Mystery buyer snags 432 Park spread for $59M

In building’s priciest closed sale yet, Unit 79 traded for $7,337 per foot

TRD New York /
Jun.June 07, 2016 01:03 PM

A mystery buyer has closed on a $59.1 million purchase of a full-floor pad at 432 Park Avenue – the priciest done deal yet at Macklowe Properties and CIM Group’s ritzy supertall condominium.

A Los Angeles-based corporation, 432 Crotona Park Avenue LLC, is listed as the buyer, according to property records filed with the city on Tuesday. On a per square foot basis, the LLC paid roughly $7,337 per foot for the pad, a combination of two half-floor units that together span more than 8,000 square feet.

Closings at the Rafael Viñoly-designed tower began this past fall, and while $59 million is a sales record for the time being, that’s bound to change very soon.

Saudi billionaire Fawaz Al Hokair is reportedly in contract to buy a penthouse for $95 million, or $11,508 per foot. Last month, an unknown buyer inked a deal for an 8,000-square-foot penthouse asking $76.5 million, or $9,497 per foot. Neither deal has closed.

Since closings began, known buyers include Bennett LeBow, chairman of Douglas Elliman’s parent company Vector Group, who paid $44.8 million, or $5,600 per foot, for a full-floor apartment. Meanwhile, Elliman chief and Vector CEO Howard Lorber shelled out $15 million, or roughly $3,750 per foot, for a half-floor pad on the 67th floor, and Qatari diplomat Nassi Abdulaziz Al-Nasser, a former president of the U.N. General Assembly, paid $16.2 million for a 51st-floor spread.


Related Articles

arrow_forward_ios
HFZ Chairman and Founder Ziel Feldman (Credit: Monica Schipper/Getty Images)

Four of HFZ’s condo loans being shopped in foreclosure sale

Four of HFZ’s condo loans being shopped in foreclosure sale
Avi Shemesh, Richard Ressler, and Shaul Kuba, and the towers

CIM’s $500M multifamily buy in Northern Virginia among priciest ever

CIM’s $500M multifamily buy in Northern Virginia among priciest ever
HNA Group’s Guoqing Chen, One57 and  and Gary Barnett (Godsfriendchuck via Wikipedia)

HNA’s fire sale continues with One57 deal

HNA’s fire sale continues with One57 deal
SL Green's Mark Holliday with Industry City in Brooklyn and 95 Morton Street (Credit: Industry City; SL Green; Google Maps)

SL Green in talks to sell loans to CIM, Rockwood

SL Green in talks to sell loans to CIM, Rockwood
685 Fifth Avenue and Michael Shvo (Credit: Shvo)

Shvo, partners land $120M construction loan for 685 Fifth Avenue

Shvo, partners land $120M construction loan for 685 Fifth Avenue
220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps, Getty Images, iStock)

At 220 CPS, three deeds in one day fetch $150M

At 220 CPS, three deeds in one day fetch $150M
432 Park Avenue with apartment unit #65A and Luis Felipe (Credit: StreetEasy and Getty Images)

A 432 Park condo has traded hands 4 times — this time at a loss

A 432 Park condo has traded hands 4 times — this time at a loss
Canarsie Plaza and Blackstone’s Kathleen McCarthy (Credit: Google Maps and Blackstone)

Blackstone picks up Canarsie shopping plaza for $130M

Blackstone picks up Canarsie shopping plaza for $130M
arrow_forward_ios

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

Loading...