Private Equity

How 220 Central Park South Became World's Most Profitable Condo

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If not for 220 Central Park South, Vornado Realty Trust’s recent financials would have been a horror show. Vornado, one of New York City’s biggest landlords, recorded a $107 million loss in the third quarter on its prime retail portfolio, once-prized Fifth Avenue and Times Square properties that have been paralyzed by the pandemic. It also took significant hits on the shuttered Hotel Pennsylvania and other investments. But thanks to a flurry of closings at The post The inside story of the world’s most profitable condo appeared first on The Real Deal New York.

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