Och Ziff hedge fund founder Daniel Och has just bought one of the most expensive properties in New York, paying $95 million for a 910-square-foot, four-suite apartment with views of Central Park.
According to the Wall Street Journal, Och bought the penthouse at 220 Central Park South along with a ground-floor apartment. Plans are to use the properties as a temporary second home – the manager recently moved to Florida to pay lower taxes.
Not that deals of this scale have never happened in New York: Citadel’s Ken Griffin paid $239 million for an apartment in the same building earlier this year, and Michael Dell paid $100.4 million for a gorgeous home in the 157 West 57th Street.
Designed by Robert A. Stern Architects (and built in 2018), the Och Building is a 70-story skyscraper that has already become an architectural icon: it is the 17th tallest building in New York (see photo above). In the common areas, there are private dining rooms, an athletics club, a cafeteria, a library, a basketball court, as well as a golf simulator, and a wine cellar. Och Ziff
With an estimated net worth of $3.5 billion, Och put his former home at 15 Central Park West up for sale. Pay attention, prospects: He’s asking $57.3 million, and you could find yourself right next to Marcel Telles, who paid just $30 million for an apartment in the same building in 2014.
Och recently resigned from the management firm he founded after allegations of an alleged bribery scheme led to a mass investor flight and an internal crisis at Och-Ziff – which changed its name to Sculptor Capital Management.
The investigation resulted in a fine of more than $412 million — or, as Ochs puts it, four apartments. Today, Och-Ziff has $33 billion under management, up from $50 billion in 2005.