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Luxe RiverTower Could Fetch $400M

RiverTower at 420 E 54th St, just hit the market and it's expected to sell for roughly $400M.

The 38-story luxury rental building was developed by Harry Macklowe in 1982. It has 322 units, most of which have views of the East River or the Manhattan skyline. Macklowe's wife, Linda, also apparently insisted on large closets.

RiverTower sold to Sam Zell's Equity Residential in 2010 for $181.5M ($565k/unit). Now it's back on the market with star brokers Darcy Stacom and Bill Shanahan of CBRE repping it.

Available units in the building range for around $4k/month to nearly $12k/month, according to StreetEasy. [NYP]