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

His business partner Howard Lorber owns a unit three floors up

TRD 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

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

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax

Unrealistic pricing bogs down Miami luxury condo market: TRD Showcase & Forum

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

The Real Deal’s E.B. Solomont receives Front Page Award

Harry Macklowe, Linda Macklowe and 432 Park Avenue (Credit: Getty Images)

The latest in Harry Macklowe’s divorce: Linda’s appeal killed in court

Rents increased year over year this September in Manhattan and Brooklyn to $4,336 and $3,366

Rents tick up and concessions fall amid broader economic uncertainty

arrow_forward_ios