432 Park Avenue | The Real Deal New York

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432 Park Avenue

432 Park Avenue
New York, NY 10022
(212) 554-5825
Office, Retail, Residential, New Construction, Leasing/Rental, Other, Multifamily

432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan. Construction began in 2012 and is expected to be complete in 2015, at which time it will be the tallest completed residential building in New York City as well as in the Western Hemisphere, topping out at 1,400 feet. It will be the second tallest building of any kind in New York City, second only to 1 World Trade Center.

The project began in 2006 when developer Harry Macklowe acquired the Drake Hotel for $440 million, which he then demolished. As Macklowe and his lenders faced various financial difficulties, Los Angeles based CIM Group acquired the site in 2012. The extent of Macklowes continued involvement with the project is unclear, although he and his partners are known to have bought up to $450 million of retail space in the tower.

Construction on the building, designed by Uruguayan architect Rafael Viñoly, began in May of 2012. When construction is completed in 2015, the tower will have 104 units on 94 floors with the average price per square foot expected to break $6,894.

  • Address 432 Park Avenue
  • neighborhood Midtown East
  • borough Manhattan
  • owner Macklowe Properties, CIM Group
  • developer Macklowe Properties, CIM Group
  • owner entity 440 PARK AVENUE (NY) OWNER, LLC
  • architect SLCE ARCHITECTS
  • sales/marketing Douglas Elliman
  • PLANS DISCLOSED 03/10/2011
  • dob permit issued 05/14/2012
  • tco issued 11/10/2015
  • DOB FILE PLANS 03/10/2011
  • DOB FILE Link
  • LIST/LAUNCH SALES 07/17/2012
  • height in feet 1,396
  • floors 84
  • ag file plans 12/14/2011
  • AG FILE Link
  • residential units 142
  • total units 142
  • square feet 579,092
  • const. status Condo Complete
  • block and lot 1-01292-7502
  • BIN 1088817
  • documents click here
Condominium Units+

08/17/17
...Alexander Roepers and 432 Park Avenue From LLNYC: An 81st-floor penthouse unit at 432 Park Avenue has just sold for $38 million...

08/14/17
...Investment Fund, which has backed the likes of 432 Park Avenue and 76 Eleventh Avenue. "Maybe they like the return, but they will lose capital. They...

08/06/17
...that honor belongs to the penthouse unit at 432 Park Avenue, which is 1,396 feet high. That apartment sold in September 2016 for a whopping $87.7 million to...

08/03/17
...One Wall Street and the retail portion of 432 Park Avenue. The billionaire, known as HBJ, also reportedly came close to investing $500 million in Kushner...

08/01/17
...His current listings include a $31 million pad at 432 Park Avenue and a $38 million unit at Walker Tower. Blackmon did not return a request for...

07/26/17
...432 Park Avenue Why buy one trophy apartment when you can have two? Hong Kong financial executive...

07/19/17
...One57, the tower at 157 West 57th Street, and 432 Park Avenue have this particularly crucial amenity, as will 111 West 57th Street, 53W53, 220 Central Park South...

07/19/17
...East 57th Street, One57, 220 Central Park South and 432 Park Avenue (inset from left: Turner's Peter Darovan, Lendlease's Ralph Esposito and AECOM Tishman's Jay Badame...

07/17/17
...will lead sales. Located just two blocks from 432 Park Avenue (which Elliman is also marketing), 200 East 59th is more modest that Macklowe and CIM...

07/17/17
...From top: 432 Park Avenue #81B and 33 East 74th Street #PH2 A total of 18 contracts were signed on luxury...

07/07/17
...foot was $7,374 when it launched sales in 2015 and 432 Park Avenue asked an average of $6,894 per foot in 2014. Much like Steve Roth has done at...

07/05/17
...has led to controversial towers like One57 and 432 Park Avenue popping up, turning 57th Street into so-called Billionaires' Row. There is already a movement...

07/03/17
...conversion, as well as the retail element at 432 Park Avenue. — E.B. Solomont...

06/28/17
...a multiple-unit spread at the building. And at 432 Park Avenue, even though Macklowe Properties and CIM Group have had to offer discounts on some...

06/21/17
...West 16th Street, 118 West 12th Street, 85 Grand Street #2, 432 Park Avenue, 65B Pop art? More like chop art. This week, one of the biggest price...

05/25/17
...with Harry Macklowe on the condominium skyscraper project 432 Park Avenue and invest in a handful of Sapir Organization properties, including 11 Madison Avenue and the...

05/23/17
...has either co-developed or backed such projects as 432 Park Avenue, 737 Park Avenue, 305 East 51st Street, One Madison and 100 Barclay Street. In February, Japanese trading...

05/18/17
...designed by Rafael Viñoly, the architect of 432 Park Avenue.  At a condo conversion of 212 Fifth Avenue, Robert Gladstone is already closing condo sales...

