The end of 2017 has seen a lot of record-setting headlines for 432 Park Avenue, namely the $91 million, three-penthouse sale that was the city’s most expensive all year. And a sale at the supertall that came through city property records today makes it clear that there’s no sign of slowing down. Unit 65A, a half-floor, three-bedroom spread, first sold in June of 2016 for $27 million to an anonymous LLC dubbed “432 Holdings LLC.” This past September, the building’s developers CIM Group and Macklowe Properties bought back the apartment for $27.9 million in a presumed attempt to let the seller buy a larger unit in the building. As The Real Deal reported, the seller did just that, upgrading to an 80th-floor unit that cost $39 million. But as of today, the developers have all but made their money back, as the 65th-floor residence sold yet again for $26.4 million to another LLC called “Mallow Enterprises.”
432 park avenue
After dropping a staggering $91.1 million, a buyer from China now owns three penthhouse apartments at 432 Park Avenue, the most expensive closing to date. Picking up units 92, 92B and 93B, the buyer, 432 Park Joy LLC, gets 11,906 square feet spanning two floors (h/t TRD). As 6sqft learned earlier this month, the combined units originally hit the market for roughly $120 million. Prior to this deal, the largest closing at the supertall was a penthouse that was asking $95 million but closed last year for $87.7 million. But it’s still One57 that holds the record for the city’s priciest residential deal, a penthouse that sold for $100.4 million in 2014.
A massive deal has entered contract at one of New York’s most exclusive condos, the super-skinny skyscraper 432 Park. Mansion Global spotted three neighboring penthouses that all entered contract this Wednesday. There’s #92B, which was asking $40 million; #93B was asking $40.25 million; and #92A was asking $40.5 million. One of the condos served as a model penthouse (pictured above), which was designed and furnished by Kelly Behun. The developers, CIM Group and Macklowe Properties, would not comment on sales, so, for now, it’s unclear if a single buyer is responsible for the same-day transactions over the two floors. If so, someone has nabbed a nearly 12,000-square-foot mansion in the sky for around $120 million.
When your relationship status gets its own acronym you know you’re in another league of celebrity, so it comes as no surprise that J-Rod is said to be checking out apartments in 432 Park Avenue, the tallest residential building in the Western Hemisphere. According to the Page Six, a broker says they’ve been to the tower four times, while another broker claims they’re looking at a “four-bedroom, half-floor unit on a high floor.” The timing makes sense, as Jennifer Lopez put her enormous Nomad penthouse on the market for $27 million just 10 days ago.
15 Central Park West. Image: Wikimedia Commons
Even with a rapidly rising field of competitors, 15 Central Park West still holds the title of New York City’s most expensive condominium, according to the just-released CityRealty100. Robert A.M. Stern’s “Limestone Jesus,” built in 2007, has many a superlative under its limestone-clad belt, but the one that puts it in the top spot tallies the eight apartments sold in the past year for an average price per square foot of $7,227. 15 Central Park West also grabbed the top three most expensive sales by PPSF, with the $50.5 million Penthouse 40B, sold by Barclay’s CEO Bob Diamond to an unnamed Chinese buyer, topping the list at $9,581/square foot.
Image courtesy of the United States Patent Office
The massive online retailer company Amazon, which recently acquired the grocery chain Whole Foods for $13.4 billion, is attempting to push even further into the future of internet commerce. The company has recently patented a “multi-level fulfillment center for unmanned vehicles,” or in simpler terms, a drone skyscraper. As co.design discovered, while patents do not necessarily mean this tower will be created, the plan has detailed sketches showing a giant beehive from where drones would fly in and out.
Outside of 432 Park Avenue, Mayor de Blasio held a press conference on Thursday to discuss his mansion tax. The proposal calls for a 2.5 percent surcharge on sales of city homes valued at $2 million or more, which would in turn fund affordable housing for 25,000 senior citizens. De Blasio fittingly positioned himself outside 432 Park because, according to the city, if the proposed tax had been passed, this residence alone would have generated $30.2 million since 2015 in support of housing for low-income seniors. “And that would have been based–and this is stunning to me–on the sale of just 62 condominiums. But it would have meant enough money to subsidize affordable housing for 2,000 seniors,” he said.
If you’ve been as curious as we have to know what the inside of 432 Park looks like IRL, look no further than unit #52C, now for sale by owner. LLNYC spotted the listing today which boldly ditches professionally staged photos for somewhat sloppy phone snapshots of the interiors. As the mag points out, 432’s developers have been keen on putting the luxury tower’s best foot forward, revealing only sleek renderings or retouched images of impeccably outfitted model units to press and onlookers.
For new developments, 2015 was the year of reveals, but 2016 was all about watching these buildings reshape our city. Ahead we’ve narrowed a list of 12 news-making residential structures, each noted for their distinctive design, blockbuster prices, or their game-changing potential on the skyline or NYC neighborhoods.
Which of these you think deserves 6sqft’s title of 2016 Building of the Year? Have your say below. Polls for our third annual competition will be open up until 11:59 p.m., Sunday, December 11th*, and we will announce the winner on Tuesday, December 13th!
432 Park Avenue may be the tallest residential building in the western hemisphere and home to the most expensive apartment closing this year, but throughout 2016, the tower’s ultra-luxury condos were selling at an average discount of 10 percent, according to an analysis by appraiser Miller Samuel Inc. for Bloomberg. And a recent transaction saw an even greater price cut; Lewis Sanders, founder and CEO of Sanders Capital and former CEO of AllianceBernstein, bought an 88th floor penthouse for $60.9 million, 20 percent less than its $76.5 asking price.