Hedge fund titan Bill Ackman has found a buyer for his Central Park-facing co-op — last listed at a 30% loss

New York Post - Apr 23rd, 2025
Open on New York Post

Billionaire investor Bill Ackman has entered into a contract to sell one of his Upper West Side apartments in the iconic Beresford building at a substantial loss. Initially purchased for $13.5 million in 2017, the three-bedroom co-op is now in contract after its asking price was reduced to $9.5 million from $11.5 million. Despite the sale being finalized, the specific buyer details and final sale price remain undisclosed. This transaction is part of Ackman’s broader strategy to streamline his real estate holdings in Manhattan, as he continues to live in a custom penthouse on West 77th Street.

Ackman's decision to sell at a loss comes in the wake of a fluctuating real estate market. The sale marks a significant moment in Ackman’s real estate journey, which includes high-profile acquisitions and sales following his divorce from Karen Ackman. His current holdings still include a luxurious $91 million condominium at One57. Ackman’s history with the Beresford is notable, with past purchases and transfers reflecting personal and market changes. This sale reflects broader trends in the luxury real estate market as investors recalibrate their portfolios amid shifting economic conditions.

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RATING

6.8
Fair Story
Consider it well-founded

The article provides a detailed and timely account of Bill Ackman's recent real estate activities, with a strong focus on factual accuracy and clarity. It effectively captures reader interest through its focus on a high-profile figure and luxury properties. However, the story could benefit from greater balance by incorporating diverse perspectives and expert commentary. Enhancing transparency and source quality through direct quotes and detailed attributions would further bolster credibility. While the article addresses a relevant topic, its impact on public opinion and policy is limited, as it does not explore broader societal implications. Overall, the story is well-structured and informative, with opportunities for deeper analysis and engagement.

RATING DETAILS

8
Accuracy

The story provides a detailed account of Bill Ackman's real estate transactions, with specific figures and dates that align well with available data. For instance, the claim that Ackman is selling a co-op at 211 Central Park West, originally purchased for $13.5 million in 2017, is consistent with property transaction records. The reduction in asking price from $11.5 million to $9.5 million is also verifiable through real estate listings. However, the story lacks verification on the final sale price and the identity of the buyer, which remains undisclosed. The narrative about Ackman's broader real estate strategy, including the listing of two Beresford apartments, aligns with public records and previous reports, enhancing the story's credibility. Minor discrepancies, such as the precise dates of listing and contract entry, could affect the overall accuracy but are generally supported by reliable sources.

7
Balance

The article primarily focuses on Bill Ackman's real estate activities, providing a singular perspective centered on his financial and personal decisions. While it mentions Ackman's motivations for streamlining his portfolio, it lacks viewpoints from other stakeholders, such as real estate experts or market analysts, who could offer insights into the broader market implications. The absence of comments from Vivian Fischer, the broker, also limits the story's balance. Including perspectives on the impact of high-profile sales on the luxury real estate market or potential economic factors influencing Ackman's decisions would enhance the article's depth and balance.

8
Clarity

The article is well-structured, presenting information in a logical sequence that makes it easy to follow Ackman's real estate transactions. The language is clear and straightforward, effectively conveying the key points without unnecessary jargon. The use of specific figures and descriptive details, such as the apartment's features and location, aids in reader comprehension. However, the story could benefit from clearer explanations of complex financial terms or real estate processes to ensure accessibility for all readers. Overall, the clarity is strong, with minor room for improvement in simplifying technical aspects.

6
Source quality

The story cites Olshan Realty for the contract date, indicating a reliance on credible real estate market reports. However, it does not provide direct quotes or detailed attributions from primary sources, such as Ackman himself or involved real estate agents. The lack of direct commentary from Vivian Fischer, despite her involvement, raises questions about source engagement. While the story appears to be based on factual data, the absence of diverse and authoritative sources weakens the overall source quality. More direct sourcing from primary actors in the transaction would bolster the article's credibility.

5
Transparency

The article provides some context regarding Ackman's real estate history and current market conditions, but it falls short in fully disclosing the basis for certain claims, such as the rationale behind the price reduction. The lack of detail about the methodology used to obtain the information, such as how the contract date was verified, limits transparency. Additionally, the story does not address potential conflicts of interest or biases, such as the author's relationship with Ackman or the real estate industry. Greater transparency in these areas would enhance the reader's trust in the article's integrity.

Sources

  1. https://www.cityrealty.com/nyc/market-insight/features/future-nyc/nyc-market-blooms-over-600m-deals-over-holiday-week-bill-ackman-finds-buyer-beresford-co-op/67084
  2. https://therealdeal.com/new-york/2024/11/18/bill-ackman-lists-central-park-west-duplex/
  3. https://www.crainsnewyork.com/real-estate/bill-ackman-lists-pair-central-park-west-apartments-20m
  4. https://traded.co/blog/bill-ackman-lists-beresford-apartments-for-sale/
  5. https://www.ilovetheupperwestside.com/bill-ackman-lists-cpw-apartments-at-2-million-loss/