Billionaire Joe Tsai is the “mysterious buyer” behind the $ 157 million Manhattan apartment deal

Alibaba Group co-founder and executive vice president, Joe Tsai.

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Alibaba co-founder Joe Tsai is the mysterious buyer behind the $ 157 million apartment deal at Manhattan’s most famous condo tower.

Tsai, also owned by the Brooklyn Nets NBA team, bought two full-floor condo apartments at 220 Central Park South for a total of $ 157.5 million in two transactions, people close to the transaction said. I will. This purchase shows what is considered to be the third most expensive home ever sold in the United States. The most expensive homes ever sold in the United States are in the same building.

On Wednesday, January 23, 2019, the central 220 Central Park South Building is located in New York, USA.

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Tsai purchases span two floors (60th floor and one floor above) and overlook Central Park and Manhattan’s Midtown. The contract also probably includes an 18th floor studio apartment for staff.

Thanks to the purchase of Griffin and good buyers like Sting and Daniel Och, 220 Central Park South continues to skyrocket in value during the pandemic, with over 90% sold out. Both units purchased by Tsai sold above their original selling price. Last year, the 61st floor sold for $ 51.4 million and the 60th floor sold for $ 50.9 million.

A Tsai spokesman did not comment immediately.

Purchases are made at a delicate time for Tsai and Alibaba. Alibaba’s stock has fallen by a third since October, and Chinese authorities are cracking down on the country’s leading tech companies to curb their power and data reach. Jack Ma, co-founder of Tsai’s fellow Alibaba, criticized Chinese regulators, mostly from public life after Beijing abandoned the initial public offering of fintech giant Ant. Withdrew.

Central Park Tower and 220 Central Park South rise above 57th Avenue in New York City on May 16, 2021.

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Tsai continues to be Vice Chairman and Alibaba’s second largest shareholder. According to the Bloomberg Billionaire Index, Tsai is worth about $ 10 billion.

Born in Taiwan, Tsai attended a school in New Jersey, lived in New York in the mid-1990s, and worked as a lawyer and private equity fund executive. After building his fortune in China in Alibaba, he spends time between San Diego and Hong Kong. He has both Canadian and Hong Kong passports.

Tsai bought a minority stake in Brooklyn Nets in 2017 and the rest of the team in 2019 with control of the Barclays Center for a total of over $ 3 billion. Tsai also belongs to the NBA China Board of Directors and owns the WNBA’s New York Liberty.

Tsai told the New York Post that he often participated in Netz games and will become more prominent in New York after buying the team. “New York is a wonderful city. I am familiar with New York. My first job after law school was New York. I met my wife here. So New York is my second to me. Home. “

Now he will have an even bigger home for his second home.

Billionaire Joe Tsai is the “mysterious buyer” behind the $ 157 million Manhattan apartment deal

Source link Billionaire Joe Tsai is the “mysterious buyer” behind the $ 157 million Manhattan apartment deal

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