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

Canarsie Plaza and Blackstone’s Kathleen McCarthy (Credit: Google Maps and Blackstone)

Blackstone picks up Canarsie shopping plaza for $130M

Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

At 220 CPS, buyer joins $100M club

131-01 39th Avenue in Flushing and Alchemy ABR’s Kenneth Horn with 123-141 West 57th Street (Credit: Alchemy ABR and Google Maps)

Flushing project bigger than November’s next five largest combined

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

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

Alchemy ABR's Kenneth Horn and Brian Ray with 123-141 West 57th St (Credit: Alchemy ABR and Google Maps)

Developer behind Woolworth conversion planning Billionaires’ Row office tower

A rendering of Tower Fifth with Harry Macklowe (Credit: Getty Images)

Harry Macklowe just got $192M closer to building his Midtown skyscraper

111 West 57th Street (Credit: iStock)

Another legal door closes for jilted investor at 111 West 57th Street

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation