An investor in billionaire Zhang Yiming's (pictured within the center) TikTok has paid a reasonably penny for 2 items at 111 W. 57th St. on Billionaires' Row.
Bloomberg through Getty Pictures / 111 West 57th Avenue
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TikTok investor Tim Gong has simply plunked down roughly $34 million for 2 luxe properties at 111 W. 57th St., the world’s skinniest supertall constructing that’s situated on Billionaires’ Row in New York Metropolis.
Susquehanna Worldwide Group, LLP, a secretive high-speed buying and selling agency with places of work outdoors Philadelphia, owns round 15% of TikTok proprietor ByteDance Ltd., based by Zhang Yiming, that’s estimated to be value $15 billion — making it the most important outdoors investor within the Beijing-based social media firm, in accordance with studies.
As managing director of Susquehanna’s Asia venture-capital unit, Gong is credited with co-spearheading the TikTok funding, studies say.
At 111 W. 57th St., Gong purchased a full-floor unit, No. 52, which measures 4,182 sq. toes, for $25.63 million. It comes with three bedrooms, 3½ bogs and floor-to-ceiling home windows with panoramic views from Central Park to the broader metropolis skyline.
The 84-story tower comes with 60 items and in addition contains Steinway Corridor, which is the landmarked Steinway & Sons former showroom, full with a restored limestone facade, that was inbuilt 1925. That’s the place Gong paid $8.11 million for unit 16S, which is 2,779 sq. toes and comes with two bedrooms and 3½ baths — together with a wraparound terrace.
Each condos — within the tower and in Steinway Corridor — had been sponsor items. “Gong,” a supply instructed Gimme, “spends little time right here, as he's primarily in Asia.” The properties are a part of his international actual property portfolio, which incorporates residences outdoors Philadelphia and in Montana. Gong can be identified for co-hosting an unique get together with Bona Movie through the Shanghai Movie Competition, the place he handpicks the wine, the Wall Avenue Journal as soon as famous.
The supertall was designed by SHoP Architects — and developed by JDS Growth Group, Property Markets Group and Spruce Capital Companions. Gong was repped by Chris Fry, a high dealer with Elegran Actual Property that lately introduced a partnership with Forbes International Properties.
The acquisition is simply one other instance of how Billionaires’ Row continues to draw offshore traders, Fry instructed Gimme Shelter.
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