TOP News

Home & Garden: Daniel Och sells his Central Park penthouse for $190million

8 Classic California Road Trips to Drive in Your Lifetime

  8 Classic California Road Trips to Drive in Your Lifetime Photo by Lisa Corson California’s Highway 1 road trip is one of the most famous in the world partly because of the dramatic scenery of Big Sur. California is, hands down, one of the best places in the world for a road trip. It’s the third largest state in the U.S., and its 164,000 square miles are packed with varied terrain highlighted by some 66 scenic byways. The 865 miles of coast are strewn with pockets of beach and stretches of sheer cliff. Rocky desert landscapes give way to rolling farmlands, and two-lane highways carve through quiet groves of towering sequoias before climbing into the high, rugged peaks of the 352 mountain ranges.

Daniel Och, the founder, chairman and former CEO of global hedge-fund Och-Ziff Capital Management Group, has sold his penthouse condominium at 220 Central Park South for $190 million. He is pictured here in 2018 © Provided by Daily Mail Daniel Och, the founder, chairman and former CEO of global hedge-fund Och-Ziff Capital Management Group, has sold his penthouse condominium at 220 Central Park South for $190 million. He is pictured here in 2018

A billionaire hedge fund owner has sold his penthouse condominium overlooking Central Park for $190 million - double what he purchased it for just two years ago.

Daniel Och, the founder, chairman and former CEO of global hedge fund Och-Ziff Capital Management Group, purchased the four-bedroom condo at 220 Central Park South on Manhattan's infamous Billionaire's Row in 2019 for $95 million. At the time, it was the third priciest apartment ever sold in the Big Apple.

11 regional theme parks that are closer to home but just as fun as the big names

  11 regional theme parks that are closer to home but just as fun as the big names When you are planning a fun theme park vacation, major players like Disney and Universal may be the first to come to mind. But while those are certainly the most popular theme park destinations in the U.S., there are dozens of other really enjoyable theme parks scattered all across the country just waiting to be …Even better, these attractions may be closer to home and, let’s face it, can be less pricey and less complicated than the popular theme park destinations in Central Florida and Southern California.

Och had also purchased a smaller studio apartment on a lower floor of the building and had planned to keep the pricey pad as a pied-a-terre, the Wall Street Journal reported, using it on occasion when he returned to New York from Florida - where he relocated for tax purposes.

It remains unclear whether the smaller apartment at 220 Central Park South is included in the sale, but Och still owns another penthouse apartment at nearby 15 Central Park West, which he listed for $57.5 million in 2019. It was taken off the market about five months ago, according to the Journal.

Och is worth an estimated $4.7 billion, according to Bloomberg.

He initially made his fortune after founding Och-Ziff Capital Management, but stepped away in 2019 and has since focused on his family office Willoughby Capital, which invests in tech companies.

Surprising train facts you probably didn't know

  Surprising train facts you probably didn't know Possibly the greatest mode of travel of all time, railways have been crucial in expanding our ability to travel, helping industries grow and stimulating research in various areas of science and technology. From the fastest, oldest and highest trains to incredible stations and curious train travel titbits, we take a look at some of the most fascinating train facts that might surprise you.

It remains unclear who is purchasing the condo at 220 Central Park South, whose wealthy residents include the musician Sting and Albert Behler, CEO of Paramount Group.

The deal comes amid a wealthy New York real estate boom powered by low borrowing costs and soaring markets for everything from stocks to commodities to crypto.

In 2021, at least 40 residential properties sold for more than $50 million, according to data compiled by appraiser Miller Samuel, an approximately 35 percent increase over 2020, as the collective fortunes of the world's 500 richest people rose by more than $1 trillion.

Hermes designer defends high prices, due to 'years' it will 'last'

  Hermes designer defends high prices, due to 'years' it will 'last' Nadège Vanhée-Cybulski, 43, said the products at Hermès are 'for everyone,' despite the obscenely high prices, adding that she hopes that the bags will be passed down from generation to generation. 'It’s pop,' she told the outlet of the brand. 'It’s strange to say that Hermès is "democratic," but I really believe it is.'Good taste is for everybody. You can say, "OK, I’m buying this piece, and it’s a piece that is going to last." If you divide it by the years that it lasts, it’s actually a very good rate.'The idea of craftsmanship is not just excelling in a technique.

New York featured heavily on the list of pricey properties, Bloomberg reported, with Joseph Tsai, co-founder of e-commerce giant Alibaba and the owner of the Brooklyn Nets, paying $157.5 million for a duplex at 220 Central Park South.

The building has set multiple real estate records and still holds the record for the most expensive home ever sold in the United States, which was set back in 2019 when another hedge fund owner, Ken Griffin, paid about $238 million for an apartment there.

A parking space at the residential building has also sold for $750,000.

The massive building at 220 Central Park South has an 18-story villa and a 79-story tower.

28 Top Things to Do in Utah

  28 Top Things to Do in Utah Natural attractions and otherworldly landscapes make Utah one of the most unique states to explore.Soaring sandstone arches and towering hoodoos make Arches National Park in eastern Utah one of the most striking places in the state. Plus, the snow-capped La Sal Mountains in the distance only add to this area's beauty. If you only have a few hours to explore, drive the 18-mile scenic road (Arches Scenic Drive) to enjoy a brief, but thorough tour of the park. You'll pass Balanced Rock as well as the Windows area, which is home to a large concentration of arches. Luckily, there are plenty of spots to pull over and admire the views.

It was designed by Robert AM Stern Architects, with interior apartments designed by Thierry W. Despont.

Och's former 9,800-square-foot condominium on the 73rd and 74th floors of the large limestone building featured four bedrooms, five full baths and two half bathrooms, along with a 796-square-foot terrace, The New York Times reported.

Renderings from the condominium feature large floor-to-ceiling windows, offering plenty of sunlight and views of the expansive Central Park down below.

The building also features an athletic club, a basketball court, a golf simulator and a children's play area, as well as a library, private dining rooms and a juice bar.

Read more

Daniel Och sells his Central Park penthouse for $190M .
Daniel Och purchased a penthouse condo at 220 Central Park South in 2019 for $95 million and has now sold it for $190 million.

See also