This 520 Park pad just closed for $64M

The unit was originally priced at $76M, offering plan shows

New York /
Jan.January 29, 2019 03:30 PM

520 Park Avenue and William Zeckendorf

One of the priciest residential deals to start off the year is another penthouse closing at Zeckendorf Development’s 520 Park Avenue.

The duplex penthouse sold for $64.25 million, according to records filed with New York City’s Department of Finance. The buyer is listed as “CJFGK, LLC.”

The buyer financed the purchase with a $32.13 million mortgage from JPMorgan Chase, records show. The LLC is managed by Moshe Oppenheim, an attorney with First Quality in Great Neck, New York. First Quality manufactures a variety of products include baby diapers, paper towels and food packaging containers.

The buyer’s attorney, Karen Geringer at Greenberg Traurig, didn’t immediately respond to request for comment.

The duplex, DPH 54, spans 9,138 square feet and was priced at $76 million, according to the offering plan. It sold for $7,031 per square foot.

The closing is the latest in a string of pricey sales at 520 Park. Billionaire Frank Fertitta, the former owner of the Ultimate Fighting Championship, was said to have bought a unit for $70 million, though it’s not clear which one. Last month, a duplex penthouse unit sold for $68 million to an anonymous buyer. It was previously asking $83 million. Billionaire investment banker Ken Moelis also bought a $62 million penthouse at the Robert A.M. Stern-designed building. And vacuum cleaner mogul James Dyson also reportedly snagged a $73.8 million unit at the 54-story tower.

Earlier this month, the developer decided to split up the building’s $130 million triplex. The offerings are now being marketed as a simplex seeking $40 million and duplex priced between $80 million and $100 million, The Real Deal reported. Closings began at the development in September.


Related Articles

arrow_forward_ios
Los Angeles, New York and Miami metro areas are in the top 10 of owner-occupied million dollar homes. (iStock)
These metro areas have the most — and fewest — million-dollar homes
These metro areas have the most — and fewest — million-dollar homes
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
Salesforce CEO Marc Benioff and Amazon's Jeff Bezos are backing the startup (Getty, Arrived)
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Orchard's Patrick McClymont and HomeLight's Sean Aggarwal (Photos via IMAX, The Org)
Orchard, HomeLight move toward IPOs with new execs
Orchard, HomeLight move toward IPOs with new execs
Sara Gore (right) and Ryan Serhant (Getty)
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
From left: Mathew Chapman, Michele Kowal, Maryanne Elsaesser and Rhonda Battifarano (NJ Home Navigators)
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
(Getty)
Housing rush: In-person school adds fire to rapidly heating market
Housing rush: In-person school adds fire to rapidly heating market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...