The Real Deal New York

Duplex PH at Zeckendorf’s 520 Park asks $70M

Four units listed at luxury condo tower starting at $17M
April 28, 2015 01:05PM

A duplex penthouse asking $70 million is one of four new units at Zeckendorf Development’s highly anticipated 520 Park Avenue residential tower to officially hit the market.

The four units listed include the $70 million duplex penthouse on the 40th floor, a $32.6 million full-floor residence on the 33rd floor, another full-floor apartment asking $26.7 million on the 28th floor and a $16.6 million apartment on the 16th floor.

The 54-story tower, slated for completion in 2017, will feature only 31 units starting at around $16 million, according to Crain’s. The building’s triplex penthouse is asking a whopping $130 million, with a total sellout valued at $1.2 billion.

Zeckendorf tapped Corcoran Group and Brown Harris Stevens alumnus Louis Buckworth to market the Robert A. M. Stern-designed development, which acquired its Park Avenue designation thanks to an air rights deal.

Zeckendorf received a $450 million construction loan from a British hedge fund last year to fund the project. [Curbed]Rey Mashayekhi