By: Jordan Baker

As The NY Post reported, billionaire hedge fund titan Bill Ackman has entered into a contract to sell one of his two apartments at The Beresford, the iconic Art Deco building located at 211 Central Park West on Manhattan’s Upper West Side. This sale comes with a significant price drop, marking a clear effort by Ackman to streamline his vast real estate portfolio. The three-bedroom, three-bathroom co-op, initially listed at $11.5 million, was reduced to $9.5 million before entering contract on April 18, according to a recent market report from Olshan Realty. The sale is yet to close, so the final price remains unknown.

For Ackman, this transaction is a part of a broader trend. The apartment, which Ackman acquired in 2017 for $13.5 million, a record price at the time for the building, is now poised to sell for far less. As The NY Post reported, Ackman has had a longstanding connection to The Beresford, a building he has owned multiple units in since 2006.

The apartment in question spans nearly 3,000 square feet and has been newly renovated, offering 10-foot ceilings and sweeping views of Central Park. The unit, with its luxurious features, was initially marketed as a prestigious residence. However, despite its prime location and newly upgraded interiors, the substantial price cut reflects changes in the real estate market and Ackman’s own shifting priorities.

This sale is part of a larger strategy by Ackman to scale down his Manhattan real estate holdings. In November 2024, he listed two apartments at The Beresford—units 8E and 8F—for a combined price of $19.9 million. These units were purchased in 2016 for $22 million, shortly after his high-profile divorce from landscape architect Karen Ackman. One of those units, 8E, remains on the market at just under its original $8.5 million purchase price.

As The NY Post reported, Ackman’s history with The Beresford is well-established. In 2006, he and Karen Ackman purchased a 17th-floor co-op for $26 million. Following their separation, the unit was transferred to Karen in 2018 for $15 million, according to property records. Ackman, who is now married to designer Neri Oxman, still holds other prime properties, including a $91 million, six-bedroom condominium at One57, located on Billionaire’s Row.

Ackman’s decision to sell the Beresford unit at a loss comes as he navigates a dynamic real estate market, all while maintaining a high-profile lifestyle. With an estimated net worth of $8.9 billion, Ackman has continued to make waves in both the financial world and the luxury real estate market. His move to sell this unit, which boasts a gas fireplace and three walk-in closets, highlights his ongoing efforts to streamline his assets.

The apartment, which had been marketed as a luxurious retreat with Central Park views, was originally priced to reflect its exclusivity. However, as The NY Post reported, the broader trends in the real estate market and Ackman’s personal decisions have led to a significant devaluation. His recent actions indicate that he is opting for a leaner, more focused real estate portfolio, shedding properties that no longer align with his current goals.

Ackman’s move to liquidate some of his holdings aligns with his personal and financial priorities, with reports indicating that he and his wife now reside on West 77th Street in a custom-built penthouse.