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

Supertall Assemblage Comes Together At Long-Vacant Midtown Site: The N.Y. Deal Sheet

Suburban D.C. County Weighs Microhousing As Affordability Salve

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

RealPage Antitrust Case Ends With Nearly $360M In Settlements For Renters

ZOM Living Entity Files For Bankruptcy To Fund Fight To Overturn $323M Judgment

Golden Apartment Building Sells For $62M To Chicago Company

Banks Are Manhattan's Latest Hot Retail Tenant

New Student Housing Towers Lease Up Quickly In University City, But Developers Can't Build More

Nord Group's Lawyer Moves To Quit, Says Entities Can't Pay Him

Housing Completions Close To 40,000 As LDA Adds Major Site And CEO Departs

Voorhees Greenlights 178-Unit Office-To-Resi Conversion Amid Multifamily Boom

Battered Mortgage REIT Suspends Dividend To Preserve Cash