Billionaire Ken Griffin has purchased a New York City penthouse for $238 million, setting a new record for the most expensive home sold in the U.S., according to The Wall Street Journal.

The Journal reported that the penthouse might be one of the most expensive pieces of real estate ever sold worldwide.

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The penthouse is located at 220 Central Park South in a high-rise that is still under construction, the Journal reported.

A spokeswoman for Griffin confirmed the purchase to the newspaper, saying that the Citadel hedge-fund manager needed a place to stay when he was in New York for business.

Griffin originally signed a contract to buy the New York penthouse in 2015, but the sale only closed now because construction is close to completion, according to the Journal.

Vornado Reality Trust, a real estate investment firm that is building the tower, is reportedly expected to make about $1 billion in profit from the project.

The purchase breaks the previous record for the most expensive home sale, which was set by another hedge-fund manager, Barry Rosenstein, who bought a home in the Hamptons for $137 million in 2014.