432 Park Hits $2B in Condo Sales

The developers of 432 Park Ave. say they have sold more than $2B worth of condominiums at the supertall, an all-time record for a residential building in New York City.

The figure is based on total volume of its initial closings, co-developers CIM Group and Macklowe Properties said in a release. There have been 48 closings north of $20M at the Rafael Viñoly-designed building.

The 1,400-foot, 96-story building has 125 units and 30K SF of amenities space that includes a private restaurant and a 75-foot swimming pool. Since sales launched six years ago, it has been home to a number of high-profile deals. In 2016, a penthouse there sold for $87.7M, one of the most expensive condo sales for the year. Last December, a Chinese buyer paid $91.2M for three units spanning a total of 12K SF.

In 2016, the retail part of the building sold for $411M. An 8,255-foot penthouse asking $82M is one of the units still on the market, according to StreetEasy.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Bally's Lines Up $560M Loan For Bronx Casino: The N.Y. Deal Sheet

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Historic Brooklyn Hotel To Be Turned Into Ritz-Carlton-Branded Condos

Dublin BTR Had A €1B Summer

Sales Of Lower-End Apartments Surge In Philly As Landlords Face Financial Issues

Wu Proposes Tax Breaks To Jump-Start Stalled Housing Projects

Taconic Partners Sheds Another NYC Life Sciences Property

Developer Seeks Permit For Denver Energy Center Conversion Project

Airbnb Launches $250M Fund To Invest In Affordable Housing

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

DFW Multifamily Distress Creates Opening For Investors As Development Slows