{"id":118452,"date":"2021-07-20T01:55:19","date_gmt":"2021-07-20T01:55:19","guid":{"rendered":"https:\/\/fin2me.com\/?p=118452"},"modified":"2021-07-20T01:55:19","modified_gmt":"2021-07-20T01:55:19","slug":"billionaire-joe-tsai-is-the-mystery-buyer-behind-157-million-manhattan-apartment-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/billionaire-joe-tsai-is-the-mystery-buyer-behind-157-million-manhattan-apartment-deal\/","title":{"rendered":"Billionaire Joe Tsai is the &quot;mystery buyer&quot; behind $157 million Manhattan apartment deal"},"content":{"rendered":"<ul>\n<li>Alibaba co-founder Joe Tsai is the mystery buyer behind a $157 million apartment deal in Manhattan&#x27;s most prestigious condo tower, according to people familiar with the deal.<\/li>\n<li>Tsai, who also owns the Brooklyn Nets NBA team, purchased two full-floor condo apartments at 220 Central Park South in two transactions totaling $157.5 million, say people close to the transaction.<\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>1060-HK<\/span><\/li>\n<\/ul>\n<p>Alibaba co-founder Joe Tsai is the mystery buyer behind a $157 million apartment deal in Manhattan&#x27;s most prestigious condo tower, according to people familiar with the deal.<\/p>\n<p>Tsai, who also owns the Brooklyn Nets NBA team, purchased two full-floor condo apartments at 220 Central Park South in two transactions totaling $157.5 million, say people close to the transaction. The purchase marks what&#x27;s believed to be the third most expensive home ever sold in the U.S. The priciest home ever sold in America is in the same building &#8212; Ken Griffin&#x27;s purchase of four floors (51 through 53) for $238 million in 2019.<\/p>\n<p>Tsai&#x27;s purchase spans two floors (the 60th and one above) and has sweeping views of Central Park and mid-town Manhattan. The deal also includes a studio apartment on the 18th floor, likely for staff.<\/p>\n<p>Thanks in part to Griffin&#x27;s purchase, as well as blue-chip buyers like Sting and Daniel Och, 220 Central Park South has continued to soar in value even through the pandemic, and it&#x27;s more than 90% sold out. The units purchased by Tsai both sold for more than than their original sale price. The 61st floor sold for $51.4 million last year, while the 60th floor sold for $50.9 million.<\/p>\n<p>A spokesperson for Tsai didn&#x27;t immediately comment.<\/p>\n<p>The purchase comes at a sensitive time for Tsai and Alibaba. Alibaba shares have fallen by a third since October, and Chinese authorities are cracking down on the country&#x27;s big tech companies to curb their power and data reach. Tsai&#x27;s fellow Alibaba co-founder Jack Ma has largely retreated from public life after he criticized Chinese regulators and Beijing scuttled the initial public offering of his fintech giant Ant.<\/p>\n<p>Tsai remains executive vice chairman and the second-largest shareholder of Alibaba. Tsai, who is worth about $10 billion, according to the Bloomberg Billionaire&#x27;s Index.<\/p>\n<p>Tsai was born in Taiwan, attended school in New Jersey and lived and worked in New York in the mid-1990s working as a lawyer and private-equity executive. After making his fortune in China at Alibaba, he splits his time between San Diego and Hong Kong. He holds both Canadian and Hong Kong passports.<\/p>\n<p>Tsai purchased a minority stake in the Brooklyn Nets in 2017 and purchased the remainder of the team in 2019 along with operating rights to Barclay&#x27;s Center for a total of more than $3 billion. Tsai also sits on the board of NBA China and owns the WNBA&#x27;s New York Liberty.<\/p>\n<p>Tsai often attends Nets games and told the New York Post he planned to become more visible in New York after buying the team. &quot;New York is an incredible city. I have an affinity for New York,&quot; he told The Post in 2019. &quot;My first job after law school was in New York. I met my wife here. So New York to me is my second home.&quot;<\/p>\n<p>Now, he will have an even bigger home for his second home.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/19\/billionaire-joe-tsai-is-the-mystery-buyer-behind-157-million-manhattan-apartment-deal.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alibaba co-founder Joe Tsai is the mystery buyer behind a $157 million apartment deal in Manhattan&#x27;s most prestigious condo tower, according to people familiar with [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire Joe Tsai is the &quot;mystery buyer&quot; behind $157 million Manhattan apartment deal - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/billionaire-joe-tsai-is-the-mystery-buyer-behind-157-million-manhattan-apartment-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire Joe Tsai is the &quot;mystery buyer&quot; 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