The media mogul bought the 6,600-square-foot unit in 2023 for $75 million, and has clinched a healthy profit in an off-market deal. He also owns a smaller unit within the building.
Turn up the volume on your real estate success at Inman On Tour: Nashville! Connect with industry trailblazers and top-tier speakers to gain insights, cutting-edge strategies, and invaluable connections. Elevate your business and achieve your boldest goals — all with Music City magic. Register now.
Media mogul Byron Allen has sold a Manhattan condo unit that he bought in 2023 for a profit of about $7.5 million.
Allen bought the full-floor unit at 220 Central Park South for $75 million in 2023 and sold it off-market for $82.5 million, The Wall Street Journal reported.
The tower, designed by Robert A.M. Stern Architects, has a knack for attracting wealthy buyers and breaking records. Citadel CEO Ken Griffin tallied the most expensive residential sale in the U.S. at the building in 2019 for $238 million, and Alibaba cofounder and Brooklyn Nets owner Joseph Tsai netted the priciest sale of 2021 at the building for $157 million.
The luxury unit spans about 6,600 square feet and includes five bedrooms, according to records. Corcoran Group repped both sides of the sale.
Allen began his career as a comedian and then founded Entertainment Studios/Allen Media Group, one of the largest privately held media companies in the U.S., which owns 12 cable networks, about 70 TV shows and about 30 ABC, NBC, CBS and Fox affiliates across the U.S. His company also owns the Weather Channel.
Allen is also a seasoned luxury real estate investor, dabbling in markets across the country. In 2022, he purchased an oceanfront property for $100 million in Malibu and sold an Aspen property in 2024 for $60 million (more than double what he bought it for). The media mogul also owns properties in Beverly Hills and Hawaii, as well as a smaller unit in 220 Central Park South.
The luxury tower in Manhattan faces Central Park and features a limestone façade. Amenities includes a garage, wine cellar, 82-foot saltwater pool, athletic club, library, spa, basketball court, children’s play area and private restaurant.
Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly deep dive into the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.
Email Lillian Dickerson
Credit: Source link
