Mystery Buyer of $70M Pen­t­house at 520 Park Av­enue Revealed

The Jewish Voice - - NEW YORK - By: Hellen Zaboulani

In June, the Wall Street Jour­nal re­ported that two of prici­est apart­ments at 520 Park Av­enue were un­der con­tract. The ask­ing prices for the lofts were ap­prox­i­mately $73 mil­lion and $83 mil­lion. Who the buy­ers were re­mained a mystery. As re­ported by The Real Deal, bil­lion­aire Frank Fer­titta III is the buyer of the $70 mil­lion pen­t­house. The buyer of the $83 mil­lion apart­ment, a six-bed­room du­plex, is yet to be revealed.

Fer­titta is the for­mer owner of the Ul­ti­mate Fight­ing Cham­pi­onship, the world’s lead­ing mixed mar­tial arts or­ga­ni­za­tion. In 2016, he sold Las Ve­gas based UFC for $4 bil­lion to an in­vest­ment group led by WME/ IMG. Along with and his brother, Lorenzo, Fer­titta took pub­lic their casino busi­ness, Red Rock Re­sorts, which was founded by their late fa­ther. Ac­cord­ing to Forbes, the 55-year-old has a net worth of $1.97 bil­lion. The condo unit pur­chased, is a six-bed­room du­plex, span­ning 9,138 square feet, with 279 ad­di­tional square feet of out­door space and Cen­tral Park views.

The 54-story lime­stone con­do­minium tower at 520 Park Av­enue was de­vel­oped by Zeck­endorf De­vel­op­ment, and de­signed by Robert A.M. Stern Ar­chi­tects. The 33-unit build­ing boasts a fit­ness cen­ter with pool, sauna and steam room, ex­er­cise and treat­ment rooms, a sa­lon for so­cial­iz­ing, a gar­den with dec­o­ra­tive foun­tains, and a chil­dren’s play­room. The condo tower has a pro­jected sell­out of $1.25 bil­lion. The build­ing is also list­ing a $130 mil­lion pen­t­house that would be among the most ex­pen­sive apart­ment sales in NYC’s history, if it sells at that price. The num­ber one most ex­pen­sive sale is likely to be a condo which is in con­tract with an ask­ing price of $250 mil­lion, at 220 Cen­tral Park South by Vor­nado Re­alty Trust, as per the NY Post.

In June, the Wall Street Jour­nal re­ported that two of prici­est apart­ments at 520 Park Av­enue were un­der con­tract.

As re­ported by The Real Deal, bil­lion­aire Frank Fer­titta III is the buyer of the $70 mil­lion pen­t­house. The buyer of the $83 mil­lion apart­ment, a sixbed­room du­plex, is yet to be revealed.

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