{"id":204064,"date":"2026-04-21T00:21:15","date_gmt":"2026-04-21T00:21:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/204064\/"},"modified":"2026-04-21T00:21:15","modified_gmt":"2026-04-21T00:21:15","slug":"ken-griffin-snaps-up-neighboring-apartment-at-740-park-avenue-for-38m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/204064\/","title":{"rendered":"Ken Griffin Snaps Up Neighboring Apartment at 740 Park Avenue for $38M"},"content":{"rendered":"

\n\tKen Griffin isn\u2019t letting the prospect of a pied-\u00e0-terre tax slow his Manhattan<\/a> expansion.<\/p>\n

\n\tThe Citadel founder has\u00a0reportedly<\/a>\u00a0paid $38 million in an all cash deal for a sprawling duplex at 740 Park Avenue, adding to his stake in one of the Upper East Side\u2019s most storied co-ops. The seller\u2014shielded behind a trust\u2014purchased the unit for $20.5 million in 2019, nearly doubling their investment in the latest transaction. <\/p>\n

\n\tBeyond 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.\u00a0<\/p>\n

\n\tAll 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.\u00a0<\/p>\n

\t\t\t\t\t\t\"ken<\/p>\n

\t\t\t\t\tKen Griffin dropped $38 million on a second apartment at 740 Park Avenue.<\/p>\n

\t\t\t\t\t\t\t\t\tSTAN HONDA\/AFP via Getty Images<\/p>\n

\n\tThe 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<\/a> Beach and Palm Beach<\/a>, 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

\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tFeatured Listing\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tThe Westerly Estate: A Tuscan Villa in Paradise\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\tSanta Ynez, CA\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t$52,500,000 USD\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t<\/a><\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tFeatured Listing\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tParis, \u00cele-de-France 75002, France\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\tParis, France\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t$21,201,400 USD | 18,000,000 EUR\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t<\/a><\/p>\n

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\t\t\t\t\t\t\t\t\t\t\tFeatured Listing\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t4867 Legacy Way, Park City, Utah 84060\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\tPark City, UT\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t$22,000,000 USD\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t<\/a><\/p>\n

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\t\t\t\t\t\t\t\t\t\t\tFeatured Listing\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t111 W 57th St, New York, NY 10019\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\tNew York, NY\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t$98,000,000 USD\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t<\/a><\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t161 Stillwater Rd, Aspen, CO 81611\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\tAspen, CO\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t$300,000,000 USD\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t<\/a><\/p>\n

\n\tGriffin 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<\/a>, 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

\n\tDesigned 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

\n\tThe 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<\/a>, 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

\tAuthors<\/p>\n

\t\t\t\"Abby<\/p>\n

\n\t\tAbby Montanez\n\t\t\t<\/p>\n

Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to\u2026<\/p>\n

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\n\t\t\t\tRead More\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Ken Griffin isn\u2019t letting the prospect of a pied-\u00e0-terre tax slow his Manhattan expansion. The Citadel founder has\u00a0reportedly\u00a0paid…\n","protected":false},"author":2,"featured_media":204065,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3640,18475,75,5546,9,24,12,56,63,65,64,19031,1491],"class_list":["post-204064","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-florida","tag-hamptons","tag-manhattan","tag-miami","tag-new-york","tag-new-york-city","tag-news","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-palm-beach","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/204064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=204064"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/204064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/204065"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=204064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=204064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=204064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}