When the Time Warner Center in Manhattan started selling units, expectations were high. Then 9/11 happened and the market tanked. Well, the billionaires came rolling in to the buildings and the two towers are now sold out.
THE Related Companies sold the last remaining apartment at Time Warner Center in the final week of March, logging total sales in the two-building complex of more than $1.1 billion, according to David J. Wine, the vice chairman of Related.
The last apartment to sell was a half-floor penthouse on the 77th floor of the north building, which contains the Mandarin Oriental Hotel.
Some of the billionaires that bought in are:
Last month, J. Joe Ricketts, the founder of Ameritrade, the online stock brokerage company, paid $29.2 million for the 78th floor of the north tower. The deed for the apartment was filed with the city on March 31. The magazine estimated his family fortune at $2.5 billion.
Thomas M. Siebel has bought the 79th floor of the south tower for about $28 million. Mr. Siebel is the founder of Siebel Systems, a software company, which was sold last year to Oracle for $5.8 billion. Mr. Siebel is No. 486 on the Forbes list, with an estimated net worth of $1.6 billion.
Other billionaires who have bought more modest apartments in the building include John W. Kluge, No. 52 on the Forbes list with an estimated net worth of $9 billion, and Jon L. Stryker, heir to a medical equipment fortune, ranked by Forbes at No. 428, with a net worth of $1.8 billion. via the New York Times.
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