Iftar Timings Mar 19 - Ramazan 8

Lahore
LHR
06:14 PM
Karachi
KHI
06:43 PM
Islamabad
ISB
06:19 PM
Peshawar
PWR
06:23 PM
Quetta
QTA
06:43 PM

News

New York apartment sells for 190 million

January 14, 2022 11:34 AM


In one of the priciest sales in New York real estate history, a four-bedroom penthouse apartment overlooking Central Park was purchased for $190 million, the Wall Street Journal reported Thursday.

The seller, scandal-tainted American billionaire Daniel Och, bought the apartment only two years ago for half the price at $93 million, according to the Journal.

The 9,800 square-foot (900 square-meter) apartment, located at 220 Central Park South in the heart of Manhattan, was one of the most expensive sales ever in New York, according to the Journal.

The paper said it went to an anonymous buyer.

A different unit in the same skyscraper was purchased in 2019 by American hedge fund manager Ken Griffin for $238 million -- the highest amount ever paid for a private home in the United States, according to the paper.

Och, 61, has a net worth estimated by Forbes to be around $4.1 billion.

He founded the New York-based investment firm Och-Ziff Capital Management, which changed its name in September 2019 to Sculptor after a bribery scandal in which Och was directly implicated.

The company, which managed $37.5 billion as of last year, paid $413 million in 2016 to settle charges it bribed officials in the Democratic Republic of the Congo, Libya, and other African countries. 

Och was personally involved in the bribery, according to the US Securities and Exchange Commission, authorizing two corrupt transactions in the Democratic Republic of the Congo.

When Och purchased the Central Park penthouse in 2019, he had already changed his state of residence for tax reasons to Florida, but planned to use the New York apartment as his pied-a-terre, the Journal reported.

Och still owns another luxury apartment around the corner, which he listed for $57.5 million in 2019, according to the Journal, but he removed the listing five months ago.



Most Read

  1. Google invites Pakistan’s youngest vlogger Shiraz and sister Muskan to USA Google invites Pakistan’s youngest vlogger Shiraz and sister Muskan to USA
  2. Well-known builder Asif Razaq Deenar arrested at Karachi airport Well-known builder Asif Razaq Deenar arrested at Karachi airport
  3. Islamabad players celebrate victory with Palestine flag Islamabad players celebrate victory with Palestine flag
  4. Ahmed Baig delivers Pakistan's first International Golf Victory in more than 25 years Ahmed Baig delivers Pakistan's first International Golf Victory in more than 25 years
  5. Religious Brotherhood: Tharparkar’s Hindu facilitiates Muslim in Ramazan Religious Brotherhood: Tharparkar’s Hindu facilitiates Muslim in Ramazan
  6. Caught in the act: Corrupt cops fired as video goes viral Caught in the act: Corrupt cops fired as video goes viral

Opinion

  1. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  2. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  3. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  4. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  5. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer

  6. From White Elephant to Success: BRI Project Witnesses Surge in Ridership
    From White Elephant to Success: BRI Project Witnesses Surge in Ridership

    By Ali Ramay