The Real Deal New York

Zeckendorfs’ 520 Park project to have $100M penthouse

Expected price tag would make it the most expensive top-floor apartment in the city

March 25, 2014 08:35AM

520-park

From left: 520 Park Avenue rendering, William and Arthur Zeckendorf (credit: Marc Becker) and Christ Church

Developers William and Arthur Zeckendorf’s planned 51-story condominium tower at 520 Park Avenue will have a $100 million penthouse, the Wall Street Journal reported, citing unnamed sources.

The Robert A.M. Stern-designed project is slated to hold 31 full-floor units, with asking prices starting at $27 million. Single-floor apartments will cover roughly 4,600 square feet. There will also be seven six-bedroom duplexes and one 12,400-square-foot triplex, the latter of which will be listed for up to $10,000 per square foot. The penthouse’s expected $100 million price tag would make it the priciest unit in the city.

The Zeckendorfs paid $30.4 million for air rights from Christ Church, located at the northwest corner of Park Avenue and 60th Street, to add stories to their tower, as previously reported. Foundation work has begun on the 85-foot-wide, 178,000-square-foot property. Sales will likely launch in the next few months, the Wall Street Journal said.

The building is one of eight condo towers in the works in the vicinity of 57th Street in Midtown Manhattan. [WSJ]Mark Maurer

3 Responses to “Zeckendorfs’ 520 Park project to have $100M penthouse”

  1. March 25, 2014 at 9:12 am, CloseYourEyesandBlow said:

    so basically 2 condos sold will pay for their entire project

    • March 25, 2014 at 2:55 pm, Yung Chomo said:

      30 million was just for the air rights. Pretty sure the building development will cost a little too…. yhn

  2. March 25, 2014 at 12:53 pm, WannaBeLandlord said:

    Sounds like the Zeckendorf’s aren’t going to give away any upside to buyers. Even though 15 CPW was a huge success, they must hate seeing the resale prices in that bldg.

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