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Beyond the building\u2019s prestige and the apartment\u2019s scale, the price is what stands out; Griffin paid well above where similarly sized apartments are priced, with two apartments in the building asking around $22 million. The unit reportedly underwent a multimillion-dollar renovation, but what likely drove some of the uptick in price is proximity. The roughly 7,500-square-foot residence sits directly beside another duplex Griffin acquired in early 2025 from Julia Koch, the widow of David Koch, for $45 million.<\/p>\n
All in, Griffin now has about $83 million tied up in the building\u2014before any additional costs related to a merger, which could run well into the tens of millions. Those figures rival some of the biggest deals ever recorded at 740 Park Avenue. Howard and Nancy Marks\u00a0paid $52.5 million<\/a>\u00a0for a much larger apartment back in 2012, while Israel \u201cIzzy\u201d Englander\u00a0dropped a whopping $71.3 million<\/a>\u00a0on a gigantic duplex in 2014.<\/p>\n ken griffin 740 park avenue <\/p>\n The acquisition follows a familiar strategy for Griffin, who has made a habit of buying contiguous properties and stitching them together. About 12 blocks away, at 220 Central Park South, he\u00a0paid a record-setting $238 million<\/a>\u00a0for a massive penthouse in 2019 and later added additional units in the building. He has taken a similar approach in both Miami Beach and Palm Beach, assembling roughly 25 acres of ocean-to-lakefront land in the latter that is\u00a0expected to become a mega-compound<\/a>\u00a0potentially valued at $1 billion.<\/p>\n Griffin is a notorious trophy-property collector, and\u00a0his vast real estate portfolio<\/a>\u00a0stretches across the globe. In London, a mansion near Buckingham Palace cost about $122 million, while in the Hamptons, an $84.4 million estate anchors his Southampton holdings. Since relocating his primary base to Miami in 2022, he has poured more than $275 million into properties across Coconut Grove and Star Island. Additional footholds in Aspen and Hawaii follow a familiar pattern of buying adjacent homes within the same enclave.<\/p>\n Designed in 1929 by Rosario Candela and developed by James T. Lee\u2014the grandfather of\u00a0Jacqueline Kennedy Onassis<\/a>\u2014740 Park Avenue has long been associated with families like the Rockefellers and ranks among the city\u2019s most powerful and socially influential addresses nearly a century later. Records show other apartments are owned by the former U.S. Secretary of the Treasury Steven Mnuchin, fashion designer Vera Wang, and banking scion Jacob Safra.<\/p>\n The timing also intersects with renewed debate over\u00a0New York\u2019s proposed pied-\u00e0-terre tax<\/a>, backed by Governor Kathy Hochul and Mayor Zohran Mamdani. The measure would apply to second homes valued at $5 million or more that are not used as primary residences. Griffin, now based in Florida, has been a central figure in that conversation since his record-setting Manhattan purchase helped revive earlier versions of the tax. For now, the possibility of added costs does not appear to be slowing him down.<\/p>\n Best of Robb Report<\/p>\n Sign up for RobbReports’s Newsletter<\/a>. For the latest news, follow us on Facebook<\/a>, Twitter<\/a>, and Instagram<\/a>.<\/p>\n![\"ken](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/04\/a5fac7cbfdbb8773360a6d77d23992e0.jpeg\"\/)
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