According to news reports, the penthouse condominium in Boston’s Millennium Tower will be sold to Irish billionaire John Grayken.
The Boston Business Journal first reported the buyer’s identity. The condo went under agreement earlier this year, but as it has not yet closed, the buyer was unidentified. The BBJ reports several anonymous sources confirmed Grayken as the buyer.
But Grayken isn’t likely to be spending a lot of time in his luxurious, lofty perch atop the city’s latest landmark. Per a feature in Forbes, he renounced his U.S. citizenship in 1999 to avoid paying U.S. income taxes. His net worth is now valued at approximately $6.3 billion, earned largely on the proceeds of acquiring and selling distressed loans.
Initially listed at $37 million, reports indicate the deal will close for slightly less, in the range of $35 million.
The 13,000-square-foot luxury residence occupies the entire top floor of the 60-story building and also features a 2,000-square-foot outdoor terrace. It is one of 442 condominiums in Millennium Tower; the remaining units are available for prices starting at $3.3 million, according to developer Millennium Partners. Smaller units on the lower levels sold for as low as $850,000.
Grayken grew up in Cohasset and now owns White Head Island, a small private island off the coast of the South Shore town.