Ken Griffin pays $45M for Julia Koch’s prestigious Park Avenue co-op
Photo by Deans Charbal via Wikimedia Commons
Billionaire Ken Griffin has added another exclusive address to his real estate portfolio. The Citadel founder bought a palatial co-op at 740 Park Avenue, one of New York City’s most prestigious cooperatives, from fellow billionaire Julia Koch for $45 million, according to the Wall Street Journal. The deal marks one of Manhattan’s most expensive co-op sales on record, as CityRealty noted. Koch purchased the home with her late husband David Koch in 2004 for $17 million and originally listed the property in 2022 for $60 million.
Designed by Rosario Candela and Arthur Loomis Harmon in 1929, the 19-story Art Deco building contains 31 units and has been home to some of the nation’s most high-profile figures. Among its notable residents were Jacqueline Onassis, whose grandfather James T. Lee built the building, and John D. Rockefeller, who lived in a duplex unit similar to that of Onassis.
Considered to be the “grandest floor plan” created by Candela, Griffin’s residence measures about 8,500 square feet. The unit has recently undergone a full renovation by Peter Marino, according to Corcoran.
As CityRealty reported, the $45 million sale is Manhattan’s 16th most expensive co-op sale on record. Notably, NYC’s most expensive co-op title belongs to a combo unit at 4 East 66th Street, which sold in 2022 for $101 million. The buyer? Julia Koch.
Hedge fund magnate Israel Englander paid $71.3 million in 2014 for a duplex at 740 Park Avenue, a record at the time and now the third priciest co-op sale in city history.
The unit adds to Griffin’s growing list of palatial New York City properties. In January 2019, the billionaire closed on a penthouse at Robert A. M. Stern’s 220 Central Park South for $238 million, setting the record for the most expensive home ever sold in the United States.
Less than a year later, Griffin acquired two more units in the same building: apartment 20H for $1.89 million and apartment 20J for $2.06 million.
Griffin’s newest home is close to 350 Park Avenue, a 62-story office tower currently under construction that will be anchored by Citadel. Developed by Vornado Realty Trust and Rudin Management, the project is expected to begin the public review process early this year.
[Listing details: 740 Park Avenue, #4/5-B at CityRealty]
[At The Corcoran Group by Leighton Candler]
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