This 432 Park unit just sold at a 27% discount

The condo closed for $29.5M

TRD NEW YORK /
Jan.January 03, 2019 06:00 PM

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

A sponsor unit at Macklowe Properties and CIM Group’s 432 Park Avenue just closed for $29.5 million — a hefty discount from its last asking price.

The condo’s anonymous buyer is listed as “Blue Marlin 432 LLC,” according to records filed with New York City’s Department of Finance. It was listed for $40.5 million and went into contract in December, according to Olshan Realty.

The price works out to $7,375 per square foot.

The apartment spans about 4,000 square feet — and includes three bedrooms and a library. The unit features a private elevator, a windowed eat-in kitchen and a master suite with two master bathrooms.

The buyer’s signatory, Bobbi Langer at Schulte Roth & Zabel, declined to comment.

In December, another sponsor unit sold to an anonymous buyer for $15 million.

Earlier this year, the developers said 432 Park passed the $2 billion sales milestone. At the time, they said 48 units sold for more than $20 million each. Sales launched at the project in 2015 — and have made for some of the priciest residential deals in the city.


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