Hedge fund billionaire pays $238million for a 24,000-square-foot penthouse overlooking Central Park

Hedge fund billionaire Ken Griffin has completed the purchase of a penthouse on New York’s Central Park South for $238million – the most ever paid for a home in the United States.

The building, 220 Central Park South, is a residential skyscraper that is currently under construction.

Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed.

The building will stand at 950 feet tall, making it one of the tallest buildings in New York City.

It was designed by Robert A.M. Stern, the award-winning architect whose portfolio includes classically styled New York apartment buildings including 15 Central Park West; Philadelphia’s Museum of the American Revolution and the Comcast Center skyscraper; and two residential colleges at Yale University.

Hedge fund billionaire Ken Griffin (pictured in 2014) has completed the purchase of a penthouse on New York’s Central Park South for $238million - the most ever paid for a home in the United States

Hedge fund billionaire Ken Griffin (pictured in 2014) has completed the purchase of a penthouse on New York’s Central Park South for $238million - the most ever paid for a home in the United States

Hedge fund billionaire Ken Griffin (pictured in 2014) has completed the purchase of a penthouse on New York’s Central Park South for $238million – the most ever paid for a home in the United States

Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet. The building is seen above under construction

Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet. The building is seen above under construction

Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet. The building is seen above under construction

The map above shows the location of 220 Central Park South - which offers unimpeded views of Central Park

The map above shows the location of 220 Central Park South - which offers unimpeded views of Central Park

The map above shows the location of 220 Central Park South – which offers unimpeded views of Central Park

Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet, according to The Wall Street Journal.

So far, only a handful of apartments in the building have been sold, according to Curbed New York.

All of the units that have been sold went for between $12million and $30million.

The $238million price tag breaks the previous record for the biggest closing sale in New York City real estate.

While Griffin’s purchase is the biggest for a home in the U.S., it still lags behind the most expensive home ever sold in the world – a $361million mansion in Hong Kong.

Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed. The image above shows a rendering of the building

Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed. The image above shows a rendering of the building

Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed. The image above shows a rendering of the building

On Tuesday it was learned that the billionaire bachelor bought a luxury home a stone's throw from Buckingham Palace in London. Griffin, the founder and CEO of Chicago-based hedge fund Citadel, snapped up Carlton Garden in St. James's for a record $124million

On Tuesday it was learned that the billionaire bachelor bought a luxury home a stone's throw from Buckingham Palace in London. Griffin, the founder and CEO of Chicago-based hedge fund Citadel, snapped up Carlton Garden in St. James's for a record $124million

On Tuesday it was learned that the billionaire bachelor bought a luxury home a stone’s throw from Buckingham Palace in London. Griffin, the founder and CEO of Chicago-based hedge fund Citadel, snapped up Carlton Garden in St. James’s for a record $124million

The home, which is located in the exclusive neighborhood known as ‘The Peak,’ was purchased by billionaires Yeung Kin-Man and his wife, Lam Wai Ying, according to Mansion Global.

The couple owns a company which sells iPhone screens to Apple. 

How did the billionaire make his money?

Ken Griffin is reportedly worth an eye-watering $9.9 billion, but how did he make his money?

In 1987, while attending Harvard, he first started trading and even stuck a satellite dish to his dorm so he could get real-time stock quotes.

He graduated with a degree in economics in 1989 and went on to start Citadel, a hedge fund, in 1990.

The company expanded rapidly and by 1998 had grown to a team of more than 100 employees.

Griffin quickly became one of the most influential figures in the world of finance and has featured numerous times in the Forbes rich list.

He is a known philanthropist who has donated to his alma mater Harvard, the Robin Hood Foundation and the Bill and Melinda Gates Foundation. 

Michael Dell, the tech billionaire, set the previous record for the biggest acquisition of New York real estate when he paid $100.5million for a penthouse at One57, the 1,005ft-high luxury condominium at 157 West 57th Street.

Both buildings are located a couple of blocks from each other in the area known as Billionaires’ Row – where a cluster of high-end residential skyscrapers tower over the southern tip of Central Park.

One of Dell’s neighbors in One57 is another hedge fund manager, Bill Ackman, who spent $91.5million for a duplex.

This is the second major real estate acquisition by Griffin that has been reported in recent days.

On Tuesday it was learned that the billionaire bachelor bought a luxury home a stone’s throw from Buckingham Palace in London.

Griffin, the founder and CEO of Chicago-based hedge fund Citadel, snapped up the property in one of the country’s most exclusive enclaves for a record $124million. 

Carlton Gardens in St James’s is the latest in a string of homes purchased by father-of-three Griffin, 50, who is worth a reported $9.9billion. 

A spokeswoman for Griffin, 50, told the FT on Tuesday that the billionaire had recently bought the mansion.

The spokesman added: ‘It is an historic property with a spectacular location, extraordinary elegance and stunning gardens. It is truly a unique opportunity to own a home in London.’ 

It is thought the billionaire bachelor even got the 1820s home Grade II-listed home at a $39.2million discount, as for the past two years it has been on the market for $163.5million. 

The house was sold by the luxury property developer Mike Spink, who bought it for $85.7million in 2012. 

In November, Griffin paid a record $58.75m for the top four floors at 9 West Walton Street, known as No. 9 Walton, in Chicago.

The 25,000-square-foot space may require as much as another $20million to finish the build, according to CBS.   

In addition to these lavish purchases, he also set the record for most money paid for a home in 2015 when he put down $60million for a Miami Beach penthouse.

Griffin has also spent some $250million buying up land where he plans to construct a mansion in Palm Beach, Florida.

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