Media mogul Byron Allen has secured a significant real estate deal in Manhattan. He recently sold his full-floor condominium in the ultra-luxury tower 220 Central Park South for an astounding $82.5 million. This is a notable increase from the $75 million he paid for the unit in 2023. The off-market sale resulted in a substantial profit in just a year, demonstrating the continued strength of Manhattan’s high-end property market. This transaction adds to the prestige of Billionaires’ Row—a collection of premium residential towers near Central Park—and further solidifies Allen’s reputation for strategic real estate investments.
A Rapid and Profitable Flip on Billionaires’ Row
Byron Allen’s recent property sale has drawn attention for both its price and speed. According to a Wall Street Journal report, Allen sold his full-floor apartment at 220 Central Park South for approximately $82.5 million in an off-market deal, well above his purchase price from 2023.
Such a quick and profitable turnaround is unusual, even on Billionaires’ Row, a stretch of ultra-luxurious skyscrapers along the southern border of Central Park that attracts affluent buyers from across the globe. Allen’s sale underscores the enduring value of these high-end residences—despite a cooling real estate market, top-tier properties in New York continue to fetch extraordinary prices, especially those with the prestige and views of a Central Park location.
The Prestige of Billionaires’ Row and 220 Central Park South
220 Central Park South is a landmark within Manhattan’s exclusive Billionaires’ Row, a cluster of towering, high-end residential buildings near 57th Street and Central Park that consistently break sales records. Designed by renowned architect Robert A.M. Stern and developed by Vornado Realty, the 70-story tower exudes classic New York elegance with its limestone exterior, despite being a relatively recent construction, completed in 2018.
The building is among the city’s most sought-after addresses, offering breathtaking views of Central Park and world-class amenities. Residents have access to a private motor court, wine cellar, exclusive dining rooms, and a range of recreational facilities, including an 82-foot indoor saltwater pool, a squash court, a library, and a private Jean-Georges restaurant.
Discretion is key at 220 Central Park South—many buyers remain anonymous due to the highly private purchasing process. However, a few high-profile transactions have brought the building into the spotlight. In 2019, hedge fund billionaire Ken Griffin made history by purchasing a penthouse there for $238 million, setting the record for the most expensive home sale in U.S. history.
From Stand-Up Comedy to Media Empire
Byron Allen’s career began as a teenage stand-up comedian in Los Angeles, where he became the youngest performer to appear on The Tonight Show Starring Johnny Carson. However, he soon transitioned from entertainment to business, building a media empire.
In 1993, Allen launched what is now Allen Media Group, which has grown into one of the largest privately owned media companies in the country. His estimated net worth stands at around $1 billion.
As chairman and CEO of Allen Media Group, he owns a diverse range of media assets, including television networks, film distribution companies, and digital platforms. Among his most notable acquisitions is The Weather Channel, which he purchased for approximately $300 million in 2018. Additionally, Allen Media Group owns nearly 30 local TV stations affiliated with major networks like ABC, NBC, CBS, and Fox.
Allen has also expanded his portfolio through acquisitions of content production and distribution companies, such as Freestyle Releasing and digital news platform TheGrio. His business approach revolves around acquiring undervalued media assets and making them profitable, a strategy that has enabled him to maintain 100% ownership of his company and continually reinvest in its expansion.
A Growing Trophy Real Estate Portfolio
Given his immense wealth, it’s no surprise that Byron Allen has developed a taste for luxury real estate. His Manhattan condo sale is just one transaction in a larger portfolio of high-end properties, collectively valued at over $500 million.
In 2022, Allen made headlines by purchasing a Malibu estate for $100 million. The oceanfront property, located in the elite Paradise Cove enclave, includes a 10,700-square-foot Mediterranean-style mansion, two guest houses, a tennis court, and sweeping Pacific Ocean views. It sits next to a $190 million compound owned by WhatsApp co-founder Jan Koum, placing Allen in one of the most exclusive neighborhoods in the country.
Allen also owns multiple properties in Beverly Hills, California, including two adjacent estates that he is merging into a larger compound. In 2021, he secured an $83 million construction loan for these properties, indicating extensive renovations.
Beyond the mainland, he acquired a $22.8 million beachfront retreat on Maui’s Kihei coast in 2018. The 7,300-square-foot home, featuring five bedrooms and seven bathrooms, was one of the highest-priced sales recorded on the island at the time.
Additionally, Allen has invested in luxury properties in Aspen, Colorado. In 2024, he sold a Red Mountain mansion for $60 million—more than double the $27 million he had paid four years earlier—earning a $30 million profit.
From Beverly Hills to Aspen, Maui to Manhattan, Byron Allen’s real estate portfolio spans some of the most expensive markets in the U.S. Much like his media acquisitions, his approach to real estate involves identifying valuable assets and capitalizing on their appreciation, solidifying his position as both a media mogul and a real estate powerhouse.
