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New York

Closings can begin at Zeckendorf’s 520 Park

Condo plan declared effective by state AG

520 Park Avenue and Arthur Zeckendorf
520 Park Avenue and Arthur Zeckendorf

Closings can now begin at Zeckendorf Development’s 520 Park Avenue, with the New York Attorney General declaring the building’s offering plan effective.

Zeckendorf is shooting for a $1.2 billion sellout at the 34-unit building, according to the AG’s real estate finance bureau. The Robert A.M. Stern-designed condo has a $130 million penthouse that would be one of the most expensive apartment sales in New York City’s history, if it does actually sell at that price.

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At least 17 percent of the building is now in contract, according to an amendment filed with bureau.

In June, two condos asking $73 million and $83 million went into contract there. Billionaire Frank Fertitta, the former owner of the Ultimate Fighting Championship mixed martial arts company, is the buyer of the $73 million apartment.

A representative from Zeckendorf was not immediately available for comment.

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Arthur ZeckendorfZeckendorf Development