Joe Tsai, co-founder of Alibaba, has been identified as the unidentified buyer of two full-floor apartments in Manhattan’s prestigious 220 Central Park South. This revelation puts an end to yet another real estate enigma.
This is believed to be the third most expensive property ever sold in the United States, fetching a combined US$157.7 million (AU$213.96 million) in two separate transactions. Interestingly, the most expensive item ever sold originated from the same building. Four entire floors were sold for a heftier sum of US$238 million (AU$324.81 million) in 2019, when hedge fund manager Ken Gryphon purchased the property during a massive “spending spree.”
Tsai has established his claim on Levels 60 and 61, whereas Gryphons resides on Levels 51 through 53. The 220 Central Park South tower offers expansive views of the cityscape, most notably of Central Park and midtown Manhattan, as would be anticipated from a nine-figure residence in this exact location. According to reports, the transaction also includes a studio on the 18th floor that is “likely for staff.” Each floor is approximately 6,000 square feet.
In addition to an 82-foot saline pool, fitness centre, squash court, library and screening room, the building features outdoor terraces. However, aside from the aforementioned and the unusual photograph included below, not much else has been revealed about the interiors of 220 Central Park. Money, after all, buys a certain measure of privacy (though obviously not enough to prevent chuds like myself from talking about it).
According to CNBC, the acquisition occurred during a particularly delicate period for Joe Tsai, Co-Founder Jack Ma, and Alibaba as a whole. The Chinese government has recently made it a priority to restrict the data reach and influence of the country’s most prolific technology companies.
Criticism of the regulators has also not been well received, with many believing that Ma “disappeared” after expressing displeasure with the government’s policies. Since October 2020, the value of Alibaba shares (NYSE: BABA) has decreased by approximately 30%. Not that anyone is asking our opinion, but now seems like a good time to cash out, retire securely in the United States, and watch the occasional Brooklyn Nets game (which Tsai currently owns).
Tsai previously stated, “New York is a magnificent city.”
“I have a preference for New York. My first employment after graduating from law school was in New York. Here I met my fiancée. Therefore, New York is my second home.”
Joe Tsai continues to serve as Executive Vice Chairman of Alibaba and is the company’s second-largest shareholder with a net worth eclipsing $10 billion (AU$13.65 billion) at the time of writing.
Below are images of the interior of a 220 Central Park South flat (not Joe Tsai’s actual flat).