05/16/17
...who’s part of the marketing team for 432 Park Avenue. The brokers touched upon the hottest-button issue in the market right now, the use...

05/16/17
...are now turning to cold, hard discounts. And 432 Park Avenue is no different. “Anyone that tells you they’re not making concessions, I think...

05/10/17
...magnate Fawaz Al Hokair’s $87.7 million purchase at 432 Park Avenue. However, homes in Los Angeles and the Hamptons did make Christie’s cut. Four...

05/09/17
...condo construction, has provided loans for 15 Hudson Yards, 432 Park Avenue, 30 Park Place, 520 Park Avenue and most recently Ceruzzi Properties and Kuafu Properties’ 18-story Upper...

04/05/17
...Harry Macklowe. That's how much the developer of 432 Park Avenue and 1 Wall Street offered his wife, Linda Macklowe, last year to walk away from...

04/03/17
...units at new development condos like One57 and 432 Park Avenue, where an $87.7 million condominium traded for over $10,600 square feet last year. This apartment — far...

04/03/17
...Joe Sitt, Gary Cohn, 65 Boulevard de la Croisette, 432 Park Avenue Retail, Harry Macklowe and Sheikh Hamad Bin Jassim Bin Jaber al Thani (Credit: Getty...
  • Event Retail Leasing
  • Address 432 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,900
  • Publication Date 02/01/2017
  • Event Date 12/18/2016
  • Party 1 Macklowe Properties
  • Party 2 Richard Mille
  • Party 2 Brokerage Thor Retail Advisors 
  • Party 2 Broker Dan Harroch
notes
The luxury Swiss watchmaker signed a lease.
  • Event Sales
  • Address 432 Park Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 74,816
  • Price $ 411,100,000
  • Price per foot $ 5,494.00
notes
The retail condominiums sold for $411 million.
  • Event Sales
  • Address 42 East 57th Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 8,580
  • Price $ 32,400,000
  • Price per foot $ 3,776.22
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Turnbull & Asser
  • Party 2 CIM Group
notes
The townhouse sold for $32.4 million. The building contains four commercial condo units.
  • Event Sales
  • Address 42 East 57th Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 23,100
  • Price $ 31,500,000
  • Price per foot $ 1,363.64
  • Publication Date 06/01/2008
  • Event Date 04/22/2008
  • Party 1 East-Man Trading Company
  • Party 2 T&A Holdings
notes
The commercial property sold for $31.5 million.
  • Event Sales
  • Building Name Driveake Swissotel
  • Address 440 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 440,000,000
  • Publication Date 03/01/2006
  • Event Date 01/20/2006
  • Party 2 Harry Macklowe, Macklowe Organization
notes
The property, which includes air rights for a structure of nearly 70 stories, went into contract for approximately $440 million. It will be torn down to make room for luxury condos.

...of the list by his über-luxury condo tower 432 Park Avenue. For his part, Trump’s projects in the 1980s and 1990s were some of...

...by their pricey listings at the über-luxury tower 432 Park Avenue. “Many of the apartments there are very high-priced, so anybody that is working on...

10/07/15
...in the West Village, 56 Leonard Street in Tribeca, 432 Park Avenue in Midtown (Credit: DBOX) With dozens of luxury condo towers under construction, New York...

...fund ponied up $400 million for Harry Macklowe’s 432 Park Avenue and $600 million for Silverstein Properties’ Robert A.M. Stern-designed condo and hotel at 30 Park...

...one of the highest-profile buildings in the city: 432 Park Avenue, which has an estimated sellout of $2.9 billion. Meanwhile, Stribling picked up new projects like...

...Alexico Group and Hines’ 56 Leonard and Macklowe Properties’ 432 Park Avenue. “Four-three-two is its own animal,” said Richard Dubrow, Macklowe’s head of marketing. “In...

...there, including Macklowe Properties and CIM Group’s 432 Park Avenue. At the same time, Crown stepped back from smaller deals in Manhattan, with no...

...the backs of developments such as Macklowe Properties’ 432 Park Avenue, the personal-pool equipped Soori High Line at 522 West 29th Street, and Stella Tower, the...

...to real estate website Trulia. Tallest residential building 432 Park Avenue In June, 432 Park Avenue, the über-luxury condo tower being built by the CIM Group...

...s highest-profile buildings: 15 Central Park West, One57 and 432 Park Avenue. (According to a TRD analysis of StreetEasy figures, those properties averaged $7,391 a square foot...

...year in mega Midtown projects like One57 and 432 Park Avenue that prove this point.” Those Midtown contracts, which are set to close this year...

...buyer’s broker in sought-after developments, such as 432 Park Avenue. “It’s been a good year selling new product,” Berk said. “We find our...
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