432 Park Avenue Posts All-Time Record for Highest Dollar Volume in Closings of Any New York City Residential Development Sales of Residences at 432 Park Avenue Exceed $2 Billion

Photo credit DBOX for CIM Group & Macklowe Properties

 

Co-developers CIM Group and Macklowe Properties announced today that 432 Park Avenue, the soaring 1,396-foot luxury residential condominium, has posted the highest dollar volume in residential unit closings of any New York City residential project. Recorded sales at 432 Park Avenue, the world’s tallest residential building, total more than $2 billion, a milestone that surpasses the total dollar volume of initial unit closings in any single residential project in New York City’s history. Among 432 Park Avenue’s significant closings are 48 residences more than $20 million each, confirming the building’s position as one of the most successful and desired addresses in the world.

“The residents of 432 Park Avenue already know it to be an established building with an incredible array of amenities and exceptional service. With this significant sales accomplishment, it is clear that ‘432’ has become one of the most coveted addresses in New York City and beyond,” said Howard M. Lorber, Chairman, Douglas Elliman Realty, which is co-exclusive sales agent with 432 Park Avenue’s in-house sales team.

“In more ways than one, 432 Park Avenue has achieved unprecedented heights and we could not be prouder,” added Susan de França, President & CEO, Douglas Elliman Development Marketing. “432 Park Avenue continues to be Manhattan’s market leader, and an incredible success story.”

Designed by world-renowned architect Rafael Viñoly, 432 Park Avenue is a perfect square of architectural design, ascending to the very top of the Manhattan skyline with panoramic views of major local landmarks, including the Statue of Liberty, New York Harbor, Central Park, Lower Manhattan and Midtown Manhattan skylines, Hudson River, East River, and the Atlantic Ocean. The building’s residences begin 356′ above street level, guaranteeing stellar views from every home. The residences feature 12’6″ finished ceiling heights, 10′ by 10′ windows, solid oak flooring, Italian statuary book-matched marble floors, vanities, and walls in the baths as well as countertops and backsplashes in the kitchens, and the finest interior finishes and appliances. Celebrated New York architect Deborah Berke, designed the residences interiors.

432 Park Avenue’s amenities and services are on par with the world’s leading five-star hotels, all in a private residential setting. The building’s 30,000 square feet of amenities include three full floors dedicated to dining, entertaining, and wellness, highlighted by a private restaurant helmed by Michelin-starred chef Shaun Hergatt, 75-foot indoor swimming pool, billiards room and library, executive boardroom with state-of-the-art teleconferencing equipment, 18-seat screening room and performance space, and a fitness center with yoga and treatment rooms programmed and managed by The Wright Fit. Beginning at approximately 100 feet above street level, these amenity floors are all double-height, with 28-foot ceilings and two tiers of 432 Park Avenue’s signature oversized windows flooding the interiors with natural light.

The private porte-cochere entrance establishes an exclusive and secure arrival experience, a sentiment that carries through the interior. The handpicked staff includes veterans from the luxury hospitality and residential fields who provide top-tier concierge services and facilitate a lifestyle of effortless luxury. As an extension of the building’s dedication to the comfort and convenience of its residents, on-site climate-controlled wine cellars, accessory suites, studio apartments for guests and staff, private storage, and on-site parking are also available to complement the residences.

Current availability at 432 Park Avenue includes a limited selection of half-floor and full-floor residences from 3,575 square feet to over 8,000 square feet, including penthouses beginning over 1,100 feet in elevation. For more information and current availability, please visit 432parkavenue.com.

ABOUT CIM GROUP

Established in 1994, CIM is a vertically-integrated owner and operator of real assets for its own account, and on behalf of its partners and co-investors seeking to invest in urban real assets, net-lease assets, and other associated credit strategies, with a principal focus on North America.For more information, please visit www.cimgroup.com.

ABOUT MACKLOWE PROPERTIES

Macklowe Properties was founded in New York City nearly 50 years ago by Harry Macklowe. The company’s developments have totaled over 13 million square feet including: Metropolitan Tower, Worldwide Plaza, the General Motors Building, and the flagship Apple Store in the GM Building’s Fifth Avenue Plaza, known for its signature 32′ glass cube that is included on the American Institute of Architect’s list of America’s favorite architectural structures. For more information, visit www.mackloweproperties.com.

 

 

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