Bill Ackman and wife, Neri Oxman, earned approval from New York City’s Landmarks Preservation Commission on Tuesday to build their penthouse in the sky despite years-long push back from their Upper West Side neighbors.
“We are grateful for the LPC’s input and ultimate approval,” Ackman told The Post. “It led to a better design, and more support from the community. Looking forward to moving in.”
The billionaire hedge fund manager and founder of Pershing Square Capital Management had purchased the 13-room penthouse in 2018 for nearly $22.5 million, records show. It was the first time the residence had been listed for sale in 40 years — having previously been owned by the late author, Nancy Friday.
Ackman, 55, has spent the past two years working on plans for the property after ditching an initial two-story glass penthouse design that would have been too visible from the street.
The commission had received 50 letters opposing the proposal from individuals and another four from advocacy groups, and the investor was forced to consider alternative ways to build his ideal home.
Plans for the 5,200-square-foot penthouse — which will take at least 18 months to build — are now moving forward after the LPC instructed Ackman to be more accommodating to neighbors.
“We ask the applicants to continue to study this project,” Landmarks Chair Sarah Carroll said in a November 3 hearing. “You are in the right direction, [but continue] thinking about how you can fulfill the design intent of this glass house on the roof by sinking it down, lowering it, and maintaining a more sort of horizontal quality.”
Ackman, in the same hearing, revealed at the time that his goal was to come up with a project that was more considerate and subtle for the rooftop overlooking Central Park.
“The last thing we wanted to do here was barge in and build something on someone else’s building disrespectfully,” he said.
The neo Renaissance-style property was constructed as a pink stucco box, and is currently a combination of four separate apartments that take up floors 16 and 17. The new project will be designed by Norman Foster.
It’s not clear when the existing penthouse was painted pink.
The residence is not a city landmark, but falls within the Upper West Side/Central Park West historic district.
