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+

10/13/17
...432 Park Avenue, Jennifer Lopez and Alex Rodriguez (Credit: Getty Images) Jennifer Lopez and Alex Rodriguez are...

10/05/17
...he wanted to step in to prevent “another 432 Park Avenue” from towering over the city. “People in my district are getting development fatigue.” Race...

10/03/17
...CIM's Charles Garner and 432 Park Avenue What does it take to sell a luxury condominium these days? At 432 Park Avenue...

10/02/17
...432 Park Avenue and Harry and Linda Macklowe (Credit: Getty Images) Lawyers for Linda Macklowe accused 432 Park...

10/02/17
...penthouse at Macklowe Properties and CIM Group’s 432 Park Avenue for $82 million. “I haven’t seen them for a while -- my top buyers...

10/01/17
...his eyes on the sky -- more specifically, 432 Park Avenue and the Four Seasons Hotel on West 57th Street. Today is really looking up...

09/28/17
...developer from carving up her 78th-floor apartment at 432 Park Avenue — lopping off one-third of the square footage and leaving her with a modest one-bedroom...

09/28/17
...432 Park Avenue, Linda and Harry Macklowe (Credit: Emily Assiran) Linda Macklowe’s attorneys are asking a...

09/27/17
...soon-to-be ex-husband of shrinking her three-bedroom apartment at 432 Park Avenue into a modest one-bedroom. A spokesperson for the developer the apartment was "a gift...

09/26/17
...432 Park Avenue, Linda and Harry Macklowe (Credit: DBOX and Getty Images) UPDATED, 6:55 p.m., Sept. 26: In...

09/24/17
...pm PDT 2. Beam me up, Scotty: The supertall 432 Park Avenue has a supernatural feel in this shot shared by rental brokerage Nooklyn. Original credit...

09/18/17
...East 59th Street and even the retail at 432 Park Avenue are struggling with sluggish demand, his lawyers said. (That’s despite 432 Park’s projected...

09/14/17
...From left: 200 East 59th Street, 432 Park Avenue retail, Harry Macklowe and 1 Wall Street Mogul or frontman? It's notoriously difficult to tell...

09/13/17
...in contract after nearly a year of sales. 432 Park Avenue? It has 27,000 square feet of below-grade retail and just one tenant after years of...

09/11/17
...was about to close on a unit at 432 Park Avenue until a "catastrophic flood" destroyed the apartment, prompting him to sue developer Harry Macklowe...

09/08/17
...Wall Street would be far less than, say, 432 Park Avenue. "We know that the demand for $10,000- or $12,000-a-foot units is very slow," he...

09/07/17
...at the Drake Hotel site (now home to 432 Park Avenue), backed by equity investments from a Russian metals billionaire and a Ukranian natural gas...

09/06/17
...gleefully standing behind a birthday cake shaped like 432 Park Avenue. The two were celebrating on a boat. Much of his negative net worth can...

09/01/17
...at the Drake Hotel site (now home to 432 Park Avenue), backed by equity investments from two Eastern European oligarchs who are now both suspected...

08/31/17
...assignment was CIM Group and Harry Macklowe’s 432 Park Avenue. Elliman was followed by Stribling Marketing Associates at No. 3 (with $1.48 billion), Halstead at No...

08/31/17
...at the Drake Hotel site (now home to 432 Park Avenue), backed by equity investments from a Russian metals billionaire and a Ukranian natural gas...

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...
  • Event Retail Leasing
  • Address 432 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,900
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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