic 1 of the city’s astir palmy caller residential developments.

Born successful Taiwan and with Canadian citizenship, Tsai besides owns a 49% involvement successful the Brooklyn Nets hoops team. He’s worthy $7.4 billion.