Vector director Bennett LeBow paid $45M for 432 Park pad

His business partner Howard Lorber owns a unit three floors up

New York /
Apr.April 14, 2016 05:27 PM

Bennett LeBow, chairman of Douglas Elliman’s parent company Vector Group, paid $44.8 million for a new pad in 432 Park Avenue.

LeBow bought a half-floor condominium unit on the 64th floor in Macklowe Properties and CIM Group’s ritzy supertall, according to property records filed with the city Thursday. He joins partner Howard Lorber, who bought a half-floor unit on the slightly higher 67th floor.

For his new digs, LeBow dropped more than the value of his shares in Vector — estimated last year to be worth roughly $34.7 million. A representative for LeBow did not immediately return a request seeking comment.

In May, The Real Deal learned that Saudi Arabian retail magnate Fawaz Al Hokair bought the tower’s penthouse for $95 million, though it appears that the sale has not yet closed. Other buyers in the building include Nassir Abulaziz Al-Nasser, former president of the United Nations, and Miami real estate investor Rene Dahdah.

The luxury tower may attract some high-end clientele, but the inspiration for the tower’s outward design was an ordinary object. The 1,396-foot-tall building was modeled after a trash basket.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Garret Lepaw and Corcoran's Pam Liebman (Photo via Jonathan Grassi/Corcoran)
Douglas Elliman exec returns to Corcoran after 7 years
Douglas Elliman exec returns to Corcoran after 7 years
Tenants are singing longer leases to lock in low rent. (Getty)
Tenants locking in longer leases as apartment rents rise
Tenants locking in longer leases as apartment rents rise
Smaller retailers are snapping up Manhattan’s empty storefronts for shorter, cheaper leases (iStock)
Small retailers slip into city’s empty storefronts on the cheap
Small retailers slip into city’s empty storefronts on the cheap
Corcoran CEO Pam Liebman, Douglas Elliman Executive Chairman Howard Lorber and Compass CEO Robert Reffkin. (Unsplash, Corcoran, Compass, Douglas Elliman)
Which resi brokerages grew and shrunk during the pandemic
Which resi brokerages grew and shrunk during the pandemic
Real estate at risk: Industry vulnerable to data breaches
Real estate at risk: Industry vulnerable to data breaches
Real estate at risk: Industry vulnerable to data breaches
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...