This 520 Park pad just closed for $64M

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

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

(Illustration by Dave Murray)

The squeeze on resi brokerages is forcing consolidation, cooperation

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand