Deal sheet    Single Deal
425 Park Avenue|Sales|09/22/2006
  • Event Sales
  • Address 425 Park Avenue
  • Square feet 600,000
  • Price $ 1,000,000,000
  • Price per foot $ 1,666.67
  • Borough Manhattan
  • Neighborhood Plaza District
  • Publication Date 11/01/2006
  • Deal Date 09/22/2006
  • Party 1 Goelet family
  • Party 2 L&L Holding Co.
notes
An 84-year ground lease sold for approximately $1 billion, plus rent over the term. The lease does not begin until 2015. The current state of disrepair has led speculation that the building may be razed and rebuilt.
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