The Real Deal New York

Buyer nabs three 432 Park penthouses asking $120M

The units total nearly 12K sf
By E.B. Solomont | December 07, 2017 06:46PM

Rendering of 432 Park Avenue and the view from the penthouse (credit: Rafael Vinoly Architects)

A mystery buyer appears to have stitched together multiple units at 432 Park Avenue to form a single aerie with a combined asking price of $120 million. Three units on the 92nd and 93rd floors — each asking north of $40 million — were listed in StreetEasy already in contract on Thursday. The units have a total of 11,906 square feet spread over two floors. Apartment 92B was asking $40 million (or $10,057 per foot), 93B was asking $40.25 million (or $10,120 per foot) and 92A was asking $40.5 million (or $10,247 per foot). Douglas Elliman’s Richard Steinberg, Sabrina Saltiel, Roger Erickson and Shari Scharfer-Rollins are marketing the project for Macklowe Properties and CIM Group. Mansion Global first reported on the deal. Until now, the priciest pad at the building was the full-floor penthouse, which was asking $95 million and closed last year for $87.7 million, or $10,623 per square foot. Saudi retail magnate Fawaz Al Hokair is said to be the buyer. The $100.4 million penthouse at One57, sold in late 2014, still holds the record for being the city’s priciest residential deal, but Vornado Realty Trust reportedly sold a $250 million penthouse at its 220 Central Park South. At the Crown Building, developer Vladislav Doronin is asking north of $100 million for a five-floor penthouse with two swimming pools. At 432 Park, a 95th-floor penthouse asking $82 million is still on the market. At his divorce trial last week, Macklowe testified that his earnings related to 432 Park would be far lower than anticipated. He said he was looking to pocket $48 million in profits, down from a projected $400 million. Lawyers for his estranged wife disputed that figure, however, arguing that Macklowe’s earning from 432 Park would be $428.3 million.