Dead Cat Bounce?

David Goldsmith

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Looks like certain Coop prices are continuing to slide.
Aug 23, 2021CLOSED$2,000,000
Oct 18, 2017CLOSED$2,200,000
Aug 30, 2015CLOSED$2,750,000
 

David Goldsmith

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Is the market this hot?
11/22/2021Price increased by 13%$8,950,000 ↑
10/13/2021Listing entered contract$7,950,000
09/23/2021Listed by Corcoran$7,950,000
 

David Goldsmith

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Here is and indicator of how hot the high end of the market is right now:

11/23/2021Listing entered contract$19,900,000
11/16/2021Listed by Compass$19,900,000
04/01/2020Corcoran Listing sold$17,500,000
02/12/2020Previous Sale recorded$16,300,000
10/07/2019Previously Listed by Corcoran$17,500,000
05/31/2019Compass Listing sold$18,250,000
02/07/2019Previously Listed by Compass$18,250,000
01/03/2017Previous Sale recorded$0
09/22/2016Previous Sale recorded$16,852,122
SEE LESS
 

David Goldsmith

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I think it's more that the two buildings share something:
Being known as the "it building" of a moment in time. Out of the box a good number of high profile buyers came on board. Most notably Sting in both buildings. We saw what happened when that wore off at Limestone Jesus. Will the same thing happen at the "curated" Chateau de Roth after he doesn't get to hand pick the buyers on resale? Only the future will tell.
Seems like another celebrity building with a bunch of recent turnover, especially for penthouses, and at elevated numbers. With the celebs exiting will it affect the bloom on this rose in the future?
 

David Goldsmith

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Original Sponsor Offering

First sale
08/29/2018Previous Sale recorded$4,938,512

Recent activity
01/11/2022Listed by SERHANT$3,750,000
Price decreased by 25%$3,750,000 ↓
01/03/2022Off market temporarily$4,995,000
10/12/2021Listed by SERHANT$4,995,000

Now calling for best and final offers by 1/17/2021.
 

David Goldsmith

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Now that's a bounce.

Billionaire Daniel Och flips 220 CPS sky palace for $190M​


Hedge fund billionaire Dan Och just doubled his money -- by selling his penthouse at 220 Central Park South for close to $190 million.
Hedge fund billionaire Dan Och just doubled his money -- by selling his penthouse at 220 Central Park South for close to $190 million.
HGTV house flippers have nothing on this guy.
Hedge fund billionaire Dan Och just doubled his money in one of the biggest residential deals in New York history, the Wall Street Journal first reported.

The Och-Ziff Capital Management founder has sold his penthouse at 220 Central Park South for close to $190 million to mystery buyers —that’s almost double the $93 million he paid in 2019. He paid an additional $2 million for a one-bedroom unit on a lower floor, although it’s unclear whether or not the small unit was included in the sale.

The sprawling four-bedroom property is more than 9,800 square feet and comes with stunning views.
“It’s in turn-key condition,” an inside source told Gimme.

220 Central Park South is the wealthiest condo tower in city history.Robert A.M. Stern Architects
The limestone clad building is has been one of the most successful new construction efforts in city history — a sort of 2.0 version of 15 Central Park West. Robert A.M. Stern once told Gimme that both buildings —220 and 15CPW — are part of the same family.
“They belong to a family of forms, but like in any family, each child is a little bit different,” Stern said.
Och still has a residence at 15 CPW, which he had put on the market for $57.5 million in 2019, the year he bought at 220 and moved to Florida for tax purposes. It is no longer on the market.

220 Central Park South is almost sold out and has already completed more than $1 billion in sales.
Buyers include Chicago hedge funder Ken Griffin, founder and CEO of Citadel, who already paid $238 million for multiple units in the middle of the building in 2019 — that price is still a record for a residential property in the U.S.
Griffin then paid an additional $3.9 million for two more units on the building’s 20th floor later that year. Combining the units is a long term project that is far from completion, sources say, leading some to speculate that Griffin was the buyer of Och’s penthouse.
Ken Griffin set a national sales record when he paid $238 million for units in the building.TNS

However, a Griffin spokesperson told the Post that he is not the buyer — though Griffin has been on quite the residential spending spree in recent years. buying up $875 million worth of homes in places like New York, Palm Beach and London.
His most recent purchase was a $75 million estate at 8 Star Island — which was a Miami record.
Other boldface names in the building include the musician Sting and his wife, Trudie Styler — who were also former residents at 15 CPW. Joseph Tsai, the owner of the Brooklyn Nets and the co-founder of e-commerce site Alibaba, paid $157.5 million for a two unit combo at 220 CPS.
The building boasts interiors by Thierry Despont. Amenities include private dining rooms, a gym, juice bar, library, basketball court — and top notch security.
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David Goldsmith

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01/10/2022Price decreased by 8%$9,000,000 ↓
11/04/2021Price decreased by 9%$9,800,000 ↓
09/30/2021Listed by Engel & Völkers New York Real Estate$10,800,000
04/15/2021Off market temporarily Last priced at $9,750,000$9,750,000
12/17/2020Previously Listed by Engel & Völkers New York Real Estate$11,995,000
10/03/2018Douglas Elliman Listing sold$13,500,000
Previous Sale recorded$12,500,000
07/18/2018Previously Listed by Douglas Elliman$13,500,000
08/07/2017Corcoran Listing is no longer available on StreetEasy$17,250,000
06/16/2017Previously Listed by Corcoran$17,250,000
04/30/2008Brown Harris Stevens Listing sold Last priced at $6,500,000$6,500,000
Previous Sale recorded$6,100,000
10/26/2007Previously Listed by Brown Harris Stevens$5,995,000
10/18/2007Douglas Elliman Listing is no longer available on StreetEasy$6,499,000
06/21/2007Previously Listed by Douglas Elliman$6,499,000
06/19/2007Douglas Elliman Listing is no longer available on StreetEasy Last priced at $6,499,000$6,499,000
11/01/2005Previously Listed by Douglas Elliman$10,260,000
03/18/2004Previous Sale recorded$3,411,137
 
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