The Real Deal New York

Two condos priced at over $70M under contract at Zeckendorf’s 520 Park

The six-bedroom duplexes were on sale for between $73M and $83M
June 15, 2017 03:50PM

520 Park Avenue and Arthur Zeckendorf

Contracts for two condominiums asking more than $70 million at Zeckendorf Development’s TRData LogoTINY 520 Park Avenue were signed in the past week.

The six-bedroom duplexes on high floors were asking between $73 million and $83 million, the Wall Street Journal reported.

Both units span around 9,100 square feet, and feature 42-foot-long balconies, views of Central Park, a private interior elevator and 15-foot ceilings in some rooms. The exact asking prices or the identity of the buyers was not made public.

“Although we have seen an uptick in activity in recent months, especially amongst domestic buyers, sales have been consistent since our launch at the end of 2015. That being said, sales are certainly bolstered by the fact that we have now topped-off and are close to completing the limestone cladding,” developer Arthur Zeckendorf told the newspaper. He added that a number of residents from 15 Central Park West have purchased condos in the building.

The 34-unit building, which has a projected sellout of $1.25 billion, features a $130 million penthouse. If the unit sells at that price — and before Vornado Realty Trust’s $250 million condo at 220 Central Park South — it will be the most expensive apartment sale in New York City history. The current record is a unit that sold for $100.5 million at Extell Development’s One57.  [WSJ]Miriam Hall