520 Park Avenue | TRD Research
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520 Park Avenue

520 Park Avenue
New York, NY 10065
212-838-3036
Sales, Condo

The sponsor(s) filed plans on 03/03/14 for a condo project at 520 Park Avenue. The sponsor(s) were approved to market the units for sale on 09/16/14. TRData has determined that the sponsor(s) have sold more than 80 percent of the sponsor units in the building.

  • Address 520 Park Avenue
  • neighborhood Upper East Side
  • borough Manhattan
  • owner Zeckendorf Development
  • developer ZECKENDORF DEVELOPMENT
  • owner entity 41-45 PROPERTY OWNER LLC
  • architect Beam Architects DPC
  • sales/marketing Zeckendorf Marketing, LLC
  • PLANS DISCLOSED 03/03/2014
  • dob permit issued 08/22/2011
  • tco issued 09/26/2011
  • DOB FILE PLANS 04/28/2011
  • DOB FILE Link
  • LIST/LAUNCH SALES 09/16/2014
  • height in feet 70
  • floors 6
  • AG Initial Price $ 1,245,794,000
  • ag file plans 03/03/2014
  • AG FILE Link
  • residential units 0
  • commercial units 0
  • hotel units 32
  • total units 64
  • square feet 1
  • const. status CONDO COMPLETE
  • block and lot 1-01375-0036
  • BIN 1040805
  • Event Financing
  • Address 520 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 47,679
  • Price $ 50,000,000
notes
The developer acquired an additional $50 million in construction financing for the 54-story Robert A.M. Stern-designed condo tower.
  • Event Financing
  • Address 520 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 75,000,000
  • Publication Date 05/01/2017
  • Event Date 03/17/2017
  • Party 1 Zeckendorf Development
  • Party 2 Children's Investment Fund
notes
The $75 million refi consolidated a new $25 million mortgage with a previous $50 million loan which was issued in 2014.
  • Event Financing
  • Address 520 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Publication Date 12/01/2014
  • Event Date 10/22/2014
  • Party 1 Zeckendorf Development
  • Party 1 Brokerage JLL
  • Party 2 Children's Investment Fund Management
notes
A $450 million construction loan was arranged for the 51-story condo
  • Event Sales
  • Address 520 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 70,000
  • Price $ 40,000,000
  • Price per foot $ 571.43
  • Publication Date 04/01/2013
  • Event Date 02/20/2013
  • Party 1 Christ Church
  • Party 2 William and Arthur Zeckendorf
notes
The air rights sold for more than $40 million, the New York Times reported. The buyers plan to develop a 51-story apartment building with 30 units that are expected to sell for upward of $8,000 per square foot.

01/01/2018
The hedge fund, founded in 2004, made its first splash in Manhattan in 2011 when it lent Harry Macklowe $250 million to finance the condo conversion of 737 Park Avenue. Since then it has issued construction loans for 432 Park Avenue, 30 Park Place, 520 Park Avenue and 151 East 86th Street...

12/20/2017
And two units at Zeckendorf Development’s 520 Park Avenue, each asking more than $70 million, went into contract in June...

09/01/2016
Related's Stephen Ross Residential condo development is the riskiest sector within the risky business of real estate. Evidence for that is found in both the Related's Stephen Ross Residential condo development is the riskiest sector within the risky business of real estate. Evidence for that is found in both the...

12/31/2015
The apartment at 550 Madison Avenue is set to take the cake as the most expensive listing in New York City (and its biggest, at 21,000 square feet.) And other developers followed suit: The Zeckendorf brothers are asking $130 million for a triplex penthouse at 520 Park Avenue, JDS Development Group and Property Markets Group are reportedly going to launch $100 million-plus penthouses at 111 West 57th Street, and even Ben Shaoul’s Magnum Real Estate Group is mulling a seven-figure ask at his redevelopment of the Verizon building at 140 West Street...

04/01/2015
Click to enlarge With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But Click to enlarge With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But...

01/02/2015
The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for...