The Real Deal New York

Hedgie heavyweight drops $33M on 432 Park condo

The 4K sf apartment on the 87th floor was listed for $38M

October 27, 2016 09:23AM

432 Park Avenue (Photo: DBOX for CIM Group/Macklowe Properties)

432 Park Avenue (Photo: DBOX for CIM Group/Macklowe Properties)

The sales keep coming at 432 Park Avenue. Just one month after a Saudi billionaire officially scooped up a penthouse for $88 million, another deep-pocketed buyer has closed on a pad high in the sky, paying over $8,200 per square foot for those Big Apple views.

Patrik Edsparr, the co-founder and CIO for Hong Kong-based investment management firm Tor Investment Management, paid $33 million, or $8,250 per square foot, for the three-bedroom, 4.5 bath apartment on the 87th floor.

Edsparr, who formerly led the securities division at Ken Griffin’s Citadel Investment Group, used an LLC called Bigappleview to buy the 4,000-square-foot apartment, the New York Observer reported.

The pad, which was listed for $38.5 million, has soaring views, a private elevator, an eat-in kitchen with marble floors, a center island and a corner living-slash-dining-room.

Last month, Saudi retail magnate Fawaz Al Hokair closed on an apartment there for a whopping $10,623 per square foot.  That deal was the biggest closed sale in New York so far this year. Before that, the priciest closed sale at the building was a full-floor unit for $59.1 million. Edsparr’s old boss, Griffin, is rumored to have paid over $200 million at Vornado Realty Trust’s TRData LogoTINY 220 Central Park South.

Douglas Elliman is handling sales at 432 Park, developed by Macklowe Properties and CIM Group and designed by starchitect Rafael Vinoly[NYO]Miriam Hall

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