The Real Deal New York

Buyer shells out $60M for two apartments at 432 Park

91st floor was among those carved up by developers in 2015
By E.B. Solomont | January 05, 2018 12:50PM

Humpty Dumpty on top of 432 Park Avenue

In late 2015, the developers of 432 Park Avenue reluctantly split several full-floor penthouses amid slow sales. Well, guess what? A mystery buyer has just shelled out more than $60 million to put two half-floor units back together again.

According to property records filed with the city on Friday, the buyer scooped up Units 91A and 91B for $60.1 million, or around $7,280 per foot, plus a smaller unit on the 29th floor for $1.3 million (likely for staff). The deeds were signed in August by James Kaufman as a trustee for the buyer, 432 East Residence Trust.

Originally asking $78 million, Unit 91 was among the five penthouses that got carved up by Macklowe Properties and CIM Group in late 2015.

That year, Unit 91A, with 3,952 square feet, was listed for $40.25 million (or $10,184 per foot). Unit 91B, with 3,977 square feet, was listed for $39.75 million (or $9,994 per foot).

At $60.1 million, the purchase price is a dramatic discount from both the original full-floor price and the asking price when the units were chopped up.

Still, the $60 million deal is the latest in a string of big-money closings at the trash can-inspired condo tower. In December, a buyer snapped up a trio of apartments on the 92nd and 93rd floors for $91.1 million — the priciest residential deal of 2017.

Since closings began, the supertall has dominated a list of the biggest residential sales in 2016 and 2017.  Available units still include Penthouse 95, asking $82 million. A resale on the 71st floor is asking $68.5 million.