Summary:

Bill Ackman is selling two NYC apartments for $19.9 million, taking a multimillion-dollar loss.
The apartments, located in The Beresford on Central Park West, were originally purchased for $22 million.
Each apartment is 3,000 square feet with three bedrooms, three baths, and Central Park views.
One apartment has a higher asking price due to recent renovations.
Ackman's move reflects a shift in his real estate preferences towards modern penthouses.

Billionaire Hedge Fund Manager Sells Luxurious NYC Apartments at a Loss

Bill Ackman, the CEO of Pershing Square Capital Management, recently listed two of his Upper West Side apartments for sale at a significant loss. He initially purchased the apartments in 2017 for $22 million, but is now seeking $19.9 million for the pair. Located in the prestigious Beresford building at 211 Central Park West, these 3,000 square foot units boast three bedrooms, three bathrooms, and breathtaking Central Park views.

One apartment commands a higher asking price due to extensive renovations, including a new kitchen and a glass-walled shower with a park view. Ackman originally bought the adjacent apartments, which share a landing and could be combined, to be near his children who lived with his ex-wife in a $26 million duplex above. He later sold this duplex to his ex-wife after their divorce.

The Beresford itself is a legendary building, a 1929 Beaux Arts co-op designed by Emery Roth and home to several celebrities. Interestingly, Curbed speculates that Ackman might be leaving some of his art collection, including a 1952 Jan Müller painting, in the apartments.

This sale marks a shift in Ackman’s real estate preferences, as he has since shown a penchant for penthouses in modern skyscrapers. This news comes amid Ackman's public criticisms of Harvard University, calling for the then-president's firing.

Source: New York Post