The Real Deal New York

Zeckendorfs tap Louis Buckworth to market 520 Park

BHS and Corcoran alum will lead spring sales launch at luxe tower, which will boast a $130M penthouse
By E.B. Solomont | February 03, 2015 01:50PM

Zeckendorf Development has tapped Corcoran Group and Brown Harris Stevens alumnus Louis Buckworth to market its ultra-luxury tower at 520 Park Avenue, The Real Deal has learned. As sales director for the 54-story Robert A.M. Stern-designed development between East 60th and East 61st streets, it’s now up to Buckworth to sell the city’s priciest listing, a triplex penthouse that the Zeckendorf brothers hope will fetch $130 million.

Sales at the 31-unit building, which the Zeckendorfs are developing along with Eyal Ofer’s Global Holdings and Rafael and Ezra Nasser’s Park Sixty LLC, are set to launch this spring. In addition to the $130 million penthouse, 520 Park will offer seven duplexes, each starting at $67 million. Single-floor units will start at $16.2 million. The building has a total sellout of $1.2 billion, according to a summary of the offering plan filed with the state Attorney General’s office.

Buckworth joined Brown Harris Stevens in December after a successful run at the Corcoran Group. As part of the Pashby-Buckworth team with Maria Pashby, he sold $1.5 billion in real estate. Last year, the team brokered the $50 million sale of 19 East 70th Street to private equity titan Leon Black. The team represented the seller, One Hyde Park developer Christian Candy, who paid $35 million for the mansion in 2013.

“Louis has a unique understanding of high-end real estate in Manhattan,” Arthur Zeckendorf said in a statement. “His expertise in the marketing of luxury developments makes him ideally suited to the position.”

The development team received a $450 million construction loan for the building from British hedge fund the Children’s Investment Fund Management.