A hedge fund CEO has paid $US238 ($333) million for a New York City penthouse, breaking the record for the most expensive home in the US — and the apartment is not even finished yet.

Key points: Hedge fund CEO Ken Griffin is expected to pay millions more to furnish the penthouse

Sting and his wife Trudie Styler also have an apartment in the building

The previous record price paid for property in the US was $266 million

Ken Griffin, the US chief executive and founder of Citadel, is expected to pay millions more to design, build and furnish the apartment at 220 Central Park South.

A spokeswoman for Mr Griffin told the Wall Street Journal he made the purchase as Citadel is expanding its presence in New York and Mr Griffin needed a place to stay when in the city.

When Mr Griffin is handed the keys to his new property, it will be delivered unfurnished as a white box, a person familiar with the deal told the paper.

According to CNBC, the apartment covers four floors, is about 24,000 square feet and has unparalleled views of Central Park.

Amenities at the complex include private dining rooms, an athletic club, juice bar, library, basketball court, golf simulator and children's play area.

Ken Griffin reportedly boasts a $12.3 billion fortune. ( Reuters: Lucy Nicholson )

It also boasts famous neighbours.

The building, designed by Robert AM Stern Architects, has attracted the attention of Sting and his wife Trudie Styler, who have also bought an apartment in the building.

The previous record price paid for property in the US was set by hedge fund manager Barry Rosenstein, who paid $266 million for a home in the Hamptons.

Mr Griffin's latest purchase comes under a week after the hedge fund billionaire bought a historic London mansion for $170 million, in what was the most expensive property sold in London in more than 10 years.

The 200-year-old mansion, which is located about 10 minutes from Buckingham Palace on foot, overlooks St James's Park and was once home to former French president Charles de Gaulle.

Mr Griffin has spent more than $1 billion on properties in Chicago, New York, Florida, Palm Beach and London.

Sting and Trudie Styler have also bought an apartment in the building. ( Reuters: Mike Blake )

The billionaire is no stranger to breaking records — in 2015 he bought the most expensive property ever sold in Miami for $84 million.

He has also spent more than $280 million buying land in Palm Beach.

Last year, he paid the highest price ever for his Chicago property, shelling out $81.9 million for the top four floors of the city's Gold Coast tower.

According to the Bloomberg Billionaires Index, Mr Griffin boasts a $12.3 billion fortune.

Reports from Institutional Investor claim he made about $1.9 billion in 2017 alone.