The most expensive apartment closing in New York City this year and one of the priciest sales ever is finally a done deal, reports The Real Deal. The apartment, the top penthouse at Rafael Viñoly-designed billionaire’s bunker 432 Park Avenue, is the priciest unit in the big-ticket building as well as being literally the city’s highest. As 6sqft previously reported, the buyer is Saudi retail magnate Fawaz Al Hokair. The sale price was $87.7 million—a skyscraping $10,623 per square foot.
Fawaz Al Hokair
The Real Deal reports that Saudi billionaire and retail magnate Fawaz Al Hokair is the buyer of the $95 million penthouse at 432 Park, the city’s current tallest residential building. The unit went into contract in 2013 for roughly $11,500 per square foot, but sources are just now coming out with his identity. Al Hokair is the founder and chairman of Fawaz Alhokair Group, the most valuable retail and real estate company in Saudi Arabia. Forbes estimates the company is worth $22 billion, and that Al Hokair’s net worth is $1.37 billion.
When the deal closes it will be the second most expensive condo sale ever in the city, stealing the title from Bill Ackman’s $91.5 million buy at One57 and following only behind the $100 million penthouse sale, also at One57.