Alibaba Group Holding Ltd BABA co-founder and billionaire Joe Tsai is the mystery buyer who closed a $157 million deal in Manhattan’s most prestigious condo tower, CNBC reported Monday, citing sources.
What Happened: Tsai has bought two full-floor condo apartments at 220 Central Park South in what’s believed to be the third most expensive home ever sold in the United States.
The most expensive U.S. home ever sold for $238 million in 2019 is housed in the same building as well, as per the CNBC report.
Tsai’s Manhattan condo spans two floors and has sweeping views of Central Park and midtown Manhattan and also includes a studio apartment on a different floor, which could be for staff, as per CNBC.
Why It Matters: Tsai’s purchase comes at a time when Chinese authorities are intensifying regulatory scrutiny on big tech companies including Alibaba, Tencent Holdings ADR TCEHY, and others, as the country's government looks to to curb their power and data reach.
Tsai, who also owns the Brooklyn Nets NBA team, is the executive vice-chairman and the second-largest shareholder of Alibaba.
Price Action: Alibaba shares, which have fallen 28% since October, closed 1.52% lower at $208.91 on Monday.
Photo by Jean Herodes on Wikimedia
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